Hi all, I owe 75,000 with Sallie Mae. My mom is the cosigner and I wasn’t really educated on interest and stuff back then I just did whatever we would get approved with and now I’m facing the consequence.

I tried refinancing with Sofi and I think Earnest and got denied, and I only did half the loan. I was going to do 40K with them, then after a few eventually refinance the rest. I have good credit so I’m not sure why I got rejected.

My loan payment minimum is going to be around $1300. I don’t even know what to do. I CAN afford it technically, but will have no room to save

Hi good people of r/StudentLoans I need some help. I have about $133,000 in student loan debt currently being serviced by Firstmark. I graduated in 2023, so that number isn’t going down by much anytime soon. Don’t go to art school unless you can get a full ride.

Currently I’m not making nearly enough money to meet my monthly payments of ~$1,500. After speaking with a loan advisor, it seems my only options are killing myself with work to meet the monthly payments, or refinancing.

So my question is this: are there any decent refinancing companies that would accept me no matter how much my parents make? My older brother tried to get his loans refinanced a couple years ago and he was turned down because, on paper our parents make too much money, however they’re in a lot of debt as well and can’t afford to help much, if at all.

So, tldr; does anyone know of any loan refinancing companies that can help, even if my parents make a lot of money on paper? I just don’t want to waste time applying to a bunch of companies that aren’t gonna take me anyway.

Going on my current servicer's website, my interest rates are "0.00%" due to the current deferment. I'm trying to plan for when SAVE is gutted, but I don't remember what the interest rates were.

I checked previous years' interest rates for direct sub/unsub loans, but are those 100% accurate? They don't seem right for the years I checked versus what I vaguely remember the interest being.

With the last two cuts there are now refinancing offers that are less than a point above my current interest and lower my payments by 20%. Talking purely private loans. I’m at 4.45% right now from refinancing 2 years ago but would like to buy a house next year and lowering minimum monthly payments would help. Is/has anyone refinanced this year? Are we hopeful about one last rate cut this month? I’m thinking I wait until the 17th Fed meeting and then whether they cut it or not if I can find an offer below 5% and at least 100$ less minimum I take it? Any one have suggestions for where to look? Currently I’m with LendKey.

SoFi was the best rate when I looked last month with several interest discounts for autopay and for setting up savings and direct deposit with them.

I have $12,000 in student loans in both subsidized and unsubsidized loans and I do not have a credit card. I have been missing payments for the past year because I have been ignoring them and want to get back on track. Is it okay to pay the full amount with my debit card or will this hinder me in any way? should I start only paying off half? I have the funds in my savings account to pay It all at once but was wondering if there was a downside doing so?

Hello I just found out I might qualify for PSLF by the end of next year. I am trying to check but finding studentaid.gov hard to navigate. Is there any where you can go to talk a person or a counseling service that isn’t a scam? Any advice is welcome.

I just received a refund check from US Treasury for "Refund under borrower defense to repayment discharge" with an effective date of 11/15/24.

No clear or probably outdated info from Google searches about what this is for? Is there something new that caused this to happen?Definitely would help with student loans but I'm not sure if I would have to pay this back for any reason.

I’m wondering if anyone else if in a similar situation as me and what you are doing about it? My student loans were paid off in full during COVID. When the Biden administration started announcing forgiveness, it was stated that you could request a refund for any payments you made during the pandemic. I contacted my student loan provider and they added up all the payments I made and told me to keep an eye out in the mail for my refund check. I received a check from the United States treasury department for the full amount I’d paid ($18,000). I cashed this check and didn’t hear anything about it again, until January 2024 when I noticed there was a loan for $18,000 on my credit report for the department of education. I found out that my student loans had been reinstated again when the Supreme Court had struck down student loan forgiveness. Is anyone else going through this? Is there anything that can be done about this? Or am I out of luck and just need to pay these loans again?

Hi,

I am currently a first year student at UCF and have found myself short of money by the end of the fall semester.

I currently have Bright Futures as my tuition payment, and then the rest (cost of living) is through a subsidized, unsubsidized government loan + a private loan (college avenue). This in total has gotten me through the semester, but I am finding myself 2000 dollars short after rent and living expenses.

