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balancedbias posted:I'm not sure I understand what you were trying to "lock in." Was this a drop because of recurrent payments? Was it a reward if you consolidated? If it's the first, then there was nothing for you to do. If it's the second, well...I would've hoped you had some other accounts at 6.8 or something because "consolidating" would only end up adding an extra consideration and you're new loan at a new rate is a completely separate entity. 4 loans all at 2.36%, ignoring all discounts, I have no idea why this now has a base of 2.375%. All I was locking in was the low rate, which is more or less as low as it's gonna get. The .25 discount has been reinstated and previous interest accrued has been killed. But the rate is still off. The hilarious thing is that their system set the payment date at a date which does not jive with what it should be and a payment amount which is entirely too low... So I get phone calls from collectors about late payments. Good stuff that.
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Jan 1, 2012 18:46
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samizdat posted:I'm so nervous to call them! My experience with them when going through a really bad stretch of "no money, no job" was they didn't require any documentation over the phone for my situation, they advised against forbearance because of the way it capitalizes interest and instead I had an agreement to pay em $15 a month for 6 months and check in when things got better. When SLM bought out the FFEL last year, they also helped a lot in sorting things out and totally backed me as my intent was "pay off everything instantly rather than deal with SLM ever again". SLM decided to take their sweet rear end time in allowing any payments on the loan for over a month, screwed up on the interest rates and running up interest while at the same time refusing payments. They claimed that it was the fault of Great Lakes... GL sent over documentation showing it was all processed on their end long before. SLM didn't like me having recordings of their people saying things and all interest got waived, rate set to what it should be and they were paid in full 4 days later with a profit of about 50 cents on it for their troubles. Basically, call GL, work with them, they are good people and probably the only decent people to deal with in the whole drat industry.
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Jan 1, 2012 18:54
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But I'll do it this week and hope for the best.
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Pro-PRC Laowai posted:4 loans all at 2.36%, ignoring all discounts, I have no idea why this now has a base of 2.375%. All I was locking in was the low rate, which is more or less as low as it's gonna get. The rate isn't off at all: it's exactly what it's supposed to be. It's like this because when you consolidate they round up to the nearest 1/8%, so 2.36 gets rounded up to 2.375%. Here's the page that outlines it, under "What is the interest rate?" http://studentaid.ed.gov/PORTALSWebApp/students/english/directconsolidation.jsp Studentaid.ed.gov posted:A Direct Consolidation Loan has a fixed interest rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%. However, the rate will not exceed 8.25%. T0MSERV0 fucked around with this message at 19:44 on Jan 1, 2012 |
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Jan 1, 2012 19:41
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T0MSERV0 posted:The rate isn't off at all: it's exactly what it's supposed to be. It's like this because when you consolidate they round up to the nearest 1/8%, so 2.36 gets rounded up to 2.375%. Oh well... then seeing as it's basis + 2.3%, and everything rounds up to 2.375 as the next lowest eighth is 2.25... then locking in at the 2.375 is basically the best possible. One less thing to worry about at least. Thanks for the link. Doesn't change the annoying crap with the due dates though.
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Jan 1, 2012 20:34
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Sorry if something similar has been asked and I missed it, but here is my situation- I'm going to be graduating with my Master's in Social Work in May. Between my undergrad and graduate loans, I should owe about 25k. There is a federal program that will pay back 50k in loans if I pledge to work two years for the company that I already work for once I get my LICSW (in 2 years). Because of this repayment program, I want to pay as little as I can on my loans from once I graduate in May 2012 until 2014 when the government will pay back all my loans. What is the best game plan to pay off as little or nothing on these loans and have the government wipe them out for me in 2 years? code:Joker fucked around with this message at 19:21 on Jan 3, 2012 |
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Jan 3, 2012 19:10
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I would say the Income-Based Repayment plan might be your best bet, as it's a real repayment plan with lower payments so you won't be using any deferment/forbearance time to pause the payments. But it will depend on your income. You will have to wait until you've graduated and your loans enter repayment to really explore your options. Congratulations, by the way! 
