My student loan company is bonkers (AES PHEAA) Student Loans |
- My student loan company is bonkers (AES PHEAA)
- Anyone disappointed?
- Prodigy finance
- How to fix the student loan problem
- Private Student Loan Options for Refinance or Forgiveness
- Does IBR make student debt more worth it? Are student loans just another bill?
- i got civil action summons today, what should i expect to be the end result? any input helps
- The State of our Union...
- I need a second loan for completing my Master's degree. How can I get it with minimal losses?
- State of union address let down.
- HELP
- Did you get the borrower defense mass approval letter on Sept 7 2021? If so what’s your loan status?
- Has anybody made a payment on Nelnet?
- Student Paying Back Parent PLUS loan - death clause route?
- Question about monthly cap for PAYE
- Refinancing student loans - What to put for annual income if income has fluctuated (self employed)
- Refinance/Consolidation Advice
- Borrowers defense, master's degree.
- Limited PSLF Waiver question
- Any Republicans 4 Student Loan Forgiveness?
- Sallie Mae Loan Modification?
| My student loan company is bonkers (AES PHEAA) Posted: 02 Mar 2022 07:28 PM PST I have 2 loans through AES (American Educational Services. As of February my balance was around $9k. Today I received a check in the mail saying "refund" for $11k!!!!!! WTF. I log in to check my loan balance and now it's $16k, like seriously WTF!!! What the heck am I supposed to do? Pie in the sky answers are welcome ;) I'm seriously considering a vacay... [link] [comments] |
| Posted: 01 Mar 2022 07:12 PM PST Anyone else disappointed that Biden didn't even touch on student loan forgiveness in his state of the Union? Disappointed, but sadly, not surprised. Edit: grammar. [link] [comments] |
| Posted: 03 Mar 2022 12:42 AM PST I'm planning to take $15k loan from prodigy finance. I have uploaded all my documents and i got matched for the loan amount. They are saying that they will contact with my university and discuss about the details of the loan amount. Is there any possibility of cancelling the loan amount after getting matched? [link] [comments] |
| How to fix the student loan problem Posted: 02 Mar 2022 08:20 PM PST I read on a thread here the issue with forgiveness is that it doesn't solve the bad incentives of the current system. It makes college momentarily more affordable, but that only encourages schools to charge even more in tuition and fees. So here are a couple workarounds: (1) Demand "quality"—-as in so many other domains (e.g., childcare) there are certain requirements that a program must meet. For example, a curriculum for an engineering degree requires both certain coursework and, to gauge that it is delivered effectively, a sample of engineering students engage in standardized assessments on engineering. You could demand the same of colleges generally: tuition and fees must go to a certain share of approved expense categories (e.g., professors and courses, vs back office functions) AND student outcomes (career placement) must be met to receive to stay open/charge certain price/receive federal funding/etc. This alone doesn't solve the price spiraling problem, but it does link what you pay to what you get, which complements the second workaround: 2) Increase supply of foreign students who subsidize college for American students. There is such demand for a US degree: it helps foreign students both looking to stay in the US and is marketable abroad. There's a huge labor shortage for skilled talent in the US. Why not mandate a certain share of the student body must be fully paying international students? If foreign students effectively subsidize the scholarship programs of domestic students, you could significantly reduce debt burdens for domestic students What am I missing? Would these work as expected—increase quality and reduce effective price (for US students)? [link] [comments] |
| Private Student Loan Options for Refinance or Forgiveness Posted: 02 Mar 2022 11:52 PM PST In 2008 I attempted to become a commercial pilot. Unfortunately I didn't do due diligence to investigate the school I chose in another state and it turned out to be a scam. Long story short, I signed up, was directed by them to get 65k in private loans, turned the money over to them and signed a contract to go through their 1 year program to obtain all the necessary things for a commercial airline job. A few months into the program it was obvious that it wouldn't happen in year due to poor staffing and airplane availability. They bulk charged up front for the first few phases of training even though the most expensive parts would be at the end (multi-engine airplane stuff). I got about half way through the phases when it was clear it'd be months before the next one would start. I returned home and not long later the school closed up due to bankruptcy. An investigation then ensued and the owners were found guilty of fraud and jailed. Look up National Pilot Academy out of Cedar City, UT if interested in more detail. I was in contact with detectives and what not but ultimately nothing ever came from my pursuits to get any money back. I tried for a couple years but ultimately succumbed to depression and frustration and gave up trying to get help. As soon as repayment began, in early 2009, I've since paid minimum payments without missing any. Yes, I know this is has all been very poorly handled and I've beat myself up for it for a long while. I've tried hard to move on and have definitely learned from it all, though it cost me my dream job and gave years of poor mental health. So, now that a decade and a half has passed I have a 25k balance. Before I start dumping money to pay this down to get debt free I'm hoping for better options. Who might be an ideal person to talk to about how to go about either refinance or even if at all possible forgiveness for this? It's gone through a few different lenders and currently is with AES (which I've seen lots of horror stories about). Thankfully I've not seen any thing out of the ordinary, but would like to find a better solution to clear this up. [link] [comments] |
