|
Coffstah posted: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. Were you paying through Direct Loans? You might want to check here: https://www.myedaccount.com/
|
#
?
Jan 19, 2012 02:14
|
|
|
|
| # ? Apr 29, 2024 16:35 |
|
|
Sirotan posted:Were you paying through Direct Loans? You might want to check here: https://www.myedaccount.com/ Huh, did this recently change? It looks completely different from what I used before, also its weird that its not .gov site.
|
|
#
?
Jan 19, 2012 02:29
|
|
|
Coffstah posted:Huh, did this recently change? It looks completely different from what I used before, also its weird that its not .gov site. Yup, they took the old website down maybe 3 months ago and totally redesigned it/hosed up everything. I still can't get it to do my auto-payments correctly.
|
|
#
?
Jan 19, 2012 02:38
|
|
|
b0nes, you have to be at least half-tinme to receive loans and in order for your loan payments to be deferred. Part-time (less that 6 hours at most schools) won't automatically put your payments on hold while you're attending. There is, however, an in-school forbearance you could use. TheJazzMess, unfortunately it goes scholarships/grants - federal loans - private loans for an undergraduate student whose parents can't/won't take out PLUS loans. Grad students can at least get a GradPLUS loan. A lot of students just end up having to take out private loans because there's literally no other options.
|
|
#
?
Jan 19, 2012 04:37
|
|
|
I have a consolidated direct loan that I have been making regular payments on for about 9 years. I logged on to myedaccount.com earlier today to see if my tax forms were ready yet (of course they are not), and I noticed that my loans are in forbearance. I do some more poking around, and see that no automatic payment was made for December, and I have a document in my message center saying my requested forbearance was approved for 12/28/11 through 1/28/12 (days might be off one or two, but it was a one month period). What the gently caress is this about? I never requested a forbearance and am very confused by the whole thing.
|
|
#
?
Jan 19, 2012 05:45
|
|
|
Uh. If the FAFSA has me classified as a post-graduate student incorrectly... can I change that and file properly this year?
|
|
#
?
Jan 19, 2012 07:36
|
|
|
I'm 23, unemployed, and looking to enter a 10-week training program that will cost me a cool 10K. I am certain that completing the program will give me the training, credentials, and connections I need to land a job within a few months after graduation. However, while it's being conducted in partnership with a community college it isn't accredited, which as far as I know means I can't get any type of government student loan. Am I eligible for a private student loan? If so, where would you suggest I take one out? I've already talked to the credit union where I keep the few hundred dollars I own, and they've told me they can only give me a personal loan, for which the borrower has be employed and begin payments within 30 days, so that option is out of the question. I just need to find a place where I can take out a loan that will let me defer payments for several months.
|
|
#
?
Jan 19, 2012 23:34
|
|
|
stubblyhead posted:I have a consolidated direct loan that I have been making regular payments on for about 9 years. I logged on to myedaccount.com earlier today to see if my tax forms were ready yet (of course they are not), and I noticed that my loans are in forbearance. I do some more poking around, and see that no automatic payment was made for December, and I have a document in my message center saying my requested forbearance was approved for 12/28/11 through 1/28/12 (days might be off one or two, but it was a one month period). I called their customer service line today. I changed my payment plan in November, and for some reason they would not be able to apply that until my February payment date. Somehow this resulted in an automatic forbearance while they get their poo poo together.
|
|
#
?
Jan 19, 2012 23:59
|
|
|
Wiggy Marie posted:TheJazzMess, unfortunately it goes scholarships/grants - federal loans - private loans for an undergraduate student whose parents can't/won't take out PLUS loans. Grad students can at least get a GradPLUS loan. A lot of students just end up having to take out private loans because there's literally no other options. Thanks. I guess the best thing to do would be to try to pay all my debts off and try to raise my credit in the next year or two? I think my dad could cosign on a private loan with me since his credit ain't bad IIRC.
|
|
#
?
Jan 20, 2012 01:01
|
|
|
Viola the Mad posted:I'm 23, unemployed, and looking to enter a 10-week training program that will cost me a cool 10K. I am certain that completing the program will give me the training, credentials, and connections I need to land a job within a few months after graduation. However, while it's being conducted in partnership with a community college it isn't accredited, which as far as I know means I can't get any type of government student loan. What program? That sounds like it's in "too good to be true" territory. If it's an accredited school, you can take normal student loans from the government using FAFSA if you're happy waiting a bit.
|
|
#
?
