|
How can I work the EFC? I made just a little bit over $14,000 this year. I have about $3,000 in my checking account because I've done everything I could to try and save money to be able to pay for half a semester of college without loans. Last year I only made 6K so I got everything but now it seems like I'm going to get drat near nothing. The EFC I keep coming up with is around $3,000. How the gently caress am I expected to pay $3,000 a year when I only make $14,000? I was going to have to pay $4,000 from loans anyways because I made too much to get anything from Ohio anymore but now I'm going to have to pay for all but $1,000 covered by the PELL? I'm 24, filed for independent last year and will this year. Am I screwed? Should I just work a lot less and only make like $7,000 a year so I can actually get aid? This is bullshit. I can barely make it now. I live at home with my mom still. She's only making enough to claim a little less than $10,000 this year. Should I say she's a dependent to get the auto zero? RusteJuxx fucked around with this message at 22:49 on Jan 6, 2007 |
# ? Jan 6, 2007 22:46 |
|
|
# ? May 11, 2024 16:15 |
|
The other day I applied for some financial aid and went through all of the steps needed. They are offering me 8500 for a semester (going to grad school). My tuition is going to be 2500 for a semester and I believe they gave me 4400 dollars or so for room and board. I've added up how much my apartment expenses will be and it's far less than 4400 (more like 1500 or so for 5 months). Can I use this extra money to maybe buy a new computer and to pay off bills and credit cards, etc? I'm really good with money management, so I won't just blow it all in a week, but I was just curious if they had any way to monitor or limit exactly where your money goes.
|
# ? Jan 7, 2007 01:09 |
|
Teknicolor, first of all, congrats on such small debt in your name so far. That's only good for your health. If you hadn't already received the total stafford loans you're eligible for, with the PLUS denial you may be able to take out more. Have you contacted the finaid office about that yet? See what they say, or let me know if you've already hit your aggregate limit, and we shall see. Rustejuxx, have you tried to appeal at the financial aid office yet? Beyond that, if you're not a grad student and your parents won't take out a PLUS, you're stuck with alternative loans. In terms of your FAFSA questions, direct those to the Dept. of Ed. We don't handle the FAFSA in any way, shape, or form, and I refuse to give you guesses rather than answers. Grimfailz, once the money is in your hands, you can do whatever you want with it. Just remember that you have to pay it back, regardless of what you use it for. But yes, if you have enough for a new computer, then by all means get it! Pay off those debts!
|
# ? Jan 7, 2007 21:59 |
|
Wiggy Marie posted:Teknicolor, first of all, congrats on such small debt in your name so far. That's only good for your health. I'm at my agg limit for sub. Stafford loans, but not for unsub, since I've never had need for them. I'll talk to my finaid office tomorrow to inquire. I'm sure the 5000$ loan they were talking about is an unsub. Stafford.
|
# ? Jan 7, 2007 23:58 |
|
So how'd it go? Curious eyes are dying to know!
|
# ? Jan 9, 2007 04:42 |
|
Wiggy Marie posted:So how'd it go? Curious eyes are dying to know! It was an unsub Stafford, I'll get it automatically as soon as Wells Fargo gives the information to my finaid office, so I'll be getting an extra 2500 this semester. It isn't anywhere near what I need, so I guess I'll keep my full-time job too. Every little bit helps though.
|
# ? Jan 9, 2007 05:32 |
|
What would you suggest for an incoming undergrad freshman whose EFC falls $20,000+ below what is realistically affordable? It's okay if you don't know...
|
# ? Jan 10, 2007 05:58 |
|
a_passerby posted:What would you suggest for an incoming undergrad freshman whose EFC falls $20,000+ below what is realistically affordable? At the risk of sounding like a retard, I can honestly say I have no idea how to interpret your question. Your EFC falls 20000+ below what is affordable? Meaning your parents can't contribute approximated 20000+? Or the EFC which was reflected on the Financial Aid Awards package is 20000+ higher than what they will contribute? Help a tired confused female here.
