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Is it possible for your parents AGI to be to high to receive fed unsubsidized loans? My financial aid office processed my fafsa and I don't see an option to receive any loans like the last 4 years. They make 200k together, and I'm in my 5th and final year for 2010-11. They still claim me as a dependent because they make my car insurance payment, cell phone, along with health insurance, but I'm not living at home and don't get any help money wise with college so I really need those loans...
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Jun 1, 2010 23:06
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Goodpancakes posted:I don't believe that how you parents claim you on their tax form matters. Student loans have their own stupid system to determine if you are a dependent or not, regardless if you are actually dependent or not. There is a whole list of things that will let you use your tax information without your parents. Things that come to mind are if you are married, if you are 24 or older, if you are a veteran, or if you are in graduate school. There are other options but if you don't make the short list then I believe it is extremely difficult to have that status changed (In your case probably impossible if they still make payments on some of your bills). Yea but I'm not even being offered federal student loans this year and I have been for the past 4 years, which is making me wonder what the hell is up. The last 4 years have been all different AGI's lower than what my dad and step-mom made this pass year. They never hit the 200k mark until last year so I've always gotten something, which makes me wonder if now that finances have stabilized if they make too much for to qualify for any aid. Year 1 &2 my mother and father were together, but only hitting the 130k mark. Year 3 Parents split Year 4 dad loses job then remarries (Year I get subsidized loans) Year 5 dad has job back and now claiming step mothers income info, which puts the AGI at 200k UPS is paying for this coming semester, but I was considering quitting work for the spring to focus on making an amazing portfolio (I'm a graphic design major) so I can get a job right when I graduate. Class mates have had jobs thrown at them. Or even having the option to break my UPS contract and pick up more internship experience. cheese eats mouse fucked around with this message at 23:27 on Jun 1, 2010 |
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Jun 1, 2010 23:18
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Wiggy Marie posted:It is indeed because of your stepmother's income information that you wouldn't qualify for anything this year. They use the tax info to determine your estimated family contribution, and if your EFC is more than the total they estimate you need for the year, they will show you as 0 eligibility. If your parents don't/won't help you can contact the financial aid office in order to ask if there's an appeal you could file. Could I resubmit with my mother and stepfathers information?
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Jun 2, 2010 02:04
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I'm guessing there is no possibility to borrow internationally if you want to go to school overseas? The dollar to pounds conversion rate is horrendous right now and with the Fed printing more money I don't see it getting better. I am applying for international scholarships though, but those are few and far between it seems. cheese eats mouse fucked around with this message at 05:22 on Nov 10, 2010 |
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Nov 10, 2010 05:20
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Wiggy Marie posted:cheese eats mouse, if you go to a school that is internationally accredited by the Department of Education, you can actually take out the exact same federal loans that you would within the States. You would need to contact the school to ask if they participate in the Direct loan program through the US Dept. of Ed. Here's another good place to start: http://www2.ed.gov/about/offices/list/ous/international/usnei/international/edlite-index.html I've already contacted the school I'm interested in applying for, but they don't offer financial assistance for international students. It's where they make all their money any way. :| Considering that I already am 30k in debt from my undergrad I really don't want to take out any more. Although 18k for a Master's is a steal compared to the U.S.'s retarded tuition rates. I need to look outside the UK, but am stumped on what a good school vs a bad school is specifically for a MA in Advertising. It's looking like the best decision is to get some savings and pay down my current loans. cheese eats mouse fucked around with this message at 01:25 on Jan 28, 2011 |
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Jan 28, 2011 01:15
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Draconi Ann posted:Here's the deal: I need a new car really, really bad. Will getting an auto loan before I got to college impact the amount of money I'm eligible to receive from the government/FAFSA? Or would it be smarter to buy a car outright (and have no loans) before I apply? If you can swing having no payments on anything other than your student loans do it. It sucks already taking out student loans plus it's good financial practice.
