Only $2k put toward loan after paying $60k. How is this possible? Student Loans |
- Only $2k put toward loan after paying $60k. How is this possible?
- Would a county job count as public service?
- Parents have now abandoned all loans.
- Absolute noob in need of advice!
- Getting sent to collections help
- I just finished paying off roughly 95K in student loans! I celebrated by finding all the songs with "Student Loan" in the name on Spotify and adding them to a playlist and found this gem
- Student loan hold?
- Aidvantage Account for Federal Loans shows a due date of 2/13/22
- Can I calculate how much interest I paid?
- Bankruptcy after refinancing student loans
- I'm graduating this summer(August). Do I have 6 months from when I graduate until I have to start paying?
- PSLF email I just received from Richard Cordray (COO) - Federal Student Aid
- 38K In Student Loan Debt From Just Discover:
- 62k in federal loans—when will I hear back about my PSLF application & what would my monthly payments look like?
- How long does it take to process an extended repayment plan for parent plus loans ?
- Probability of getting approved for private loan(s)?
- Nelnet IDR “recalculation” of payments for mortgage letter
- How long does it take for a repayment program to take effect? For parent plus loans ?
- Balance Higher Now vs Disbursement… Predatory Repayment Options?
- Aidvantage continues with the screwups IBR payment was $430 now it $811
- which is better option for refi?
- My stepdad died and i am wondering if I am eligible for loan forgiveness.
- Does one always need a cosigner for a student loan?
- Misleading activity at FirstMark Services - is it time to take action?
| Only $2k put toward loan after paying $60k. How is this possible? Posted: 09 Feb 2022 07:49 AM PST I can't post screenshots here, but I saw a tweet today saying that someone has paid $60k, but only $2k of that was actually applied to the loan. Does this mean that only $2k of payments actually counted? Can someone explain to me how this even happens? I haven't started paying yet, and my loan isn't nearly that big, but I want to know how to avoid something like this… edit: Here is the tweet [link] [comments] |
| Would a county job count as public service? Posted: 09 Feb 2022 07:32 PM PST I've been offered a planning job at my county. I'm wondering if this would count as public service. I'm also wondering how I would be affected if I moved departments over the ten years that is required for the forgiveness. My end goal is not working in this specific department so if I had to stay there the entire ten years I'm not sure it would be worthwhile for me. [link] [comments] |
| Parents have now abandoned all loans. Posted: 09 Feb 2022 08:47 PM PST I always saw this coming. My parents told me I have to go to school, so I did. I brought up how I didn't want to have loans because of stress of repaying as an excuse. I was 18, and my parents convinced me they had a plan and I should take the loans and they'll cover it when time comes. Time came, they don't want to cover it. It first started with excuses, the market, they're old, what uni I went to. But it all ended in arguments and they eventually hang up and don't make any contact with me. Am I wrong for expecting them to at least help me pay it? I only took the loans after they told me to but my dumb 18 year old self didn't make them sign anything so it is all my responsibility at the end of the day, took the loans all to my name. It's not like they don't have money either, they get new "items" every 4-5 years that equals roughly 70k each time (don't want to give away what because they'll know it's me). I just feel like I was lied to and now I have no option, what's worse is I don't know what to do beyond this point. I cannot afford to pay bills, my parents treat me like a debt collector, just super depressed. I make 60-75k a year, and my loans are at 100k. My monthly payments of rent, insurance, utilities, food, makes it so I can't make the payments for my loans, I am already on the MAX loan period I can get. If anyones wondering what I wanted to do when I was 18? Work and save to buy a few properties. Start slow ofc but get there eventually. Now I owe so much a month I won't be able to save for a basic mortgage for a while at 75k a year. Don't be me, don't be dumb, if I could talk to my 18 year old self I would tell him to NOT do what I did. My undergrad is useless too, you could learn this in college. Tdlr My Financial status is not good, I can't afford to pay the monthly sum and live. My parents backed out, so I'm trapped for a lack of better words. [link] [comments] |