|
# ? Jan 10, 2007 06:29 |
|
So say my parents have been paying for college all along and now at the start of my second semester they won't pay for college anymore. How long does the process work to get a Stafford loan (assume I have 4k and need an extra 2.5k for school)? edit: gently caress. looks like i need to go through FAFSA or look into private loans which sucks. i hope i dont get kicked out of school while I wait plissken fucked around with this message at 07:12 on Jan 10, 2007 |
# ? Jan 10, 2007 06:48 |
|
Are there any student loan consolidation companies that offer incentives to use their services? I hit $15k in student loans sometime last year, and ever since, they've been calling me, sending me "THIS IS YOUR LAST OPPORTUNITY TO CONSOLIDATE YOUR LOANS, THIS IS THE FINAL NOTICE YOU'LL RECEIVE FROM US" letters (which I wish they would stop sending me that crap). I know there's quite a bit of profit in these loans, especially now that they've been allowed to gouge us for another couple of interest points (I think it would be cheaper to carry on my credit cards right now, but I'd have to make payments immediately) and I'm sure I'd be a fairly juicy account for somebody who would want me as a customer. How can I take advantage of the situation? Does anybody offer any kind of bribe program to get students to consolidate with them, whether it be super low interest for an introductory period or a free iPod or computer or something?
|
# ? Jan 10, 2007 06:57 |
|
DOUCHEBAG SMILES posted:...they've been calling me, sending me "THIS IS YOUR LAST OPPORTUNITY TO CONSOLIDATE YOUR LOANS, THIS IS THE FINAL NOTICE YOU'LL RECEIVE FROM US" letters (which I wish they would stop sending me that crap).
|
# ? Jan 10, 2007 07:14 |
|
To put it simply, I work to pay for school and support myself. My parents send me $200 a month basically so they can say they are giving me something. Sometimes I dont even spend it, I just deposit it into my savings. Few questions now. Last year ('06) my dad said he would not claim me on his taxes. What exactly does this mean for me on my taxes being that I pay for everything, especially school? How do hell do I show I paid for my school and stuff and not them? The $3500 I got from Stafford is no where near enough for the academic year. I always have to come up with half the tuition + books. To put it bluntly, I want more money. I see it as more money = less work = more studying = better grades = higher GPA = scholarships/grants = no loans. How can I achieve this so when Fall 07 starts, I will be okay? I know people out there get crap tons of money, free, and others get crap tons and have to pay it back. It just seems like I'm hardly getting any. Carnage fucked around with this message at 08:38 on Jan 10, 2007 |
# ? Jan 10, 2007 08:30 |
|
My wife is 21, but obviously we're married. Does she still have to list her mother's income on the FAFSA?
|
# ? Jan 10, 2007 09:52 |
|
Teknicolor, at least you got *something* Good to know I'm not giving people bad information, too. I hope that works out for ya. Plissken, processing depends on how you file and the school. If you file a paper app, it can take 4-6; if you file it online (http://www.fafsa.ed.gov), it can take 2-4. You'll need to see if the finaid office can grant you an extension, or if they'd be able to help you out at all. If you give me the school, I'd be happy to seek out the private loans available for ya. Douchebag Smiles, go here: https://www.nthea.com/easyloansavings/Default.aspx Type in your information and see what comes up. Right now they're the best consolidation company I'm aware of. Other companies are about to get really competitive, but for my money I wouldn't go to anyone but these people (they're also really friendly on the phone, the best people I've ever conferenced with). I'm considering adding this info to the OP so that anyone looking to consolidate will already know what I recommend. I'm hesitant to do so, though. What do you guys think? 10-8, the only thing I can recommend is to contact the NSLDS and see if you can have your information removed from their site. All lenders have access to this system, which is where they're finding your information at. (800) 999-8219 Carnage, unless you qualify as an independant under one of the reasons I listed in the OP, you still have to put your parent's info on your FAFSA (it sucks and I hate it, trust me). Uncle Sam doesn't care if your parents aren't helping support you. Then you can appeal the decision to high heaven, depending on what they offer you. And then, of course, it's on to fastweb.com, and then private loans. RSPsych0, your wife can file as an independant because she is married. That qualifies her as an independant.
|
# ? Jan 10, 2007 17:21 |
|
..
Rosehip fucked around with this message at 10:27 on Jul 2, 2020 |
# ? Jan 10, 2007 18:23 |
|
Wiggy Marie posted:
Thanks. I go to James Madison University.
