Paid off my first (of three) loans! Student Loans |
- Paid off my first (of three) loans!
- Does anyone use their loans to pay for living expenses?
- In my aid package for ASU, most of the loans were Parent Plus while only 5500 were direct subsidized and direct unsubsidized. My parents do not want to take on the plus loans. What can I do?
- Releasing a cosigner
- Filing Separately for Income Based Student Loans?
- Should I apply for Income-Based Repayment before making a large payment?
- Loans show no accrued interest
- Best Approach: PSLF, Moonlighting, solo 401k?
- Defaulting on Student Loans Question
- Student loan debt question
- Should I pay off my $10k in Heartland ESCI loans?
- What are chances of successfully negotiating with Navient?
- Question about dropping out school
- Will Direct Unsubsidized and grad PLUS go to same loan provider?
| Paid off my first (of three) loans! Posted: 19 Feb 2022 03:53 PM PST I only have $1,700 left to pay and should have it done by summer! Took out 7,500 for my bachelor's (2019) and 13,000 for my master's (2021). I know it's not the most but I'm proud to say that one year after graduation I'll have two degrees, three years experience, and zero debt. [link] [comments] |
| Does anyone use their loans to pay for living expenses? Posted: 19 Feb 2022 12:00 PM PST Just asking for a friend...jk I posted about doing this on another thread and some people can't wrap their mind around it. [link] [comments] |
| Posted: 19 Feb 2022 05:52 PM PST Is my only option to take the balance of the parent plus as private loans? I heard undergrads can have a max of 57,500 in federal loans so idk why my aid package is mainly plus loans. I don't think I can pay off the loans myself if they all have high interest rates. [link] [comments] |
| Posted: 19 Feb 2022 11:19 PM PST I've been paying my student loans through Sallie Mae for the past three years. My dad co-signed my loans for me. I have been paying them on auto-debit on my own since I started paying. I would like to get him off as a co-signer. My questions are: Does my credit take a negative hit as they will pull my credit report? Will my rates go up if he is taken off? And, does anyone know the odds that they will release them? Thanks! [link] [comments] |
| Filing Separately for Income Based Student Loans? Posted: 19 Feb 2022 01:48 PM PST Its tax season and my wife and I are fully expecting student loan payments to return in full at some point this year. In the past, my wife and I have always filed jointly, but I now make a little more than double what she does. My student loans are completely paid off, however, my wife's loans are significant. Pre-pandemic student loan pauses, her income based student loan payments were basically the cost of a 2nd mortgage every month, largely because it also considered my income as part of the equation. We are considering filing separately to reduce the required payments when student loans fully return and hopefully give more flexibility on our end. Would this work or would they still use my income as part of the payment calculation since we are married? Are there any other suggestions to give us more flexibility on her student loans when they likely return? [link] [comments] |
| Should I apply for Income-Based Repayment before making a large payment? Posted: 19 Feb 2022 02:26 PM PST I have just under $40,000 in federal student loans from grad school. I am planning on applying for Income-Based Repayment soon but I also have about $10,000 that I have saved up from my business that I can put towards my loans. Would it be better to pay that $10K before I apply for IBR or after I do so? Would paying a large amount like that make me less likely to qualify for IBR? [link] [comments] |
| Loans show no accrued interest Posted: 19 Feb 2022 09:35 PM PST I just checked my federal student loans and the interest that had previously accrued during the past decade of having these loans isn't showing any more, just the principal is. I know that right now federal student loans are at a 0% interest rate, but does anyone know why the previously accrued interest wouldn't be showing up either? I don't want to call my servicer to ask in case it's a mistake and they fix it 😆 [link] [comments] |
| Best Approach: PSLF, Moonlighting, solo 401k? Posted: 19 Feb 2022 11:24 AM PST Hi, I'm not a physician, but of all content I found on this topic, I seem to be aligned most with the folks on this site. Hope this post is welcomed! Here's my situation (trying to include all details that matter). I'm 38 y.o., just finished a PhD with with just shy of 200k in loans. I work at a non-profit full time as Director of Research with salary 110k and have been maxing out the $19.5k retirement but the employer contributes nothing. I do not contribute to an FSA but I could look into it. I work 2 other unrelated jobs, some that pay W2 (I don't know why as it's a TV gig a couple nights a month) & most that pay 1099 (lecturer, instructor, etc.). I file taxes separately even though my husband makes similar salary because of better options for business write-offs for both of us, including IVF itemized deductions. My husband does not have any student loans. I do not qualify for PAYE or REPAYE based on some kind of loan that was included in my 2013 consolidation, so I am on the IBR plan, though haven't had to pay over recent months. I'm hoping to submit paperwork to get additional credit for payments I made between 2007-2016 with previous employers given the new voucher legislation, but we'll see. Finally, to my actual Question: I was recently offered a recurring