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Jan 3, 2012 20:10
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Wiggy Marie posted:I would say the Income-Based Repayment plan might be your best bet, as it's a real repayment plan with lower payments so you won't be using any deferment/forbearance time to pause the payments. But it will depend on your income. You will have to wait until you've graduated and your loans enter repayment to really explore your options. Thanks! And thank you for making this thread! Wouldn't it be best to defer for as long as I could so I didn't pay anything then got for the Income-based repayment plan? Also I think I deferred for 6 months on my initial undergrad loans, can I defer these again? Is this the same as the "grace period" or am I getting the two confused? Is the income-based repayment plan based on dual income of my wife and I or just me? If I consolidate these loans will I still be able to use the federal loan repayment (through the National Health Service Corps)? Joker fucked around with this message at 20:43 on Jan 3, 2012 |
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Jan 3, 2012 20:35
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Ok, how do I get ACS to group my loans the way I want? I've tried calling and tried emailing, they only offer the option to send an email after each payment. Edit: Just noticed I got "Important Informatino (sic) regarding your KwikPay." Apparently, my next payment will be debited on 200.00 in the amount of $07/28/12. Good job guys. Guy Axlerod fucked around with this message at 03:52 on Jan 5, 2012 |
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Jan 5, 2012 03:50
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Guy Axlerod posted:Ok, how do I get ACS to group my loans the way I want? I've tried calling and tried emailing, they only offer the option to send an email after each payment. If ACS is myedaccount.com call and ask for a manager. Don't accept 7-10 days.
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Jan 5, 2012 03:58
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modig posted:If ACS is myedaccount.com call and ask for a manager. Don't accept 7-10 days. They didn't even offer 7-10 days. I don't think they even understood what I was asking for.
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Jan 5, 2012 04:19
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Guy Axlerod posted:They didn't even offer 7-10 days. I don't think they even understood what I was asking for. I had exactly the same problem, I posted this summary of my experience. How I got them to regroup my loans. Basically, ask for a manager, explain that you want the loans regrouped by interest rate.
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Jan 5, 2012 04:34
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The grand total of my student loan debt currently sits at $31,663. Here is the breakdown:  I originally graduated from college in May 2008. The loan once totaled $37,000, so I've made some progress, but not as much as I'd like to. My wife and I currently have around $15,000 saved up in an emergency fund. By the end of next year, we should have around $18,000 saved at our current rate of saving. We have no credit card or auto debt. We do have a mortgage of 4.5% at $115,000. Beginning this year, we're going to be paying about $1,000+ each month on the total of the loan. Assuming my calculations aren't completely off-base, we may knock out enough from the loans for the total to be equal to the amount of money we have saved up at the end of the year. Am I absolutely nuts to want to use our entire savings to completely wipe out these loans if we have enough saved up? I know that opens us up for trouble, but we would be completely debt free outside of the mortgage and could use the money we're not spending on the loan to quickly load our savings back up.
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Jan 6, 2012 04:03
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It's going to be tricky without looking at the terms of the "Palmetto Assistance Loan". From googling, it seems to be a loan given out by the state of SC. I'm assuming it's non-dischargable and ineligible for IBR. I normally don't think taking out your savings to pay federal student loans is a good idea, but it may be different since a good chunk of the loans are these state backed loans. Here is what I would consider: • What is your income? How long will 15k last given your current expenses? • Does your wife have any student loans? You'll need to factor those in as well. • Do you make mostly equal incomes? If one of you loses your job, will you be able to meet your financial obligations on one income for a while with minimal reliance on savings? Do you both work in the same company or industry, meaning that there is a significant chance you may both be laid off at the same time? • What are the terms of the state loans? Can you go on any sort of forbearance if you are in financial trouble? • Do you anticipate any major life changes in the next few years? I'd suggest holding at least four months expenses into savings, you may be able to get away with less if you can live on either one of your incomes and your jobs are isolated from each other. If you do decide to pay early, I would focus on paying down the Palmetto Assistance Loans over the Stafford ones. The federal loans are a higher interest rate, but if there is a significant reduction in your income you can go on IBR for the federal loans and get a lower payment you can afford, while your payment will probably stay constant on the state loans.