Jan 20, 2012 01:35
|
|
|
I'm in grad school and the school pays my tuition + a stipend for TA'ing. Is there any way to get subsidized loans if I still make less than a certain amount? I really just want to borrow enough sub'd loans to pay off my undergraduate unsubbed loans.
|
|
#
?
Jan 20, 2012 04:12
|
|
|
Metajo Cum Dumpster posted:I'm in grad school and the school pays my tuition + a stipend for TA'ing. You can get subsidized loans while making at least $50k a year. Not sure what the limit is, it will be determined by tuition and other factors.
|
|
#
?
Jan 20, 2012 22:54
|
|
|
I'm loving the hell out of the buggy piece of poo poo student loan website. Got an email today saying:quote:You have a message from the Direct Loan Servicing Center. To view your correspondence, click here, log in to your account using your user name and password, and select the "My Secure Messages" tab. So I go to the secure messages tabs and get quote:This message is still being processed and is not ready to view. If you have provided the Direct Loan Servicing Center with a valid e-mail address, you will receive a courtesy e-mail notification when this message is available. Yep, and these are the chucklefucks that I owe 6 figures to.
|
|
#
?
Jan 22, 2012 03:29
|
|
|
I'm guessing it's the "Your 1098E form is available" message. Click on "Print My Tax Info" instead of the Halfway-In box.
|
|
#
?
Jan 22, 2012 04:18
|
|
|
Guy Axlerod posted:I'm guessing it's the "Your 1098E form is available" message. Click on "Print My Tax Info" instead of the Halfway-In box. Thank you! My inbox still displays one unclearable new message, but oh well.
|
|
#
?
Jan 22, 2012 06:44
|
|
|
keiran_helcyan posted:Thank you! My inbox still displays one unclearable new message, but oh well. It's a message letting you know they doubled the amount you owe and tripled your interest rate and that they changed their customer service number but don't know what it is yet, but don't worry, they'll send it to an email address that isn't yours when they sort it all out.
|
|
#
?
Jan 22, 2012 14:34
|
|
|
stubblyhead, at least they slapped something on there to keep you from going delinquent! We always had to ask to do that, it made the whole process a little unweildy. (It's weird they did that without your permission, the only other time I've heard of that being done is for a national emergency, such as Katrina). Make payments if you can in the meantime because any accrued interest will become part of your principal balance. Aerofallosov, you should be able to change the FAFSA when you refile to show the correct information, however what's really bizarre is that the school processed you with an incorrect status last year. You might need to call them to get that fixed because that affects the aid you're eligible for, and you don't want them to find that error years later and make you pay them back then if they gave you too much money. Alternately they might have just fixed it to the correct status in their system. Just double check that. Viola the Mad, you really should search for an accredited option first to be safe and cover your butt. If you're really set on this one though, yes you can get a private loan IF you have the credit for it. A lot of them require a credit score over 700 these days. Go to https://www.simpletuition.com to check on the loans that you might be able to take out. If you don't have the necessary credit, you must have a cosigner. TheJazzMess, pretty much. Not sure if you've got a new account to see this, but I didn't want to leave you out just in case! Metajo Cum Dumpster, as of July 1st of this year sub loans are being totally eliminated for graduate/professional students. Yeah. So unfortunately, no, if you file your FAFSA you are going to have to take out unsub loans. Ultimately they're not horrible, they will just have interest. And you can always return what you don't need. Pro-PRC Laowai, don't scare people.
|
|
#
?
Jan 22, 2012 15:04
|
|
|
Double reply to try and make sure people see this: Everyone reading this thread, I want to reemphasize something I said in my last post. As of July 1st, 2012, graduate and professional students will no longer be able to get subsidized loans. At all. Ever. This was part of the first debt deal that was signed last year, and no one knew about it until the deal was signed. Awesome!
|
|
#
?
Jan 22, 2012 15:05
|
|
|
Wiggy Marie posted:Double reply to try and make sure people see this:
|
|
#
?
Jan 22, 2012 17:40
|
|
|
Oh lordy.  Just as I app in for grad school. And thanks, I'm gonna triple check my status.
|
|
#
?