| Does IBR make student debt more worth it? Are student loans just another bill? Posted: 02 Mar 2022 06:47 PM PST I apologize if this is ignorant. I recently was accepted to a graduate program that would total my debt to 110k. This would create a steep monthly loan payment ($1200/month x10 years). However, with IBR my monthly loan payment would be much more reasonable (~$600). Of course I'd pay more overall over time, but I'd be able to invest more each year saving on the payments through IBR. This new career from grad school would make me happier, but is it worth the price of $600/month for 25 years? Do you all feel loans are just another bill? [link] [comments] |
| i got civil action summons today, what should i expect to be the end result? any input helps Posted: 02 Mar 2022 12:10 PM PST what type of lawyer should i speak to about sending a response, its my university trying to reclaim the money owed which is about 14k [link] [comments] |
| Posted: 01 Mar 2022 07:16 PM PST Not a single word on student debt relief... We are the future of the country and not a single word. That is all. [link] [comments] |
| I need a second loan for completing my Master's degree. How can I get it with minimal losses? Posted: 02 Mar 2022 03:57 AM PST Hi there! TL;DR: I'd like to apply for a master's degree and continue my studies at the university. But, I still haven't repaid my previous student loan and owe a hefty amount. A master's degree will give me vast career opportunities, and I really want to do it. I wonder if it's possible to take another student loan or somehow modify the current one. I graduated about 2 years ago. I have a degree in engineering, and I know that engineers nowadays are in relatively big demand. Still, doing a master's in this field will open new doors for a C-level position for me. Besides, when I've been job hunting, many large corporations asked for a master's degree. I know that I can save up money and study a bit later, but I want to achieve it before I turn 35. I don't want to sit still and work 9 to 5 like all my peers do. The thing is that I've borrowed a lot of money to go to college. My parents couldn't afford to pay for my tuition fees because of unforeseen family issues. I was lucky enough that I found a paid internship during college. It really helped me with this financial burden. It also helped me find a decent job after graduation. So, at the moment, I'm slowly but steadily repaying my student loans. I wonder how it all is going to affect my credit score? Is it really possible to apply for another student loan to do a master's degree any time soon? I've heard that student loans might significantly affect credit score in the future. I've been googling for answers and found some information about the BNPL Pay and a revolutionary uncollateralized Lending Protocol on https://bnplpay.io/. I wonder how it works and whether I can use this system in my case? Is it worth it, or it's better to avoid trying things I'm not savvy at? I'd be grateful for any financial tips you could provide. [link] [comments] |
| State of union address let down. Posted: 01 Mar 2022 07:17 PM PST This being Bidens first SoUA I would have expected some mention of debt relief/ restructure/ or anything but to not get mention in his wishlist agenda is incredibly shitty. [link] [comments] |
| Posted: 02 Mar 2022 04:55 PM PST I'm currently in a doctoral program graduating 8/2022. I just logged in and it's saying my upcoming payment starts 7/2025 WTH????? I thought it was 6 months after I graduated. Is this normal? [link] [comments] |
| Did you get the borrower defense mass approval letter on Sept 7 2021? If so what’s your loan status? Posted: 02 Mar 2022 03:14 PM PST |
| Has anybody made a payment on Nelnet? Posted: 02 Mar 2022 06:27 AM PST I'm planning on paying off the full amount of the loan before May 1st. Just wondering if anyone has already done it, and if so, how long did it take to process the payment? Thanks! [link] [comments] |
| Student Paying Back Parent PLUS loan - death clause route? Posted: 02 Mar 2022 08:51 AM PST Hi /r/StudentLoans, My GF and I have finally gone through the first step of loans, which is facing them. Here's the situation– I have about ~27K federal student loans, GF went to a more prestigious university and has about $120K ($20K private, $30K federal, and $70K federal parent PLUS). We are 2020 COVID grads, and are still in forbearance for the majority of our loans (minus the $20K private) until May. She is currently making about $55K, I'm currently making $76K but hope to switch jobs soon closer to $90-100K. The understanding when my GF took out the federal parent PLUS loans was she would have to pay back those loans herself after graduating. I know the parent PLUS is intended for parents to pay back, but neither of her parents are in a good financial/credit situation, and they have no intention of contributing in any way. Right now, we're just coming to terms with the size of the $120K loan, and figuring out the smartest way to pay this thing back. The $70K parent plus is the most concerning to me, since I know there is typically higher interest rates (compared to student