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Jan 6, 2012 15:05
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Konstantin posted:It's going to be tricky without looking at the terms of the "Palmetto Assistance Loan". From googling, it seems to be a loan given out by the state of SC. I'm assuming it's non-dischargable and ineligible for IBR. I normally don't think taking out your savings to pay federal student loans is a good idea, but it may be different since a good chunk of the loans are these state backed loans. Here is what I would consider: Thanks for your response. Let me respond to your questions: 1. I make $28,500 and my wife makes $29,000. Given our current expenses, that $15,000 would last us about 8 months currently and up to 10 months if we cut back on a few other things. 2. My wife is student loan free. Her technical college experience was completely paid for thanks to scholarships given by the state. 3. As I said in the first bullet point, we both make around the same income. We bought this house at the price we did because we knew if either of us lost our jobs we could still afford to make ends meet. The mortgage is $750 a month and our expenses total around $1600 a month. My wife is a paralegal with a good firm, so her job is relatively safe. I work in media writing for a local news website, so I believe my job is relatively safe as well considering the website is the only thing making lots of money. 4. I am not aware of any sort of forbearance. 5. This is the big one. My wife and I are getting the itch to have children in the next two years. My goal was to have the student loan paid off by the time we had children so we wouldn't have to worry about money. We've done well in the past few years despite how the economy has been. We managed to pay off my $12,000 car in about a year, save up all that money and pay off about $6,000 worth of that loan. Paying off this loan in this short amount of time has been a dream of ours because both our parents aren't the best when it comes to money. Technowrite fucked around with this message at 18:48 on Jan 6, 2012 |
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Jan 6, 2012 16:47
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Joker posted:Thanks! And thank you for making this thread! Wouldn't it be best to defer for as long as I could so I didn't pay anything then got for the Income-based repayment plan? Also I think I deferred for 6 months on my initial undergrad loans, can I defer these again? Is this the same as the "grace period" or am I getting the two confused? Is the income-based repayment plan based on dual income of my wife and I or just me? If I consolidate these loans will I still be able to use the federal loan repayment (through the National Health Service Corps)? That 6 months should've been your grace period, unless you had already used it previously. If your grace period didn't expire the first time, you still have it. If it did, you no longer have it on the loans from that time but any new loans should still have the 6 months. If you need to, you can always call your servicer and ask about the tons of other deferment/forbearance options they have. Be sure to ask about deferment options first, since these are the ones that will save you on interest for your subsidized loans. If a deferment isn't available, you can then move on to forbearance. As for whether pausing your payments is better than making payments in the meantime, that's up to you. Either way your credit will be fine (although making regular on-time payments can help improve your score, where a def/forb would just be reported as current on def/forb). I admit that I'm a tad suspicious of forgiveness programs, namely the fact that Congress can take them away at any time - and right now they are very steadily chipping away at education benefits for post-secondary education (goodbye Graduate subsidized loans). So personally, I would rather get onto a payment plan and be making regular payments, juuuust in case. But! You can always slap the money you're not paying to your loans into a savings account. It's totally up to you, and will be based on whatever you're comfortable with.