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Oct 11, 2011 12:23
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Can I do this (and is it the best way?) I have two main government loans an unsubsidized $23,700 at a 6.8% interest rate and $6,649 subsidized at a 6.0% interest rate. Can I just consolidate the unsubsidized and leave the subsidized out of it? It would reduce my monthly payment by $100 and my interest rate to 6.625%
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Oct 25, 2011 00:12
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Trying to figure out what to do. Best course of action for repayment the fastest. If I have a bunch of subsidized loans I should ride that deferment right? I was doing the snowball technique of paying the smallest balance, but if the government is covering my rear end why not? The unsub ones are my largest mandatory monthly payment anyway. Unsubsidized -6.8% FedLoan Servicing-In deferment for 1 year. Will pay starting this year. $8,787.70 $8,218.96 Student Loan People-Paying for 1 year $3,721.77 $2,857.03 Subsidized-Deferred-6% $2,666.46 $2,256.22 $1,333.23 $563.01 I pay monthly in $500-700 chunks outside of my monthly budget, which should get $6,000 knocked out if I'm disciplined. I just started making enough to pay a huge amount each month from freelance income. Trying to figure out if I should attack the largest (FedLoan Servicing) or smaller balances (Student loan People). I've accrued about $600 in unpaid interest over the year on the $17,000 FedLoan. cheese eats mouse fucked around with this message at 15:55 on Jan 15, 2013 |
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Jan 15, 2013 15:44
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canyoneer posted:What interest rate are the Student Loan People loans at? All my unsubsidized are at 6.8% and subsidized 6%. I guess I'll keep paying at the minimum on the Student Loan People and pay $500 to higher interest/balance loan and keep the others deferred. So $500 ---> $8,787.70 Minimum payment of about $95 on $8,218.96-budgeted Minimum payment of $83 on the Student Loan People-budgeted All others deferred since there isn't any interest compounding. I have to get out of credit card debt first though. Faster I do that the more freedom I'll have. This plan is for mid-June/July when I'm suppose to have the credit card paid off. Seeing it go down every month is good enough for me. cheese eats mouse fucked around with this message at 19:39 on Jan 15, 2013 |
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Jan 15, 2013 19:37
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Wiggy Marie posted:cheese eats mouse, you sound pretty on top of things honestly. Pay as much as you can as often as you can - break your payments into multiple payments over the month, you actually save interest this way - and you'll see your balances fall faster. So $125 every week then? That's crazy how that works.
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Jan 22, 2013 22:43
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Anyone refinanced with DRB? I have about 30k in outstanding unsub at 6.8% and have only paid less than a year out of 10 years. I'm looking at a 5 year 3.5-5% rate and I can easily handle the extra $150 a month. They have claimed to be student loans and also eligible for the interest tax credit. https://student.drbank.com/ I make about 60k a year and have an excellent credit score so I'm thinking of biting on this in the new year. Everything looks really great after reading the fine print, but want to make sure before I say bye to the government. cheese eats mouse fucked around with this message at 20:59 on Oct 20, 2015 |
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Oct 20, 2015 20:40
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Wiggy Marie posted:I'm pretty sure this option only applies to private student loans, not federal ones like sub and unsub, but call them to double check. Otherwise I've never heard of them, and federal regs say you can't consolidate federal loans with anyone other than Direct anymore, so I'm a bit suspicious if they say they can consolidate federal loans. Then what are all these lenders promising federal student loan refinancing? SoFi, DRB, LendKey, Common Bond? I'm sick of being stuck in a lovely rate and desperate to not be paying on this bullshit for another 10 years. I'll be 38 by the time they're paid off. http://studentloanhero.com/featured/5-banks-to-refinance-your-student-loans/
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Oct 28, 2015 14:18
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No MD but I make way above market here and my credit score is flirting with 800. I was going to apply after I paid down some credit cards and closed some newer cards to make it the 10 year old credit history it should be.
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Oct 29, 2015 15:32
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It can also really affect you when you apply for other loans, say a small car loan. They can still use the 100k of debt as an excuse to deny you. I've been denied with only 30k and amazing credit score.
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Nov 22, 2015 19:28
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