federal loans) and tax implications when a child pays the parent's loan (if paying/gifting more than $15K per year). The loan is under her father's name. Honestly, I don't think he even knows about it whatsoever, since it was her and her mother that put together the PLUS loans. I noticed there is a death clause, where the loan is dissolved when the parent dies. Also noticed it stated somewhere the minimum monthly payment could be pushed down to $50. My GF has cut many ties with her father (he was an abusive alcoholic and caused a lot of lasting trauma we are still working through), but of course she wants to do the right thing and pay off the loan that was taken for her education. Ideally, we would pay off the entire loan balance as quick as possible. But is there another option that could involve the death clause while paying the minimum amount monthly for the rest of her father's life? Are there more issues with this that I'm not aware of? Her father is 54, theoretically if he lives another ~40 years (at the most?), $50 monthly over 40 years comes to $24K instead of paying the full $70K + interest. Does the death clause completely cancel the loan? Or will the government try going after his assets when he dies to pay this loan back? His name is on the house her mother lives in, but he does not live there and her parents are separated but not divorced. Would the government try to repossess that house or any of his inheritance/financials if he dies and the loan is still not paid? Any advice or tips to pay these loans off in the smartest way possible is greatly appreciated! [link] [comments] |
| Question about monthly cap for PAYE Posted: 01 Mar 2022 06:40 PM PST Currently about 3 years in for PSLF (PAYE plan) I have ~160k in loan and just started making money last year so my monthly payment currently is ~300 (will start paying this in May). Recently got a new position and now I will be making close to 200k. What will happen if my PAYE monthly payment becomes greater than my 10 year standard repayment (My standard repayment amount for 160k loan is I believe roughly 1500/month)? Will that kick me out of PAYE and make me pay standard repayment amount? If this happens, my payments will no longer qualify for PSLF? Obviously I am going to maximize 401K, HSA, etc etc in order to lower my PAYE cost but I just wanted to know what will happen if my PAYE 10% happens to be more than my 10 year standard repayment [link] [comments] |
| Refinancing student loans - What to put for annual income if income has fluctuated (self employed) Posted: 01 Mar 2022 10:21 PM PST I started doing independent contract work at the start of last year and just received my 1099-NEC tax forms for 2021. I still need to file those taxes but when I do it'll only show I made around $55k/year. As of 2022, however, my income is now closer to $120k/year. I'm currently paid weekly but each week I've been making progressively more up until now.
For reference my current loans are around $155k (Sallie Mae) and my credit score is 700-750 Thank you [link] [comments] |
| Refinance/Consolidation Advice Posted: 01 Mar 2022 12:34 PM PST I recently graduated in December with 78k in private student loans through Sallie Mae. I did manage to land myself a job making 60k so I am able to make my payments, however the issue is that Sallie Mae's rates are so high! I am looking to consolidate them somewhere else that doesn't have a history of giving people trouble like Sallie Mae. Any suggestions or advice are welcome, thanks in advance!!! [link] [comments] |
| Borrowers defense, master's degree. Posted: 01 Mar 2022 06:52 PM PST Howdy guys. I'm looking for info on borrowers´' defense program to have my student loans discharged completely or at least partially. I went and took a master's degree program for a year, I was supposed to get master's degree level classes but I was only thrown to the same classes bachelor's degree seeking people were taking, (i was taking the same classes as people in the 1st year of their bachelor's) so the quality of the class was not the best or what it was meant to be. I was in a program designed for people with international educational backgrounds, and the program didn't meet my expectations or those of my classmates. I'm afraid filling the application would have repercussions from the university, which is a pretty famous state university of a southern state. [link] [comments] |
| Posted: 01 Mar 2022 06:09 PM PST I consolidated my undergrad and grad loans together at a certain point before entering PSLF. Am I still eligible to get credit for any additional payments or am I disqualified due to the consolidation? [link] [comments] |
| Any Republicans 4 Student Loan Forgiveness? Posted: 01 Mar 2022 09:25 PM PST Anyone know of any republican voters who love paying their never ending federal student loans? I haven't seen any advocating for this on Tv… like nowhere! Maybe bc their isn't any…? Today's State of the Union was disappointing….he already knows we're gonna vote for his party's empty promises regardless of the gaslighting and despite not forgiving a single penny. Maybe its time for a diff grassroots angle that involves bipartisanship. Ideas, thoughts, memes..? [link] [comments] |
| Posted: 01 Mar 2022 04:07 PM PST First time posting in this subreddit. I am struggling to make my monthly payments through Sallie Mae and currently trying to refinance. The last time I called their customer service line, the rep spoke about a "loan modification program." Has anyone heard of this or tried it? I am desperate for any help or advice :( [link] [comments] |
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