moonlighting opportunity and given the option to choose Part-Time or Contractor. I would not get any employee-sponsored benefits as Part-Time, and the rate was nearly identical -- just one has taxes already taken out. After some consideration (I won't bore you with details here unless you ask), I chose to be paid as a contractor. I hope that was a worthy decision! My rationale included: being able to write off training, etc., but more than that, being able to get a solo 401k as a moonlighter. Can I contribute ALL of my moonlighting money to a solo 401k, essentially making those earnings look like nothing to the IRS & Fedloans? I estimate I will make around $25,000 from this one gig alone. Should I stop contributing to my full-time employer's 503b? Or can I continue to max that out and then allocate the money from my weekend moonlighting job to my solo 401k as my employer contribution? Unless I'm mistaken, the solo 401k is not limited to the percentage of profit as the SEP is... Do I have to pay quarterly taxes, even if I plan for no actual profit? Finally, what does it mean to be "controlled"? I reached out to a friend who is a financial investment advisor, and he replied, "I have some digging to do, but I need to find out if you are considered a 'controlled' person per your 9-5, which would make you ineligible for the solo 401k." Overall, is there anything else I should also be considering? Is this a completely wrong strategy? Thank you in advance! [link] [comments] |
| Defaulting on Student Loans Question Posted: 19 Feb 2022 12:44 PM PST Hi all, One of my siblings is pretty deep in their student loans and my mother is a cosigner. They are currently a couple of months behind student loan payments (private loans with Sallie Mae) and are headed towards defaulting. Both are unemployed and have no income. As such, I wanted to ask questions on how this may affect me (not a cosigner, just have the below circumstances). I am currently working full time and claim my mother as a dependent. She resides with me and I pay for all necessities along with some occasional luxuries she asks for. As such, she has practically no assets aside from clothes and the car in which I am a co owner with on the vehicle title. To my understanding, since my sibling or mother have no wages to garnish or money in banks, I suspect the student loan company to pursue seizing assets if they choose to file a suit. This leads me to my questions, if this route is pursued by the student loan company can they seize the car which I am a co owner of? What other items can they try to seize given I paid for everything in me and my mother's possession? Are there any other repercussions that may come to me as a result of my sibling and mother? As a note, the option of helping pay my siblings loans is not an option. Thank you! [link] [comments] |
| Posted: 19 Feb 2022 06:38 AM PST How does the debt affect your life short term and long term [link] [comments] |
| Should I pay off my $10k in Heartland ESCI loans? Posted: 19 Feb 2022 10:03 AM PST I have Federal Perkins loans from them that started in February 2021, about $10k. They have a 5% interest rate and I make automatic payments of $100+ a month. I have $20k+ in the nelnet loans that keep getting postponed. I have a lot in savings, and can pay off the $10k in full and still have a safety net. I'm just wondering if this is the smart move, because I don't really know much when it comes to loans. I do have some questions: if I pay off this loan, and Biden does some loan forgiveness, will I still be eligible for that? Should I just pay half? Should I refinance? Thank you for your advice! [link] [comments] |
| What are chances of successfully negotiating with Navient? Posted: 19 Feb 2022 09:33 AM PST I owe Navient $7k between two private loans ($4k and $3k each). I have two 60 day late marks on my credit report for each account around late 2016 and early 2017 during a time when their forbearance offer was really confusing. You couldn't tell when it was on or off. Total mess which really screwed me over. My loan also comes from a junk private school that's probably a for profit nightmare who clearly was steering students towards all these shady private loans. The teachers at this school even made claims about how much salary students would make during seminars and it was just very ugly. It all seems very much under the umbrella of some of these lawsuits, but rather than get too nasty I'd rather just pay them all off today under the condition that these 4 late marks be removed. Would I have any success having a phone conversation with anyone over there? [link] [comments] |
| Question about dropping out school Posted: 19 Feb 2022 09:25 AM PST I haven't really found a good answer to this question yet and was wondering if anyone has any experience or knowledge. Hypothetically if I take out a student loan for 20k, and then I want to drop out, what happens to my student loan. If I only use a certain amount of the loan for the first year per se, what happens to the rest of the loan not being used? [link] [comments] |
| Will Direct Unsubsidized and grad PLUS go to same loan provider? Posted: 19 Feb 2022 06:18 AM PST I already have a loan for a direct unsubsidized loan, and I'm thinking of taking out a grad PLUS loan for $3-4k. Will the PLUS loan automatically go to the same loan provider and lump into the one I have, or will it become two separate loans? I'm just trying to think of when I graduate, will I have two different student loan payments? [link] [comments] |
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