Jan 22, 2012 21:54
|
|
|
I encourage anyone who's not happy about it to contact your congressman and tell them. They are now discussing taking away the 6 month grace period as well.
|
|
#
?
Jan 23, 2012 02:23
|
|
|
Do you mind linking us to legislation and discussion?
|
|
#
?
Jan 23, 2012 03:25
|
|
|
I would gladly link you to everything, but unfortunately all of the discussions are on financial aid listservs that I am not a member of, and those discussions involve school financial aid officers discussing what Congress is discussing. I can certainly try to find out if there are any specifics of WHO is discussing it and when. What I do know is that it has been put on the table as an option, but not confirmed as something put into an actual bill yet. At this point if it did happen it would likely not be effective as of July 1st of this year, but they've been known to make last-minute changes before. The one that is already for certain passed and will go into effect is no sub loans for graduate students. That's already a done deal. Googling found this article, apologies that I don't have more for you guys: http://www.dailybarometer.com/congress-proposes-removal-of-student-loan-grace-period-1.2613206#.TxzJUYF32So
|
|
#
?
Jan 23, 2012 03:45
|
|
|
Regarding the no sub loans, you can still take out the same total loan amount of Staffords as before, it's just that roughly half of that won't be subsidized. If I remember right, it ends up being something like $5k extra assuming a 10 year repayment plan and 4 years of school.
|
|
#
?
Jan 23, 2012 05:02
|
|
|
Thanks for the advice, Wiggy Marie! By the way, can you tell us the name of this bullshit piece of legislation? bacquerd, I know it sounds too good to be true but I've checked it out and it's legit. The program is called Analyst Boot Camp and was created by the organization Advanced Technical Intelligence Center, a not-for-profit corporation intended to supply the US intelligence community with warm bodies.
|
|
#
?
Jan 23, 2012 17:07
|
|
|
mastershakeman posted:Regarding the no sub loans, you can still take out the same total loan amount of Staffords as before, it's just that roughly half of that won't be subsidized. If I remember right, it ends up being something like $5k extra assuming a 10 year repayment plan and 4 years of school. Good point. For grad students the sub totals were $8500. You should still be able to get the full amount of loans, just there won't be any sub loans. It sucks. Viola the Mad, sadly there's no actual legislation (yet) which means it's all in discussions and will likely be slipped into the language of some massive bill that no one reads. But we do know there ARE discussions. I suggest people start writing now, to make sure your congressman is aware that it's even happening (a lot of them never know this stuff).
|
|
#
?
Jan 24, 2012 01:45
|
|
|
The fantastic MyEdAccount website did a direct consolidation for me, combining loans A (MyEdAccount) and B (outside loan) to make loan C. Except now I have both loans A and C listed on my MyEdAccount site and they're both accruing interest! I hate this website so much. edit: The service department informs me that this is the fault of the the consolidation department so I should talk to them. You'll never guess what the consolidation department told me! After being call transferred twice and hung up on once I was informed that the system probably just needs time and should right itself in 2-3 weeks. Subvisual Haze fucked around with this message at 00:40 on Jan 25, 2012 |
|
#
?
Jan 25, 2012 00:26
|
|
|
I'm on IBR and have been making payments for a bit and was thinking about making additional payments on top of my minimum IBR payments. My consolidated loans are part subsidized and part unsubsidized. This is probably just a dream, but would it be possible for me to indicate that I want my additional payments to be only on the principal of the unsubsidized portion of the consolidated loan instead of being split up between the subsidized portion and the unsubsidized portion?
|
|
#
?
Jan 25, 2012 18:04
|
|
|
Thanks to major changes and school changes, I'm up to 140 credit hours, but only 50 applying towards the program I'm in. Am I screwed as far as federal loans go, and doomed to finish my degree having to beg my dad to co-sign private student loans? A metric ton of my transfer courses came over as either "General Credit" or "No credit in current program", and my only summer semester course for some reason doesn't show up on my transfer transcripts at all, despite having passed the class. So, right now I'm technically on major #4 and year #6, and the end far-off due to only going half-time right now.
|
|
#
?