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Jan 6, 2012 19:22
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In about 5 months I'm going to graduate from a private medical school that boasts anal-rapingly high tuition, and as a result I have a ton of student loan debt. Nearly $260,000 to be precise. Help! Here are the specifics: I have taken out the maximum in the subsidized stafford loans ($8500), maximum in unsubsidized stafford loans ($32,000?), and the remainder I needed for expenses in grad PLUS loans, for each of the previous 4 years. When I start residency July 1st, my annual salary will be around $52,000 or so, depending on which program I match into. Here are the exact balances as of today:  (The names shown for each loan are how I entered them based on how the showed up on my Nelnet summary page, I'm not 100% sure they are correct) Many factors remain to be determined in my budget (which program I match into, where I live, whether I will have a roommate or not, public transit vs driving, etc), but I'm anticipating being able to afford paying between $1000 and $1500 per month toward my loans once I start working. So my question is, what steps should I take to ensure I get the most out of my money over the next few years? Do I want to make minimum payments on the lowest interest rate loans while dumping the rest of my money into the higher interest rate loans? Do I want to consolidate my loans, and if so, when? The link to the direct consolidation website in the OP has some alert about a "special consolidation" in effect from now until June of this year, which I didn't really understand. What is that and should I use it? I read that there is some special forbearance for medical grads. Do I want to take advantage of that, and how? I'm sure my financial aid office at school will fill us in on some of this stuff as we get closer to graduating, but I always like to plan ahead. Here are the results of the info I put into the direct consolidation website calculator (not sure if this is useful to whoever answers my questions):  (Note 3 says something about not qualifying for IBR because I do not have a financial hardship based on my income and family size)
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Jan 6, 2012 22:25
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I am an older student taking online courses at the Florida institute of Technology online school. I have stuck with it because even though it is expensive, I could never find an online community college that was as easy to use, well set up, etc., and I just can't do the regular school thing right now. By the way, they are considered private-not-for-profit, but they do seem pushy sometimes. They just gave me financial loans for the next three terms – (two months each. There are 6 terms per year with 2 classes each term for "full time" students. This went over the limit of the 10,000 or so you're supposed to receive in federal loans for the 2011/12 school year. And I think it would come to around $14,000 I have received in federal loans so far not counting Pell grants. Did the new fasfa/financial aid year start, or can some schools do this? The school said they “give out new aid per 24 credits”, which I completed, so if I accept these loans, will I be scr*wed in 6 months when I run out of aid and not have 24 more credits? I should be eligible for Pell grants by then, but this will not cover too many classes. Does anybody have any information about this 24 credit rule from any schools they went to? They did not explain this well to me. They said they can't tell me how much I will receive in aid after these 6 months, but I did not get any Pell grants for these next terms, so I do not think it's a new fasfa school year loan. I will be paying some out of pocket these school terms (a couple of hundred) because I ran out of Pell grants. I don't want to do this if it takes all of my aid, and leaves me without a degree. I also can't afford to start paying too much out of pocket. Any help would be wonderful, thanks.
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Jan 8, 2012 10:22
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I realize this isn't the scholarship/grant thread, but I couldn't find one and you linked to Fastweb in the OP. I never graduated high school, but I do have a GED. Are there any scholarships for people with GEDs, and how do I fill out the form on fastweb when I never graduated?
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Jan 9, 2012 00:14
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I just made a payment at direct loan, and my entire deposit went to interest....nothing to capital. Why would they do this? How am I supposed to get anywhere if I'm not paying towards principal?
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Jan 9, 2012 09:06
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tishthedish posted:I just made a payment at direct loan, and my entire deposit went to interest....nothing to capital. Why would they do this? How am I supposed to get anywhere if I'm not paying towards principal? Depends on the timing of the payments, your payment length, if you missed a payment, etc.
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Jan 9, 2012 14:47
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22 Eargesplitten posted:I realize this isn't the scholarship/grant thread, but I couldn't find one and you linked to Fastweb in the OP. I never graduated high school, but I do have a GED. Are there any scholarships for people with GEDs, and how do I fill out the form on fastweb when I never graduated? I can't totally help you, but you did technically graduate if you have your GED. I left high school after two years, took the proficency exam (GED equivalent for those under 18) and started at a junior college instead of finishing high school. I've never had any problems getting grants. There is usually an option to select that you got a GED/Proficency certificate.
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Jan 9, 2012 16:12
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tishthedish posted:I just made a payment at direct loan, and my entire deposit went to interest....nothing to capital. Why would they do this? How am I supposed to get anywhere if I'm not paying towards principal? If you are on IBR, they make you do this. You can't pay a penny to principle until all the interest is paid off. Which is retarded and I'm stuck in an interest hole at the moment that will probably take me a year to get out of.