UCF is telling me they are not allowed to have college avenue dispense more money due to them already have dispensed what is their CoA. I've learned through this post why : https://www.reddit.com/r/StudentLoans/comments/103k9w3/please_help_decipher_my_school_blocking_my/?rdt=54302

Overall, the estimated cost of attendance for UCF is not what I am actually spending (and I am very frugal in that case as well) and they won't budge or tell College Avenue to dispense more. There's a bit more to the story such as me having to withdraw from a class and having to pay that money back but I won't get into that.

My question to you all is what are my options so that I don't face this in the spring semester? Is there an option for me to take out an additional private loan to support me? If so, what should I be looking for?

Let me know if you have any questions and thank you

So long story short, I went to the art institute for my bachelor's degree and graduated. During that time and about 4 years later I was paying a monthly payment of about $500, totaling to about $45k over the course of 7.5 years. Is there anyway to get that money back? Since the school closed and had a whole lawsuit about false claims and what not.

I already got my student loans discharged because of the whole mess with this school. But these payments were directly to the school. Is there anything I can do or is that money gone forever?

Any advice would be greatly appreciated.

Okay, dumb question. I am on SAVE. I am still paying toward loans every paycheck using the snowball method. Currently I am chipping away at one loan and have gotten the principle down significantly. Should I switch tactics and try to knock out the interest on the other loans or stick with paying off the principle?

I signed up for fresh start and got out of default. I got assigned Ed Financial as a servicer. I got a letter saying I owe $800/month which I can't afford.

I also used the pslf tool to verify my employers for the past 12yrs. When I did this, student aid website says I need to consolidate, which will make my payments go up, but seems like I need to do it, and then I apply for an IBR? How do they all connect later? I have 2 ffel and 10 direct loans, starting in 2007 going up to 2013.

Plus I have a BD case which should be stopping all payments anyway. But need to connect this too. I did a live chat with EDF today and they said they will request info about my BD case, but have no direction on paying the payment due at the end of the month.

So, where do I start, what goes next, etc? Am I on the right track? Will consolidation mess up my BD case? How long do I have to consolidate and get on an ibr? Looks like SAVE is back open, do I go for that?? I'm so lost.

I was a stupid kid and took out gov loans I couldn't afford, then took Nelnet's advice to defer and forbear for like 6yrs and then I defaulted. I'm just scared to make a mistake and feel like every mouse click is running my life.

Thanks in advance.

Was hoping to get thoughts on how to best manage this. I applied for the SAVE a few months before it was held up in the court cases. I'm currently on pslf. Although prior forbearances resulted in essentially free payments towards pslf, that does not seem to be the case this time .

I'm debating if I should wait it out and see if I can "but back" those payments next year and stick with SAVE (if still an option) or if I should be considering switching back to a standard IBR plan so that I can start up payments now.

This is all so unnecessarily complicated. Would appreciate any thoughts on how to best proceed.

Thanks!

I have loans from financial aid, along with loans from 2 other borrowers. I would like to consolidate them all into one, mainly so my cosigner can get their name off my loan.

Where do I start?

Im looking to get into IBR for PSLF. I am currently a first year resident and have a total of 6 loans. 4 of them are Direct Unsubsidized Loans and 2 are Direct Grad Plus. The Loans haven’t been consolidated as IBR doesn’t look like it requires that. However when I go through my application, only my direct grad plus loans are saying they are eligible. This doesn’t make sense to me because my direct unsubsidized should also be eligible and they were sent to me (the borrower).

Does anyone have an idea on why these loans are showing ineligibility?

Has anyone got their count recently completed and balance forgiven?

I know a lot of people who consolidated their FFEL loans into DL loans to get this forgiveness.

this is very specific, but i was wondering if there is any way to have a 3.5k loan forgiven. i definitely realize i’m in a really good place to only have that much, but the only reason i had to take it out in the first place was because a mistake my college made my first year. they put my social security number under someone else’s name, so my fasfa didn’t get approved in time to receive the need-based pelican promise scholarship. every other year i received it and my tuition (minus one summer class) was completely covered by financial aid with left overs for living/school supply expenses. this happened in 2020 (so the first full-covid semester) in louisiana.

I’m signed up for bank mobile vibe , and from what I’ve heard it’s immediate . The money just was “paid” today . About how long will it take ?

Anyone had to pay back NHSC? Considering doing NHSC but the payback clause is scaring me quite a bit.

