I wont be here anymore. I can't continue with these loans. Student Loans |
- I wont be here anymore. I can't continue with these loans.
- What would happen if you never paid any loan? (Hypothetically..)
- How to recalculate payment correctly?
- Pay now? Pay Later !
- Does revenue from website ads (adsense) count as passive income or TPD SGA?
- Do you think this would qualify for TPD forgiveness?
- Deleting a late payment off your credit score
- Just Received My FAFSA Award - I Need Help!
- Teacher Loan Forgiveness and PSLF under different loans
- Aid Fell Through
- I am not in default, but I am worried I may soon be.
- Student loan co-signer requirements
- Student Loan Default + Loan Consolidation
- Fedloan to Mohela, no payment history transferring?
- My medical school principal federal loan amount is $238k, well over the aggregate limit of $224k.
- Need advice on reporting overtime income and resuming payments
- Student Loan Forgiveness and Disability/Family Trouble?
- IBR Recertification - Married filing jointly
- Title IV Return of Funds
- No co-signer, who can I take out loans from?
| I wont be here anymore. I can't continue with these loans. Posted: 08 Feb 2022 07:13 AM PST Just like any other impressionable high school student, I was told I needed to go to college or else I'd have no future. I spent about $10k of my own money I made saving up winning COD tournaments at the time to put myself through the first 3 semesters of community college. Ended up having to take out loans to continue my education and get my bachelors in biology proceeding to, hopefully, one day becoming a PA. Fast forward to 2022 I'm just now about to graduate from my bachelors & no desire to become a PA (burnt out from school + work) I want to just end it all. My loans are only about $50kish and the payments are about $750/mo. I've been working and going to school since i was 18 (26 now) and stopped taking more loans once i realized this was adding up quickly. I wanted to drop out, but if i did i had to start the repayment process ASAP. So what did i do? I only went to school for 1 (maybe 2) semester(s) out of the year in order to keep from paying the loan back in full & paid for my semester(s) on a month to month basis to finally graduate. I'm drained, over the education system, and depressed. I have no way out of these loans, i make $25/hr in NYC and that is barely enough to make it by w/ rent & other things. Some might say "you chose to do this" and most dont get that i was just 18 and was told by adults, professors, bursars offices and more to "just take out the loan" all while denying me any financial aid assistance like almost all of my classmates received, and i was just as poor. Im now 26, about to graduate with my degree that wont pay anything unless i go take out even more loans for a masters degree and do what i wanted to do, become a PA. This might be my last reddit post, or any post for that matter. I cant deal with the anxiety this has caused me over the years. I've thought about selling drugs to make the money needed in order to pay these loans, but at what cost? I cant continue to do this anymore and i feel for others in my same situation. Worst part of it all? I loved the field i was studying in, and was doing so well in. Now I have no desire to live anymore because there is no way out of this & the education system is all a sham. I don't blame anybody but myself. If I could travel back in time I'd never attend college if it wasn't free, because this is what it brought me to. Love you all. [link] [comments] |
| What would happen if you never paid any loan? (Hypothetically..) Posted: 07 Feb 2022 10:39 AM PST Let's just say you never have a job after college, your parent's who may have cosigned your loans die and and you live in a sugar daddy arrangement who is not legally your husband/wife. You have a mix of both private and public loans around 100k. You dont need public assistance or medicare because you have a sugar daddy. No inheritance from your parents. What could happen in this situation? Would the government put you in prison or would it just be defaulted? Could the government legally imprison you for not getting a job? [link] [comments] |
| How to recalculate payment correctly? Posted: 08 Feb 2022 04:29 AM PST Around $36k loans total, unsubsidized. I think interest is 6%. When I submitted the idr request twice, both times it said I will have $384 monthly loan. (Single, no dependents) even tho I was hoping it would be 300 or less. Work for a nonprofit,salary is $65k. Applied for PSLF in December 2021 haven't heard anything yet. I just graduated in may 2021, work began august 2021. I've been trying to recalculate my monthly payment thru MOHELA. Yesterday I tried a third time through the student aid page. I'm just confused because I didn't work during school, my AGI for my last tax return was negative so on the recalculate I put zero, and it's still saying for an IDE plan it's giving me $384? Anyone have any tips/advice to help? What am I doing wrong? [link] [comments] |
| Posted: 08 Feb 2022 07:44 AM PST I just got a fresh job and I plan to begin paying my federal student loans starting this month. Would there be any significant difference to putting this money aside in a savings account to grow vs paying it off each month? I'd imagine that I would get a few bucks off of the interest rate but nothing more. Additionally, I could see a benefit in my credit history for beginning to pay back every month vs waiting. Am I missing anything? Thanks! [link] [comments] |