| Absolute noob in need of advice! Posted: 09 Feb 2022 12:04 PM PST Greetings y'all, Long story short my wife has ~$230k in federal loans ranging from 3.5-7% interest after just graduating law school. I am active duty military and I have never had any loans so I am a bit lost here. Our income after taxes is $115k/yr. My points of confusion are the following; I know that currently student loan interest is delayed until May 1st, would you recommend that we start paying off her loans now or invest the money until may 1st? Since all her loans are federal loans is it possible to refinance the multiple federal loans into one private loan that has lower interest and is this advisable? (We both have excellent credit that ideally we wouldn't want to lower). What are the best strategies in getting this major debt paid off quickly? My wife and I do foresee significant increase in our income once she gets a lawyer position and I complete my military contract (in 3 years). Should we live minimally until the debt is mostly paid off? Any other wisdom that you can share? Thank you for reading! [link] [comments] |
| Getting sent to collections help Posted: 09 Feb 2022 10:33 PM PST Around June I enrolled in Macomb Community College. A month later due to Covid I had to take finaclial responsiblty of my sister. to give myself more time to work I decided to put my college career on hold. But before I unenrolled from Macomb I asked the financial aid employee would I be responsible to pay back anything. Which would have been perfectly fine I just wanted to be prepared and she said no you will have no charges and it would just show as unenrolled. last week I receive a letter stating that I have until Feb. 10 to submit a payment or I will be reported to collections. I called the school who is now saying their oblivious to our previous conversation and I will have to pay the remaining balance which is not from loans. it is from the reduced grant money given to me by FASFA. In Which I told MCC I wouldve stayed enrolled and completed my courses for free since the route of this issues is centered around repaying a grant loan that would've been free if still attending. [link] [comments] |
| Posted: 08 Feb 2022 07:21 PM PST Virtually unknown band, but a great song. Student Loans by Manual The Band https://www.youtube.com/watch?v=cPLBoCbSww8 [link] [comments] |
| Posted: 09 Feb 2022 11:44 AM PST I graduated college in 2014 and have been paying off my student loans since. I have $20,000 approximately of student loans left. I have never missed a payment and have been paying $250 every month since, on time without fail. I applied to graduate school and they requested transcripts from the school I got my degree from. The school says they will not give my transcripts out until I pay off all my student loans. I do not have $20,000 in my pocket right now. Is this typical? Or even legal? One was a Perkins loan and the other was a university issued loan. They are serviced through a company called ECSI. I do not understand why all my student loans need to be paid off to get my transcripts if the school was paid in full by the loans when I attended and I had no outstanding balance as my tuition was paid by the loans (which I am of course paying back, but the school saw their money in full). [link] [comments] |
| Aidvantage Account for Federal Loans shows a due date of 2/13/22 Posted: 09 Feb 2022 08:14 PM PST Title says it all. Why is this not pushed back to May 1? [link] [comments] |
| Can I calculate how much interest I paid? Posted: 09 Feb 2022 02:13 PM PST Hello student loans, I recently paid off my loans (yay), and I want to know how much I've paid in total - including interest. I looked at my loan docs over the years and while I can see the original and remaining balance, I don't know how to determine how much I paid for interest. My loans were originally split between private and public, then I refinanced two times. I thought of just calling the loan servicer(s), but I dk if they would even have that info, and in general that sounds awful. Any ideas? Thanks! [link] [comments] |
| Bankruptcy after refinancing student loans Posted: 09 Feb 2022 07:49 PM PST So I plan on going through with bankruptcy very soon, but wanted to know if doing this can affect the interest rate that i would be paying once i refinance my student loans (have not done so yet). Basically, with my relatively good credit score as of now, I could receive less than 3% interest on refinanced loans, and am wondering if after doing this at a fixed interest rate, would going through bankruptcy alter my payment plan for the student loan? Thank you for any help! [link] [comments] |