So I’ve been stuck and was procrastinating to figure out this whole loan situation, but here I am scrambling together a plan before my payments due on 12:18 (oops). looking to see if it sounds like the most reasonable.

Graduated med school in May Resident making ~63K$ (4 years) All loans are federal and never consolidated Grace period ended I should: Apply for the IBR plan, but they dont process anything right now so I need to hound my loan serevicer (EDfinancial) to put me on forbearance.

The main thing is do I need to call for being placed in forbearance or do I skip that step?

This is for those of us who were on the SAVE plan and then had loans go into forbearance with 0% interest.

I just got off the phone with Mohela after waiting an hour to speak to someone so I know a lot of people had the same question as me. The representative I spoke to said they aren't sure why that letter was sent out to everyone. However, if your loans were on the SAVE plan and that's why they were in forbearance, the interest rate WILL REMAIN at 0%. I didn't ask about how long this will remain but as of now nothing is changing.

Anyone else having troubling contacting Mohela? I was told my loans wouldn’t be earning interest while in forbearance due to the SAVE issues, but just received an email about interest accrual. When I try to call, it says the wireless customer is not in service.

It's 4 AM and I need advise... My SAVE Plan was approved on 10/23/23 with a $0/mo payment. Since then, my Current Balance on Aidvantage portal and Monthly Statement show the same amount- which is my Unpaid Principal amount.

However, after the forbearance started in 08/2024, my Current Balance on Aidvantage portal shows I owe a $12.06 interest + Unpaid Principal amount. The Aidvantage representative told me the $12.06 interest is from BEFORE I started SAVE Plan. Looking at the statement from 11/2023 to 7/2024, I do see a $12.06 unpaid interest on each statement. I made a payment on 10/13/23 and another on 11/13/23. Aidvantage allocated all of my 11/13/23 payment to the interest of 1 one my 3 loans instead of all 3 loans.

My confusion is why wasn't this amount included in the current balance on Aidvantage portal and it took almost a year for it to shows up (only when forbearance started).

Does this sound right? Has this ever happen to anyone? I truly appreciate any input/advise you could give me. Thank you.

I'll try to make this as succinct as possible.

-I was (am) on the SAVE plan, have been gettting 0% interest for several months

-I got a notification from MOHELA in October to recertify or I will be taken off the SAVE plan.

-Being proactive, I recertified on the studentaid.gov website

-2 weeks after I recertified I get a notifcation from MOHELA basically saying "Don't worry about recertifying, we're automatically extending all SAVE plans until 12/2025."

-Because I recertified, now my loans have been placed in a "processing forebearance," gaining interest again, instead of the 0% they were at. For up to 60 days, apparently....

-Called MOHELA, they were useless. These people are pathetic.

Will the interest that's going to accrue on my loans over the next ~60 days be retroactively taken off once I am put back on the SAVE plan?

Thank you for any insights.

Just went in my account and it says cancel save payments start Feb 2025. Is this correct or will that date keep shifting with the forbearance?

Is anyone else still waiting for their Aidvantage refund from the Art Institute? I called yesterday because I confirmed my information on 10/25 and on 11/8 there was an adjusted amount. They told me that on 11/22 they were contacted to confirm my information but they would make a note that I would like an update.

Our neighborhood has been having issues with mail going to the wrong address so I hope it’s not lost somewhere.

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I worked in private lending for years and am dumbfounded by how difficult it is to get information about our loans, at least plus loans. I would have been sacked and any lender I worked for forced to close up shop if we ran a private business like loan servicers run their operations. I am embarrassed to say, I do not know how they arrived at this total of disbursements.

MPOWER Financing

US$50,400 Loan amount

14.24% (15.37%) Interest rate (APR)

138 months Repayment Term

US$627.98 Est. in school interest payment - monthly

US$829.32

hello all

i currently had loans from discover but since they sold their portion of the company over to firstmark services (also says olympic SLT on my account)

before discover went under earlier this year I asked how much would i be looking at paying if i went into full repayment at that time and they said it would be 1750 per month (with all loans under one account at their perspective fixed interest rates)

today i find out that im going into repayment even though i am still in school, and firstmark is telling me i have to pay 2400???

i dont understand how it somehow went up in only a few months with the same loan parameters (all fixed interest rates with a 15 year repayment period) when i asked, they said the "rates change every quarter", even though my rate is fixed??

can someone please explain whats happening??