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Jan 9, 2012 17:05
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penisclaw posted:In about 5 months I'm going to graduate from a private medical school that boasts anal-rapingly high tuition, and as a result I have a ton of student loan debt. Nearly $260,000 to be precise. Help! God drat. All the people posting their car-sized loans were making my pants wet in jealousy, and then you showed up and I don't feel as bad. In other news, I submitted my IBR request documents. Hopefully gets approved
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Jan 13, 2012 21:05
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penisclaw posted:In about 5 months I'm going to graduate from a private medical school that boasts anal-rapingly high tuition, and as a result I have a ton of student loan debt. Nearly $260,000 to be precise. Help! 'sup, fellow medical field buddy? What specialty? That's not a general question, either. Your projected income will make a huge difference as to how you'll be able to attack your student loans. Back in the ole days (  I mean finishing med school in 2006) the interest rates were the best and I was able to consolidate twice to lock two different sets at 1.75 and 4.625 respectively. I feel for ya. *rambling off* The special consolidation option sounds really good from a few colleagues I've talked to. Basically, the gov't has noted that people are paying an exorbitant amount on loan payments, so they have a system to cap the payments AND lower the interest rate. Call your loan providers ASAP to see if you qualify because on loans as big as yours it can save you tens of thousands of dollars over the life of the loan. You may end up with one huge loan, one capped payment (I'd like to think that you can still prepay)and a term that's basically mortgage length (probably 20 years). Also keep in mind (whether in an underserved area or not) you should negotiate for a loan repayment plan for your first job out of residency. Oh, and moonlight as soon as you're eligible and put all of that income towards the loan.
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Jan 14, 2012 18:41
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I have a question about "unconsolidating" a consolidated student loan. Everything I have read says this is not possible and OSLA has also been negative any time we asked about this. The situation, which I can't imagine is extremely uncommon, is that my ex and I graduated, consolidated our loans to reduce our monthly payment, and then not 6 months later got divorced. We agreed, through our decree of divorce for myself to pay 2/3 of the monthly payment and her to pay 1/3. She definitely got the better deal there, but I did take out more loans than she did before the consolidation. For several years this has actually worked out better than one would think since we've remained friends and are both responsible individuals, but we'd still both prefer our debt to be separated. So it seems like our options are to take out individual personal loans and pay off OSLA using that or to just make extra payments to pay it off as soon as we can. It would seem pretty clear that the consolidated loan can't be split, however I just noticed on my credit report that the loving thing is split! There are actually two accounts on the loan, divided very close to our respective amounts. Is there any reason they can't unconsolidate it by account, assigning one to me and one to her? I ask here because it's a huge pain in the rear end dealing with OSLA and I'd like to be as informed as possible before contacting them if I do.
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Jan 14, 2012 19:15
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penisclaw, the only benefit to NOT consolidating is if 1. you can afford the payments as-is and 2. you want to keep the lower rates you have on the 6.8% loans. When you consolidate, they take a weighted average of all of your loans, which means your 6.8's would rise but the 7.9 and 8.5's would fall. The PLUS loans cannot be consolidated with your federal loans unless they are GradPLUS loans you took out in your own name, or PLUS loans you took out in your name on behalf of your child. Otherwise, they are only displayed for your information. From this view, it looks like they're all PLUS loans a parent took out for you. The parent can certainly consolidate them to make payments easier, but you can't consolidate them into your totals. Frankly, interest rates are all fixed right now so there's no "fixing your interest rate" benefit that consolidation would give you. The biggest help it would be is helping you with payment plans and extending your repayment period, BUT your balance is high enough that you can actually qualify for stuff like the Extended repayment plan without having to consolidate - it's based on total balance, not whether the loans are consolidated or not. The best thing for you will be calling up the servicer and discussing your options in detail right now, then exploring consolidation if it might help you. It might not even be necessary for you, just depends on your situation. Good luck! Morax, what kind of loans did you get? The annual aggregate limits only apply to Stafford loans, so if the school gave you a Perkins loan for instance this can bump up the totals. As long as the loans you're being offered are based on the FAFSA and not any kind of credit check, you're fine. Also, medical students are eligible for additional aid. Are you in some kind of medical program? Finally, graduate/professional students are eligible for higher loan