So I have about ~30k of private loans left and then I can be debt free. I was wondering if it would be smart to just pay the minimum on my loans to save money faster and then pay off a large amount (say like 10k) and repeat. I have been paying about 850 a month for about a year now (above the minimum monthly payment) but I was wondering which way would be faster, paying a few hundrends of dollars over the monthly payment or paying the minimum to save more and pay off an aggresive lump sum? submitted by /u/Fantastic-Bite-1239 [visit reddit] [comments ..read more

Mohela just took over $1000 in one payment. I'm suppose to be on the SAVE plan. The woman on the phone told me my payment on that plan would be a little over 400 (I don't remember the exact amount). I can't afford over 1000 a month just in student loans when I have a wife, mortgage, and two kids. submitted by /u/regalturdbadger [visit reddit] [comments ..read more

Hello! Recently I applied for a pretty high loan with a loan from MEFA since they had a good interest rate option. However they put me as student as cosigner and my mom as the borrower for whatever reason. Is there anyone who who has experience know a way to get my name as borrower and my mom as cosigner? Basically switch these roles around? Also note I do have cosigner release so if I did 48 payments it would get my mom off problem is that I am going to grad school and can't start full time payments any time soon. Thank in advance! submitted by /u/TouchEmergency3645 [visit reddit] [comments ..read more

Hi All, I have been trying to communicate with my loan sevicer to clarify if I would benefit from consolidation in terms of receiving maximum benefits from the IDR one time adjustment, but the loan servicer isn't really answering my question. Moreover, seems, they even gave me incorrect information by saying if I consolidate, it would reset my forgiveness count to zero. Which doesn't appear to be the case if I consolidate by April 30. I have 6 direct loans: 3 subsidized and 3 unsubsidized. The age of the loans ranges from 12 to 15 years. Could someone please help me understand if there is a b ..read more

I am so lost on what to do with my loan situation. Please drop some guidance if you can. This stuff confuses the hell out of me with all the changes happening. I have: Balance- $294k Capitalized interest- $29,800 1 Stafford sub @ 5.75% fixed 1 Stafford unsub @ 6.55% fixed 9 Direct subs @ 3-5.75% fixed 17 Direct unsubs 3-6.6% fixed 7 Direct Grad at 6-7.35% fixed No private loans— all were paid off already. Currently on IBR My income varies but it’s around 180k +- and I’m a single filer, no kids. Cost of living where I am is very high and I’ve had a lot of health issues to deal with. Some loans ..read more

I graduated in 2018 with 180k of debt. That number is down to 80k. However now with two small children I cannot throw money at my debt like I did prior. I had been on I think what is called pay as you earn because I was hoping to do PSLF if I hadn’t payed down the debt in 10 years times. But— I’m now at a job that doesn’t qualify. My loans are all federal and interest varies from 3-7%. I just don’t understand fully understand the new save. My current monthly payments are 90$ which is laughable bc I would never pay them down at that rate. Edit to add: grad loans. submitted by /u/Electronic-Br ..read more

My partner rolled into the IDR PAYE plan advantage which gave us a letter saying due to his income or lack thereof as he works to build a freelance portfolio we are approved for 0% interest and $17.75 monthly payment. So we operated under this pretense. We checked his account and noticed his loans had 4.625% and have now grown several thousands of dollars. This makes no sense if we knew it was accruing interest and not 0% we would have tried to make the payments and not followed the guidelines to pay $17.75 to retain 0% interest. We called them noting our documentation for approved 0% interes ..read more

Hi, I'm going to study in the United States, September 2024 intake with an education loan (Secured), and I am already worried about how I going to pay it back. I'm a film graduate, going to study M.F.A Film production at Full Sail University, FL, USA. Can you guys give me some advice on how to repay the loan by doing a part-time job in countries like United States, Canada, and UK as an international student? Most of the people that I know said that they paid half of the loan by doing part-time jobs in the US, Canada, etc.. while studying. Is it actually possible? if so, how? how do they make ..read more

So I just recently have been manually paying my student loans off after graduating with my masters. I have been looking at ways to lower some of the interest rates of my $28,600 in student loans and see that I could reduce the interest rates possibly by opting into their autopay system. I see when looking at discounts and stuff on the website that it would be the ".25% IR KWIKPAY (ACH)" which would be implemented to my loans. I tried looking into it and do not see any relative reviews of this and if I should opt into it or not. Some that I did see were kind of negative, but from 10 years ago ..read more

Federal Loans: $4,613 @ 2.75% $3,321 @ 3.73% $4,342 @ 3.63% $7,718 @ 4.99% $7,617 @ 5.50% Private Loans: $70,000 @ 7.1% (consolidated) Income: $88,000 (new grad) I am picking a repayment plan and does it make sense to consolidate all my federal loans and choose the "lowest monthly payment" option? My goal is to attack my private loans and pay the lowest amount on my federal loans to redirect all my income towards my private loan. I would be only paying around $100 a month on my federal loans starting out. Is this the best idea for my situation? I just need some confirmation to make sure I mak ..read more