| Does revenue from website ads (adsense) count as passive income or TPD SGA? Posted: 08 Feb 2022 07:24 AM PST I found some articles discussing passive income not counting as SGA, but I haven't found anything specific to ad-based revenue from a website. [link] [comments] |
| Do you think this would qualify for TPD forgiveness? Posted: 07 Feb 2022 06:58 PM PST I'm 35 years old and have an MBA with $152,000 in student loans. I applied for SSDI for autism, PTSD, suicidal depression, and anxiety with agoraphobia and got denied for disability at the hearing stage. However... The ALJ denial letter stated that I am unable to return to the level of work that I had prior to applying. The ALJ stated that I could only work jobs that the skilled could be attained in 30 days or less on the job (basically minimum wage - or less I had a Chapter 7 bankruptcy in February 2017, but the judge did not dismiss the loans. And more recently, the DOE rescinded their appeal for that loan discharge. Given my medical and financial history and limitations, should I apply for a TPD discharge without the SSDI approval? Edit: I haven't worked since December 2019, so I have no income on record for two years. I have depression and anxiety going back to childhood, and I received my PTSD and Autism diagnosis in 2020, so evidence would indicate that the condition has exasperated over time. The last two sentences from here in my denial letter are what I'm basing this post on. And here is where the ALJ stated that I'm limited to low skilled work. Here is the SVP explanation from the SSA'S website. According to the denial letter, I'm limited to work that is considered unskilled. [link] [comments] |
| Deleting a late payment off your credit score Posted: 07 Feb 2022 08:17 PM PST Ok, so my husband is 31 years old and we live in Colorado. He went to Wyoming Tech for college straight out of high school, and a year ago he paid off all his student loans, and we know that because he got a letter for $300 saying he paid too much. We have twin daughters and have been trying to move into a house for 4 years Now, and we have just been working towards building his credit. about a month ago, he got a check saying he owes $500 still and he never paid it (saying it was super overdue) so it destroyed his credit. We were confused and called the us department of education and student loans and they said because of Covid they gave back his $300 but he still owed it. They said they mailed him about having to pay $500 still, but it got lost in the mail, and he never saw a letter about it until he checked his credit score, which when from 715 to 450. That's when he saw that the student loan had been overdue for about a month. Is there a way to pay it and have it erased off his credit? Every day it takes more and more off his score and do not know what to do. Please help! [link] [comments] |
| Just Received My FAFSA Award - I Need Help! Posted: 07 Feb 2022 10:05 PM PST I just got back my FAFSA reward and it tells me that I need $3,500 in subsidized, $2,000 in unsubsidized, and $2,272 in parent plus loan and those are waiting my approval or disapproval. I'm unable to do the parent plus loan because my parents are financially unable to help me through college. What does it mean for me financially if I deny the loan on the tab to "accept award offer"? Is this parent loan required? If my parents are unable to help me, what should I do? [link] [comments] |
| Teacher Loan Forgiveness and PSLF under different loans Posted: 07 Feb 2022 11:30 AM PST I found out information today that may help others, and I am hoping the information is accurate and can be confirmed. I have two types of student loans: FFEL and Direct loans. I have not consolidated these loans. I have taught for 5 years and qualify for Teacher Loan Forgiveness under the guidelines. What occurred to me today was the question: Can I apply for Teacher Loan Forgiveness for the FFEL loans I have without it affecting the time I've accrued toward PSLF on my Direct loans? Since I have not consolidated them under the temporary expansion, the FFEL loans as they stand do not count toward PSLF. I could not find the answer to my question anywhere. All information online said something to the effect of "No, you cannot do both teacher loan forgiveness and PSLF at the same time for the same years." However, this was all in relation to people asking about one loan, not two different kinds of loans. So I chatted with a representative on Studentaid.gov. The representative said, "Applying for Teacher Loan Forgiveness for one loan does not affect your PSLF Request with a different loan." I clarified with, "So if I am able to apply Teacher Loan Forgiveness toward my FFEL loans, this will not affect my 5 years accrued toward PSLF on my direct loans? Correct?" She answered, "Correct." I asked for links to this information for reference later, but she sent general links to Teacher Loan Forgiveness and PSLF. I still can't find information confirming from a source other than this one representative that I can apply for Teacher Loan Forgiveness to my FFEL loans and not have this forgiveness affect my PSLF progress on my Direct loans. So, according to the representative's information, I could wipe out the 5K I have in FFEL loans, and not restart the five years toward PSLF on my Direct loan, since they are two separate loans. Has anyone done this, or might anyone have a source confirming the information the representative gave me? Is this all correct according to what you