| Posted: 09 Feb 2022 07:23 PM PST I apologize in advance if this post comes off as uniformed, I am just confused when it comes to this stuff. I initially planned to graduate this spring, but I had to push it back to the summer due to class scheduling conflicts. I'm taking two classes(6 credits) so I will be enrolled half time and I don't plan on taking out any loans to cover the summer tuition. When I applied for all my loans I put this spring as my graduation date, so would I have to contact them myself to change that or does my school let them know when I graduate? [link] [comments] |
| PSLF email I just received from Richard Cordray (COO) - Federal Student Aid Posted: 09 Feb 2022 08:47 AM PST In November, I emailed to tell you about big changes to the Public Service Loan Forgiveness (PSLF) Program. We're grateful for your public service. Our changes will help you get the credit you deserve in return. I am reaching out now to update you on our progress. More than a million student loan borrowers could benefit from recent changes to the PSLF Program. You're one of them. At this time a year ago, PSLF had helped forgive some or all loans for fewer than 7,000 people. That number is now close to 70,000. We have heard from these people and see how our loan relief is transforming their lives. Starting this month, many borrowers will begin to see updated payment counts. Both Federal Student Aid and your PSLF servicer are working hard to monitor your accounts and make sure you get credit for your progress. The work is massive. We must do it in phases. To make all the adjustments may take a few months. Please let us focus on helping you. Give us time and try not to flood our phone lines. If your payment count increases, FedLoan Servicing will send you an account update. You will get an email or letter. It will tell you what actions, if any, you need to take. You can log in to FedLoan's borrower portal to track your payment counts. This is the best way to check on your status. We are also adding new information about the changes on StudentAid.gov/pslfwaiver. It has answers to frequently asked questions. We are determined to deliver for you on the promise of public service loan forgiveness. Thank you for your service and your patience. We will send more updates soon. Sincerely, 📷 Richard Cordray [link] [comments] |
| 38K In Student Loan Debt From Just Discover: Posted: 09 Feb 2022 06:53 PM PST Hi everyone! I'm a current second semester sophomore in college with 38,000 dollars in debt just from Discover. I'm aware how screwed I am but would it be worth it to finish out my last two years of school at a cheaper university or should I stay were I am now and likely have to take out upwards of 90,000 dollars in loans? [link] [comments] |
| Posted: 09 Feb 2022 05:39 PM PST I work at a college (oh the irony) and plan to work in higher ed for a long time. Most institutions are non profit so they are considered PSLF eligible. When should I hear back? I just got a letter saying that they received my application. Also, with this amount of debt, what would my monthly payments potentially look like? Right now I'm in a IBR plan but my monthly payment is like $360, which is sort of high. Thanks in advance! [link] [comments] |
| How long does it take to process an extended repayment plan for parent plus loans ? Posted: 09 Feb 2022 04:59 PM PST |
| Probability of getting approved for private loan(s)? Posted: 09 Feb 2022 04:21 PM PST What are the odds I'd be able to take out the loans I need for my upcoming 4 years? I can't seem to get a straight answer from anybody in the industry without actually applying and getting hard inquiries on my credit, and no real answer at all when I try to theorycraft for sophomore year's loans. I'm an adult (33) trying to start school this fall for Electrical Engineering. My current income is roughly $35k, so I'm not eligible for grants of any sort. (FAFSA completed already) Current income will drop to $0 while in school however, since I know I'll struggle with the coursework if I work at the same time. (I've tried it before) I'll be eligible for Pell Grants in years 2-4, so at least I've got that going for me. I'll be trying to borrow tuition as well as living expenses for the 4 years. Total's a bit less than $40k/yr. The debt doesn't bother me all that much, but I just need to be allowed to borrow it. Currently have 810-ish credit with 15 years of history, and hopefully this could be enough to avoid involving a cosigner. It doesn't seem fair to me to have anybody else stick their neck out without any real benefit to them, so I'd like to avoid it if I can. Do you think companies will be willing to sell me the loans for 4 consecutive years if my income is 0? It's not like I can dissolve the debt with bankruptcy, so what's the risk? Thanks for whatever wisdom you can offer. :) [link] [comments] |