Jan 25, 2012 20:41
|
|
|
I was thinking about applying for a consolidated loan for the 10 year service benefit (loans are forgiven after 10 years of working for a non-profit). Previously I rejected it because after adding my spouses income my monthly payments did not change significantly. However, I just realized that this would change if I file separately. 1. My first question is that if my wife and I file separately could I base my payments on having 3 in our household? (we have a daughter). 2. Also, would I lose all of my interest rate reductions currently offered by my current loan servicer? (This would only be an issue if I end up not qualifying for the 10 year service loan forgiveness). 3. Final question: If I filed taxes jointly last year but I'm filing separately this year how long would it take for this to effect my IBR monthly payment. Medikit fucked around with this message at 01:43 on Jan 26, 2012 |
|
#
?
Jan 26, 2012 01:37
|
|
|
mongeese posted:I'm on IBR and have been making payments for a bit and was thinking about making additional payments on top of my minimum IBR payments. My consolidated loans are part subsidized and part unsubsidized. This is probably just a dream, but would it be possible for me to indicate that I want my additional payments to be only on the principal of the unsubsidized portion of the consolidated loan instead of being split up between the subsidized portion and the unsubsidized portion? If this is on myedaccount.com call and ask for a manager. They can regroup your loans in like 2 minutes.
|
|
#
?
Jan 26, 2012 16:32
|
|
|
I am ready to consolidate my loans from my MBA. I qualify for the special loan consolidation program. I currently work at a not-for-profit Children's Hospital. I have been there for four years and *plan* on staying there indefinitely. I hope to utilize the 10 year loan forgiveness program for working at a tax-exempt organization. What payment plan would be best for me? I make a decent income, but do not want to pay off my loans in 10 years if the majority of them can be forgiven in 10 years. Would IBR be best for me?
|
|
#
?
Jan 27, 2012 15:50
|
|
|
I've got Stafford loans through the South Carolina Student Loan Corporation and a couple of weeks ago I got a letter saying the interest rates on some of my loans has been reduced, but not telling me any other information or what they'd been reduced to. I got my bill today and both my loans that were at 6.8% have been reduced to 4.8%. Obviously this is loving awesome but I'm curious as to why they would do this? Any thoughts?
|
|
#
?
Jan 28, 2012 00:33
|
|
|
quote:I consolidated back in '06 as soon as my 6mo grace period was up. So currently my loan is a subsidized consolidation loan. So no multiple loans to worry about paying off certain ones first. I made no payments during the grace period since I was jobless. I tried making a couple principal-only payments, but they seemed to ignore my request; maybe I'm doing it wrong, because I tried to do the same thing on a car loan in the past and it didn't work. I've had to do a short forbearanc in the past, since it didn't seem I was eligible for a deferment, but I had no money to pay so it had to be done. I try to always pay more using whatever's left in my account after other bills. Sometimes it's only a couple bucks, and other times it's more like $20. Though some months I put the extra toward the credit card bill. I ended up doing a forebearance until april, planning to pay accumulated interest before it capitalizes. However we are still jobless, living with my family, on unemployment (my husband), and he decided to do an associates program in the meantime to help with future jobs. At the rate things are going, when my forbearance drops we will still be struggling to pay my loan. We weren't even eligible for either of the state health insurance options (medicaid/etc) because unemployment pays him enough that he's $80 above the 2-person cutoff, so we get to pay medical expenses out of pocket. I couldn't find the IBR alternative form on my lender's site, but I found it elsewhere. I'm going to fill it out and send it in because I don't really see any other option. I was hoping the forbearance would be enough and we'd have jobs by now. I'm beginning to think I should have went with my original plan years ago to just continue toward a masters, become a teacher, and hope for loan forgiveness or something down the road. Or just avoided college altogether (or stuck with a community college where everyone & their mother around here was seeming to get a free ride).
|
|
#
?