know? Perhaps confirming this will help others in a similar situation, too. Thanks for any information you might have. I appreciate it. Edit Thanks for the help everyone. I hope this post and the answers given help others who may be in my situation. It may help anyone who: a) has taught for 5+ years for an eligible school, b) isn't sure they'll get the 10 years of eligible public sector work or left for the private sector, c) happens to have FFEL loans, and d) hasn't consolidated under the temporary PSLF waiver. There probably aren't many people with the above criteria, but I was a teacher for 5 years who has moved to the private sector, and I'm not sure when I'll return to the public sector. I have just over $5,000 in FFEL loans and a separate, larger Direct loan. As a teacher I accrued 5 years toward PLSF, but with the 5 years of teaching also am eligible for the Teacher Loan Forgiveness. I therefore sought to find out today if I could wipe out the bulk of my FFEL loans with Teacher Forgiveness without starting over the PSLF clock on my Direct loan should I later return to public sector work. The answer is yes, I can wipe out the FFEL loan, then consolidate the small remainder with the Direct loan. By using the Teacher Forgiveness only on the FFEL loan, I avoid affecting the 5 years of PSLF accrual on my Direct loan, since they are separate loans and different types. This allows me to eliminate $5000 for current eligibility now, rather than adding it to a total later that may or may not be forgiven depending on if I return to public work or not. Again, I realize few people are probably in this position, but the information may help someone. Thanks for your help, everybody! [link] [comments] |
| Posted: 08 Feb 2022 01:09 AM PST Hey all, I went to university for a year on student aid. Halfway through my second semester I dropped too many classes not knowing that you needed to maintain so many credit hours to be considered a full time student and be eligible for financial aid. However, every time I visited the financial aid office, they told me I just needed to wait a bit longer for it to go through. Long story short, it never did go through, and the university still wants their money of course. Its already gone into default and has been purchased by a debt collection agency. I'm just a little confused on all of this, how is this even possible? Why didn't they notify me and just kick me out mid semester? Would I qualify for some sort of debt forgiveness or am I just stuck with this debt on my record? I've been trying to pay on it, but I'm already on the brink of homelessness at this point. From what I understand they were doing some forms of student debt forgiveness, but if I'm correct, since I owed the school and not the government I'm not eligible. If anyone has any info on situations like these it would be much appreciated. [link] [comments] |
| I am not in default, but I am worried I may soon be. Posted: 08 Feb 2022 12:58 AM PST I have been living abroad and have remained current with my student debt of 48k USD. I make minimum monthly payments. Recently my debt was moved from MyFedLoan to Nelnet. Living abroad makes it very difficult to make contact with the company. They sent my family a document for me to register on their website and it includes an account number. When I went online to register for the account I was informed that my SSN is incorrect. I know that I have entered my correct SSN, but it will not let me procced to the next step. I have sent emails to the company but the responses are all automated. I also have no way to make an international call. (I communicate by using online messaging platforms.) n I am at a loss and am not sure what my next step should be. ANy advice is greatly appreciated. Thank you. [link] [comments] |
| Student loan co-signer requirements Posted: 07 Feb 2022 09:40 PM PST I'm an international student looking for a student loan. To have access to lower rates, I want my fiancé, who is a permanent resident to be my co-signer. Her permanent resident green card was already approved; however, she doesn't have the 10 year permanent green card yet. Can she still be a co-signer? [link] [comments] |
| Student Loan Default + Loan Consolidation Posted: 07 Feb 2022 08:01 PM PST Hi all - I originally went to school back in 2015, completed two semesters, and decided to drop out, as school was not serving my highest interest at the time. When I left, I started making payments on my student loans through the federal website. I decided that it was time for me to go back to school as an adult learner (more financial aid without my parents income), but discovered that one of my loans went into default. Although all of my loans where federal, one loan was a federal loan through the school and I should have been making a separate payment to the school directly. Now, in order for me to go back to school and receive aid, I must get this squared away. Unfortunately, the school had been trying to contact me for years at an address I haven't lived at since 2015; the school sent the debt to the attorney general. They are requesting $13,300 to pay off what I owe (I initially took out $5,500). They are claiming $800 in interest, $2,700 in court/lawyer fees, and there is about $4,000 of unknown charges that I am waiting to get a break down of. I've submitted a settlement offer, but it was denied. After I receive the break down of the extra $4,000, I will put in another offer, but can only go as high as $9,500. I can pay that out of pocket, however that is the absolute last resort as it may hurt me during my upcoming degree pursuit. What is my best option? [link] [comments] |