| Nelnet IDR “recalculation” of payments for mortgage letter Posted: 09 Feb 2022 04:15 PM PST Applying for a mortgage (under contract so this is a hot mess). My federal loans were recently transferred to nelnet. I have been on the IDR plan for years. I recertified on time in December 2021. Now I went to retrieve my mortgage verification letter and nelnet has me in the 10 year payment plan making my monthly payments enormous. So I reapplied to IDR. They said I'm already in IDR but they need to "recalculate" my monthly payment with pay stubs. This can take up to 1 month. I literally just receritifed in December and have not had a change of income. I cannot wait one month for them to give me the damn mortgage letter. What can I do? [link] [comments] |
| How long does it take for a repayment program to take effect? For parent plus loans ? Posted: 09 Feb 2022 02:38 PM PST |
| Balance Higher Now vs Disbursement… Predatory Repayment Options? Posted: 09 Feb 2022 01:54 PM PST Seeing a lot of posts today about people making payments routinely, but their balance is higher today than when their loans were disbursed. In this example, the payment isn't even covering the interest that's accruing on a daily/monthly basis. Why are these repayment options even an option? This is a recipe to literally never get out of debt. How is this not predatory lending? If you buy a car or a house, there is an amortization schedule & the structure of the loan tells you when you'll be paid off. Why don't student loans follow the same model? There's a lot of talk about forgiveness, but wouldn't fixing predatory repayment options like this would be a step in the right direction? [link] [comments] |
| Aidvantage continues with the screwups IBR payment was $430 now it $811 Posted: 09 Feb 2022 07:28 AM PST So I received correspondence in January after renewing my IBR that my payment would be $430. Just today I received correspondence with the same wording my payment would be $811. I called them and they are saying I won't know my true payment until 30 from when the pause ends. How in the heck can some one even budget for this? How in the heck can even get this corrected if there is a problem with there only being days? [link] [comments] |
| which is better option for refi? Posted: 09 Feb 2022 08:53 AM PST refinancing $41141 currently at 5.49%. pymt is $373/mo but i pay $400.00. 153 pymts left.
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| My stepdad died and i am wondering if I am eligible for loan forgiveness. Posted: 09 Feb 2022 10:21 AM PST A bit of info: I started college having my stepdad as a co-signer on my loans. In my junior year he died. I am a senior right now. I currently have unsubsidized Stanford loans that I will need to pay back following graduation. But due to the change in family income after his death, I would imagine I may be able eligible for grants on top of my loans, potentially. Either way, it seems like my financial standing would change my financial aid. My big question is, does anyone know if I can get any forgiveness on my loans (not have to pay some of it back)? If so, how might I go about trying to get that forgiveness? Thank you to anyone with knowledge on this, it seems like the system makes it impossible to find out this info. [link] [comments] |
| Does one always need a cosigner for a student loan? Posted: 08 Feb 2022 09:59 PM PST Hi everyone First time student. I got accepted into a school and i need to take out a loan. I am unsure if I should go public or private, and I am wondering how people go about getting loans without a cosigner. Also, does it make sense to take out one large loan, or a bunch of small loans? Thank you. [link] [comments] |
| Misleading activity at FirstMark Services - is it time to take action? Posted: 09 Feb 2022 05:37 AM PST We all know student loans need an overhaul but I keep running into similar payment issues with FirstMark. Tiny background: I have a debit card that allows me to earn cash back on purchases thus I use my debit card to pay my bill. This issue: Account Balance Due - $980 Debit card transaction (was guaranteed it would be applied to the entire account) - $1020 Payment processed in two business days. Account Balance due - $91.00 I've called them and asked for an explanation and was told it looks to be delayed processing. Give it a day. A day has passed and after doing my own investigation it seems that the payment was spread across all loans except for 1. I like to pay my minimum balance plus a tiny amount then target one loan and pay more into that one. Anyone have any advice on how to tackle this? I hate to seem sue happy but this is starting to become a ridiculous nuisance. [link] [comments] |
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