amounts. Are you either of these? Presumably not since you said you got Pell and graduate/prof students aren't eligible for Pell, but I wasn't sure if maybe you're on the second level now and weren't then. 22 Eargesplitten, may I ask what the name is in reference to? That took me like ten full seconds to spell correctly, and I was looking right at the username while I typed! Anyway, as Walk Away said, the GED is pretty much the same as a high school diploma in terms of scholarships/grants and federal aid. Have you tried filling out your profile on fastweb? It should have that option on there, and will filter scholarships/grants as needed. tishthedish, to be more specific, basically any time you make a payment the money hits accrued interest before anything else, so if you're making a payment that doesn't satisfy the interest on the account, every penny will go to interest. For example, you have $200 interest accrued and make a $150.00 payment. All $150.00 hits interest and none goes to principal, but next time you make a payment you'll be paying $150.00 less in interest. The detriment of "simple interest" as it's called is pretty obvious - the longer between payments or the lower your payments, the less payment will go to your principal, if any. But the benefit of simple interest is that if you pay a large chunk toward your loans that's above the interest accrued, the next day interest is accruing on the lower principal balance. Also, no prepayment penalties - you only ever pay as much interest as actually accrues on your standing balance, so payoffs which include outstanding interest are good as of that day. A lot of people including me recommend making two payments a month instead of one - as in breaking your payments into two smaller pieces rather than one lump each month. You end up paying about 15 days of interest rather than 30, and a bit more hits your principal. This is also why making larger payments than what's due is always, always recommended. I actually pay smaller weekly amounts on my loans, so I pay 7 days worth of interest each payment. Sirotan, that's not true at all, they just set up the payment plan so that it's pretty much interest-only but you can make larger payments should you want to. You can absolutely dig yourself out of that hole, it's illegal for a servicer to stop you from making any amount of payment you want at any time. xorex, it isn't possible. Spousal consolidations were eliminated because situations like yours were very common, and there is literally no way to separate the balances once they're consolidated together. So yeah, taking out personal loans to pay off your shares is literally the only way to separate the totals. The consolidation is likely "split" because a portion is unsub and a portion is sub. This is to cover any times you're on a deferment and the sub portion shouldn't accrue interest.
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Jan 15, 2012 04:43
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Wiggy Marie posted:Sirotan, that's not true at all, they just set up the payment plan so that it's pretty much interest-only but you can make larger payments should you want to. You can absolutely dig yourself out of that hole, it's illegal for a servicer to stop you from making any amount of payment you want at any time. I can pay as much as I want, but since I'm on IBR I can't allocate any of my money to principal until all of my accumulated interest is paid off. Federal Student Loan Servicing website posted:Note: If you are on the Income-Based Repayment plan, the payment will be applied to interest first, then fees, and then principal. That would be fine I guess if my interest was minimal, but since it isn't its going to take me quite a while to just pay down all the uncapitalized interest before I can even start making payments on principal, I just find it a bit unfair. I don't have this problem with my non-IBR loans, after paying the minimum amount I can pay as much extra as I want, and allocate it all to principal if I so choose. vvvv Ah ok, then my mistake. I guess their wording of "If you are on IBR, ..." made me think it was some kind of special circumstances. Sirotan fucked around with this message at 16:17 on Jan 15, 2012 |
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Jan 15, 2012 05:07
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That is how all payment plans are treated. The difference is that since IBR lowers your monthly payment based on income and can even make a person have $0 due each month, you're not necessarily paying the interest that accrues. IBR is a payment plan that doesn't set itself to a minimum of interest due each month; it doesn't care what the interest accruing is, it only cares about your income and what it thinks your payment should be based on that income regardless of monthly interest. This is a situation where the simple interest is a killer, since if someone can't pay toward the accruing interest it'll just keep accruing more. The other loans are on regular payment plans which means you're satisfying your interest monthly, which means everything else hits principal. It is literally impossible for a servicer to satisfy principal before interest; the federal regs say this is what we have to do so the system is set up to not even allow it.
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Jan 15, 2012 05:39
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My payments coming up on monday and I just got fired and found out I'm not getting a severance package so I don't have the amount needed to cover the entirety of the payment. Is there anything I can do about this?