Jan 28, 2012 12:11
|
|
|
mongeese, technically it's actually illegal for companies to separate payments like that (no really, it's in the regulations and everything). You will need to call and ask if you can apply a larger payment to just the unsub portion. taiyoko, that will probably be a better discussion to have with your financial aid office, however what I can tell you is that because of the number of hours you have you may start showing up in their system as "exceeded maximum time" for satisfactory academic progress, which in turn can make you have to file an appeal every semester to continue receiving aid. However, that will depend on how the hours show in their system and the amount of aid you already have. No matter what, there is still a finite amount of student loans available. As for the class that doesn't show up, you definitely need to contact the old school about that. That's money you're losing out on if they don't fix it. Medikit, your answers are yes, yes and you would be able to have your IBR adjusted as soon as you sent in the new tax return. When you consolidate, you do lose all old incentives because it's treated as a brand new loan, so the only incentives are whatever Direct offers. When you file separately, IBR will only take your income into account based on the Married Filing Separately tax return. From what I understand you can still certify the correct number in household, but be sure to read the application/ask the servicer that question directly because there's a slight possibility that they would want the exemptions on your return to match your claimed household. (Probably not since the federal rule for household size is anyone you provide over 50% support to, but it's worth double checking!) MechanicalUnderwear, most likely IBR will work for you depending on your salary. If it doesn't you might have to stay on a standard repayment schedule until the 10 year forgiveness program kicks in. I do want to caution: don't bank on forgiveness in 10 years. Yes that is the program right now, but Congress is very steadily chipping away at student loan benefits. I highly suggest not making plans around forgiveness. Consider this a potential bonus rather than the light at the end of the tunnel. Josh Wow, it sounds like some sort of incentive has kicked in. You could try calling and confirm with them what program has hit. IdeoPhantus, don't lose heart! There are still deferments and forbearances on your account, and you are in a situation where it makes sense to use them. Call, explain your situation and see what the servicer can do for you. In fact, if you're unemployed and getting unemployment, there's a deferment called the Unemployment Deferment you might be able to get. If you check box A on that form, most servicers don't verify that you're registered with an unemployment agency for the first 6 months. If you're getting unemployment payments, you can just provide documentation and continuously use that deferment for up to 3 years. It'll at least save you on subsidized interest. Industry update: I will repost this as its own post too because this is extremely important. One of my coworkers kindly pointed out to me a portion of the new regs that is getting less play than the Grad sub loans removal. As of July 1st, 2012, subsidized loan interest will no longer be deferred during your 6 month grace period. I am going to ask for further information on this as right now I don't know if this applies across the board to all loans and students or just loans originated after July 1st of this year. I will keep you all informed of what I find out. And may I just say, this totally sucks balls.
|
|
#
?
Jan 29, 2012 14:34
|
|
|
Industry update #2 Again, double posting to make sure people don't miss this. This is SUPER important. If anyone can think of a way to get this message out to the more general SA forums, I would sure appreciate it because grad students need to be aware of the sub loan change coming up. Anyway, new update: As of July 1st, 2012, subsidized loan interest will no longer be deferred during your 6 month grace period. I am going to ask for further information on this as right now I don't know if this applies across the board to all loans and students or just loans originated after July 1st of this year. I will keep you all informed of what I find out. And may I just say, this totally sucks balls.
|
|
#
?
Jan 29, 2012 14:36
|
|
|
As much as Obama's SOTU address talked about getting people back in school to finish their degrees, and training people to work new jobs, they really are screwing the pooch with all these new "adjustments" :/
|
|
#
?
Jan 30, 2012 03:13
|
|
|
What. Holy crap. This is going to make actually paying the dang things off so much harder. Of all the 'reforms' to the budget they could think of ... these are it? Screw the students?
|
|
#
?
Jan 30, 2012 05:33
|
|
|
Ignoring my personal feelings on the topic, here's the supposed logic: They will cut things like deferred interest and funnel the money they save into the Pell Grant program to improve access to school for students. Here's the issue with this: I am getting my second Bachelor's on my own. I never used student loans on the first one, but because this is my second and not first degree I am automatically ineligible for Pell. So it doesn't benefit me at all, and it also won't benefit the thousands of people going back for a second degree. Also, since when has the government actually used things like excess money for schools? NEVER! Ehem. Anyway, another reason why this makes no sense: this will increase the amount that students ultimately pay back, because the more interest that capitalizes at the end of grace/grad school, the more you pay. Off my soapbox now.
|
|
#
?
Jan 30, 2012 14:03
|
|
|
|
| # ? Apr 29, 2024 16:35 |
|
|
Wiggy Marie posted:
Thanks for the information! Would my husband and I filing our taxes as separate married impact the amount I would pay on IBR? Also, do you have any documentation for the subsidized loans for graduate students going away? I have a lot of friends in/starting grad school and would like to share this with them.
|
|
#
?
Jan 30, 2012 15:16
|
|