| Fedloan to Mohela, no payment history transferring? Posted: 07 Feb 2022 01:47 PM PST Hello! I was one that got my student loans transferred from Fedloan to Mohela. When I was finally able to make an account for Mohela, I wanted to make sure I had my payment history, but it was no available in Mohela. So I logged into Fedloan and it is no longer there (or at least it gives me an error and signs me out every time). So I saw on Mohela's website that I can call them and request a transaction history. I have requested it about 3-4 times and they keep saying it will be messaged to me via Mohela's secure messaging within a week but I have not received it yet. The first time I requested it was in December. Has anyone else experienced this or know what to do? It is extremely frustrating. [link] [comments] |
| My medical school principal federal loan amount is $238k, well over the aggregate limit of $224k. Posted: 07 Feb 2022 07:24 PM PST I assume they made a mistake in allowing disbursement but that was 2 years ago. Doesn't affect me at all, just interesting. [link] [comments] |
| Need advice on reporting overtime income and resuming payments Posted: 07 Feb 2022 05:30 PM PST How do you report overtime when it comes to student loans? I was previously on IBR before Covid, then Covid happened and we had staffing shortages which opened the door for me to pickup a lot of overtime. Now the company I work for is gaining employee's again and overtime opportunity is declining. I'm afraid I'm going to find myself drowning in payments if they look at my overtime as regular income when I renew my IBR. And we all know overtime is not guaranteed hours...... Between my wife and I we have $90k in student debt. I have no idea where to begin again whether to file separately, jointly, or try PAYE, REPAYE, IBR.... :( Being married is also new grounds for us, so we're pretty lost right now.... [link] [comments] |
| Student Loan Forgiveness and Disability/Family Trouble? Posted: 07 Feb 2022 05:21 PM PST Hey, sorry if this is a commonly asked question, but I have been having trouble understanding the resources I find. I was going to school to be a Medical Assistant, but had to drop out due to my medical conditions worsening and preventing me from completing my externship. I switched to an online program for healthcare administration after that, but due to even more physical roadblocks mental issues I was simply unable to keep up and had to drop out fully. Repayment begins in May and I thought I would be more financially stable… But I'm currently seeing so many doctors and working on getting partial disability because I work part time… On top of THAT, my mom keeps asking me for money and my dad has cancer so I've been trying to help my family out with that. Our insurance barely covers anything so I'm kind of drowning here and I'm afraid of what happens when the forgiveness period ends. I'm not entirely sure what my options are… I got denied for state health care and I know I'll have to find an attorney for disability, so I just don't know my options or where to start. [link] [comments] |
| IBR Recertification - Married filing jointly Posted: 07 Feb 2022 04:20 PM PST Hello, If my wife and I file our taxes jointly, is there a way to keep her IBR payments at the same level when she has to recertify? We are worried that by filing jointly her monthly payment minimum will skyrocket as I make a decent amount more than her. She took these loans out before we met, much less got married. I've heard from a tax professional and hints on other reddit threads that we might be able to argue with Navient and her other loan providers that this is her loan and my income shouldn't affect her ability to pay that back. The ideal outcome is that we are able to file our taxes jointly AND she is able to keep her payments as they have been. Does anyone have experience with this or know where I can find out for sure if this is possible? Thanks in advance. [link] [comments] |
| Posted: 07 Feb 2022 03:53 PM PST Hello! I am currently a second year medical student and had to take a medical leaving of absence from my university. To my surprise, I received a Title IV Return of Funds letter stating I had to repay the university $14,000 for my living expenses that are unearned. No one at the university has given me an alternate solution yet. I am unable to get a job as of right now due to these medical conditions and have planned to use the money for living expenses. Any advice would be appreciated! Thank you! [link] [comments] |
| No co-signer, who can I take out loans from? Posted: 07 Feb 2022 03:19 PM PST Hi everybody to start off, I am 23 years old and I have a credit score of 750. I am in my junior year of college (nursing to be exact) and the money is tight. I was able to pay for my first two years, but I'm out of financial aid and I need about 9-10 k to help cover this year. I can't work anymore (full time) because I am afraid I will fail my classes. I will only be working 15-20 hours. Anyways i have not a single person to co sign for these loans, I did have the courage to ask my mom, and she immediately told me no, which i don't blame her for.. but wow I'm out of luck. Are there any loans that you guys will recommend for me who might take me at my stats, who might give the best interest rate! Thank you [link] [comments] |
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