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Jan 15, 2012 05:48
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FrothyVictor posted:My payments coming up on monday and I just got fired and found out I'm not getting a severance package so I don't have the amount needed to cover the entirety of the payment. Is there anything I can do about this? Real simple (though not necessarily easy, depending on the company). Call your servicer ASAP and provide proof of termination (AKA Hardship) and you can get deferment/forbearance depending on how they handle it. Then get those unemployment papers, fill them out if you're eligible, and keep your loan
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Jan 15, 2012 17:30
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balancedbias posted:'sup, fellow medical field buddy? What specialty? That's not a general question, either. Your projected income will make a huge difference as to how you'll be able to attack your student loans. Back in the ole days ( Internal medicine and then (hopefully) cardiology. So I've got 6+ years on resident salary before I'll make any money. I'll take a closer look at the special consolidation thing, seems like it might be helpful. I'll definitely moonlight as soon as I can. Thanks for the advice. Wiggy Marie posted:penisclaw, the only benefit to NOT consolidating is if 1. you can afford the payments as-is and 2. you want to keep the lower rates you have on the 6.8% loans. When you consolidate, they take a weighted average of all of your loans, which means your 6.8's would rise but the 7.9 and 8.5's would fall. The GradPLUS loans are all in my name. My parents had to submit the FAFSA once so that my school could determine scholarship eligibility, but have since been hands off for my finances. If they look like the wrong loans, it's because I entered them wrong I guess. I'll talk to my financial aid office and call up my servicer and see what I can do, thanks.
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Jan 15, 2012 20:36
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penisclaw posted:I still don't get why you don't qualify for IBR.
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Jan 16, 2012 09:03
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I got terminated at my job and I have decided to go back to school hopefully fulltime. I hear you need to be a fulltime student to take out any loans, if needed. Say I take out a loan a year from graduation, and decide to take my last few classes part time so I can focus better. Would I have to start paying back my loans because I am not a fulltime student?v
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Jan 16, 2012 11:07
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Wiggy Marie posted:
No, they are Stafford loans. I am not in a medical program, and am taking Computer information Systems, and I am an undergraduate. All they told me was they give out new aid per 24 credits completed, but I also recieved aid at the start of a new year (last year). I was thinking of just taking the next two terms off so I will get new Pell grants by that time. Well, I'll call the school again, but they make it complicated. Thanks.
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Jan 16, 2012 14:45
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Foaming Chicken posted:I still don't get why you don't qualify for IBR. I probably do, with an annual gross salary of about 20% of my loan burden. I'm basing the lack of qualification on the info that came out of that calculator, which was probably put in incorrectly. I have no idea what the actual requirements are to qualify.
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Jan 16, 2012 18:08
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penisclaw posted:I probably do, with an annual gross salary of about 20% of my loan burden. I'm basing the lack of qualification on the info that came out of that calculator, which was probably put in incorrectly. I have no idea what the actual requirements are to qualify. You should really look into it. I'll be in a bigger hole than you when I graduate and I plan on going into primary care  . IBR helps me sleep at night. Their calculator says you would probably qualify (ran numbers as single w/ no dependents)
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Jan 17, 2012 03:54
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So if FAFSA + Pell + Stafford Loans can't cover the 24k+ I'd need to pay for tuition w/ room & board and everyone in my family is too poor to help me with something like a PLUS loan = no college for me?
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Jan 17, 2012 12:49
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TheJazzMess posted:So if FAFSA + Pell + Stafford Loans can't cover the 24k+ I'd need to pay for tuition w/ room & board and everyone in my family is too poor to help me with something like a PLUS loan = no college for me? No, you can always sell your soul to aunt sallie and pay for it with the rest of your life.
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Jan 17, 2012 12:59
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Well I think I would need good credit to even be eligible for a private loan. I owe 2k in hospital bills from an infection I had to get treated 2 years ago so I'm sure that has done wonders on my already non existent credit. If I opted out of room & board I would need to find a full time job near the campus which is 2 hours away or find a drat good part time job (ha). Even then I'm not confident at all that I would be able to handle a full load of Computer Science plus a job to keep myself out of the streets. Maybe the AS I'll get out of CC will be worth something in the job market 
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Jan 17, 2012 14:06
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I am grad student currently in deferment on my Stafford loans (both sub and unsub) however I make payments every semester on my unsubsidized loans. I went to make payments this semester and I can literally not find the link/web system I have used in the past to make online payments despite at least an hour of searching through links on the direct loan website. Did this poo poo go away? Am I going crazy? Does the government not want me to pay my loans anymore? Any help here would be appreciated.
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Jan 19, 2012 01:50
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