|
# ? Jan 10, 2007 21:33 |
|
Wiggy Marie posted:10-8, the only thing I can recommend is to contact the NSLDS and see if you can have your information removed from their site. All lenders have access to this system, which is where they're finding your information at. (800) 999-8219
|
# ? Jan 10, 2007 23:11 |
|
I advise all of you to not gently caress yourself like I did, and be on time with your payments. I had a lot of bad poo poo going on for awhile and wasn't making my payments. Next thing you know, I'm defaulted on my loans. For 2 years at ITT, I had to take out ~$33,000. This has become a hell of a lot more. 2 different companies got ahold of my loans. One company for my federal loans, the other for my private loans. They are both out for blood, and I'm currently trying to stave off the second company while I deal with the first one. The first one contacted by companies HR department and left a message for me. I called them back and they put me on a rehab program, where if I satisfy minimum payment requirements, my account will come out of default status and be transferred back to Sallie Mae. The minimum payment requirements they gave me where: $3,000 in 2 and a half months (one payment of 600 bucks, 2 payments of 1200), followed by 6 months at $385 a month. There seems to be no way around this, but once my loans go back to Sallie Mae, I'll be consolidating them. No clue what the second company wants out of me yet, I'm calling them tonight to get my assraping. I went to annualcreditreports.com and got my report from Experian and looked over it, it's not pretty. I ended up disputing 4 things (one of them, totalling $300, seems to belong to my father; one of them is $800 to the AAFES credit card which I was signed off as not owing any money to [part of standard outprocessing in the military]; the other two being things that I have no knowledge of), but including those 4, I have 12 negative records on my report. One is a $400 credit card that I thought I paid off, but I still owe $100 on. The other 7 are all from Sallie Mae, and are not a pretty sight. What I'm wondering is, when I finish this rehabilitation program with the collections agency, will those loans that are listed as negatives on my report go away? And do past negatives reflect badly on your credit report, if you pay them off to the satisfaction of the company that extended the credit?
|
# ? Jan 10, 2007 23:44 |
|
I've never taken any loan out before, in 2005 I had to drop out of my classes with an unpaid bill that still is being taken care of. I want to go back to school asap at a DIFFERENT school, will I be able to get a loan when I owe this other school money?
|
# ? Jan 11, 2007 03:42 |
|
I recently switched to part-time status. I currently have 10 units but will soon be dropping to either 8 or 7. Will the loan refund from the drop from full-time to part-time and again from 10->8 units just go right back to me, or are they going to somehow send it back to the loan company? I'm already at my max loan amount (tuition + living expenses) so normally I wouldn't be able to get this much cash. I think it's going to work, but I want to make sure. I'm kind of counting on having some extra (both to replace my computers that died over break and for other costs around summertime). This should mean about $5k extra for me. edit: This maybe isn't a great question for you and I should just contact my FinAid office. But they're not open right now and I just thought to wonder about this.
|
# ? Jan 11, 2007 04:13 |
|
Wiggy Marie posted:At the risk of sounding like a retard, I can honestly say I have no idea how to interpret your question. Your EFC falls 20000+ below what is affordable? Meaning your parents can't contribute approximated 20000+? Or the EFC which was reflected on the Financial Aid Awards package is 20000+ higher than what they will contribute? Help a tired confused female here. Sorry, I was reeling from sticker shock I was accepted to my first choice college ED, sent in the FAFSA, and received back an EFC of approximately $40k. My parents can only put up $20k at the absolute maximum, largely because my brother is attending a private high school that takes up the remaining $20k of the EFC. Obviously there wasn't any section on the FAFSA that takes that into account, so we told the college about it but they're unable to produce any more need-based aid. Therefore, I'm short $20k on tuition for the school I really want to go to. My question is, what are the loan options for a student who lacks that kind of money? Is it even worth pursuing loans for that large an amount? Plan B right now is to withdraw and go to community college for a year, but it's a very distant option right now.
|
# ? Jan 11, 2007 09:17 |
|
How long does it typically take to hear something about the status of the loan after mailing in the MPN?
|
# ? Jan 11, 2007 09:28 |
|
Rosehip, if you did not reach your aggregate limit pursuing the first degree, you can still take out loans for the 2nd degree. Try filing the FAFSA and see how far it can take you. 10-8, sorry to hear that. I doubt that a lawsuit would do much good, though. Companies have a separate legal division for a reason. A better idea might be to call the Dept of Ed and bitch them out, and have all your friends do that, too. A large enough voice might make them care. Maybe. Avidal, you ain't kiddin'. I cannot stress this enough. Nothing, absolutely nothing, can ruin you like having delinquent student loans on your credit. That's right, just delinquent loans. You can imagine what having a defaulted loan does. I hope you work it all out, Avi. Rushi, if the unpaid money hasn't reported to your credit as severely delinquent or gone into collections, you should be fine. Kase Im Licht, by federal policy if a student no longer qualifies for federal aid, the aid must be refunded to the lender. When you drop part-time, you won't be getting those funds unless the school makes a mistake. Which does happen. And then the school realizes what's happened, and holds you accountable for the funds they sent you by mistake in the first place. So suddenly you have to pay the school a lot of money. Yes, they can and will do that, and no, it's not illegal (don't get me started about schools). You'll need to rework your budget without the aid itself included. A_passerby, would your parents consider a PLUS loan under any circumstances? I know nobody likes to take loans out in their name, but if you end up using an alt loan, they'd probably still be attached to it, and a federal loan is better than an alt loan by about a million strides. Also, what school? I know Drexel's finaid awards often look like TOTAL: RAPE!, but they (generally) offer scholarships and such out the wazoo to try and make up for it. Give me the school, and I'll see what I can find for ya. If you're paying that much for education, I'm gonna assume it's freakin' worth it. Barnes, once the lender has the MPN, if the school's already sent the school certification, they can continue with the loan. If you sent the MPN last week or so, it's not a bad idea to call the lender, make sure they received it, and ask them the status of your loans. Mail is unreliable this time of year; tons of people never even got stuff that we've sent.
|
# ? Jan 11, 2007 17:29 |
|
Wiggy Marie posted:A_passerby, would your parents consider a PLUS loan under any circumstances? I know nobody likes to take loans out in their name, but if you end up using an alt loan, they'd probably still be attached to it, and a federal loan is better than an alt loan by about a million strides. It's Carnegie Mellon University; their cost estimate is around $50k, and they've kicked in $10k worth of grants to cover my EFC-based need. I'm talking to both the university and my brother's private school to see what options are available, but it looks like neither of them are being very flexible right now.
|
# ? Jan 11, 2007 21:10 |
|
Hi Wiggy Marie, Have you heard of, and if so, what do you think of "Educational Loan Company" - http://www.educationalloancompany.com/consolidation.htm I just graduated with a total of ~$30k in 8 different stafford loans at 6.54%. I would like to consolidate them and this company seems to offer up to 1.75% incentive reduction. Think it would be good to go with them? Or any better recommendations?
|
# ? Jan 11, 2007 23:59 |
|
I am in a very similar situation to those of epicproportion and carnage, in that I have always worked fulltime to put myself through school until this past semester. This semester I finally applied for financial aid and received a federal pell grant because I was able to claim being independent. Now fortunately, the financial aid takes care of my tuition but unfortunately I am kind of hurting in the area of miscellaneous expenses. For once I would love to just be able to focus all of my attention on my studies and not have them interfered with because of a fulltime job. What i'm curious about is whether or not I can find some extra money to help pay for things other than just tuition and books. Just to help further complicate things I don't have the greatest of credit at the moment and having someone cosign for a loan is not gonna happen.
|
# ? Jan 12, 2007 02:20 |
|
Jjw, I'm not gonna lie, 1.75% is a good reduction to have. I cannot stress enough how much interest rate reductions end up saving you. It just about breaks even with my preferred company's incentives (with the interest rate reduction doing better) until you hit the final 599.00. To help ya out, I'll break it down: Before you enter these calculations, please keep in mind that my figures do not in any way include the higher payment to principal that will be happening due to interest rate reductions with either company. I'd go blind trying to be exact about this!!! Let's say your interest rate will fix at 6.8% (arbitrary number) with 30000.00. Your payments are 120.00 a month, with exactly half going to principal and half to interest. With the Educational Loan Company, this means that you start out accruing at 5.59 dollars a day (2040/year). Assuming you then get the .5% reduction for automatic debit, you will be accruing 5.17 dollars a day (1890/year). After 2 years of consecutive, on-time payments (NEVER believe a grace period for payments!!!), you get the additional 1.25% reduction. You've now paid your loan down to roughly 28560. This means that your interest rate is 5.05 (which hey, is nice), and that you're now paying 3.95/day (1442/year). This continues until the loan is paid in full. Here's what your next few years will look like: Year 3: Principal 27840, interest 3.85/day (1405/year). Year 4: Principal 26760, interest 3.70/day (1351/year). Year 5: Principal 26020, interest 3.60/day (1315/year). Now NTHEA (my preferred company, I've linked to them in this thread): So you start with 30000, at 6.8%, same figures apply. Then you get autodebit, which puts you down to 6.55. This equals 5.38/day (1965/year). After 1 year, 595.00 is knocked off of your principal because you're a good boy and get every payment in by the due date (autodebit guarantees this for incentives, kids. Make sure you always have the money in your account!!!!!). This means that your principal is now roughly 28685. Your interest now accrues at 5.14/day (1878/year). After another year of on-time payments, your principal is knocked down another 595.00. Now you have 27370. Your interest is now accruing at 4.91/day (1792/year). After another year of on-time payments, you get 595.00 onto your principal and a 1% interest rate reduction. Your principal is now roughly 27370, and your interest rate is 5.55. Your interest is now accruing at 4.16/day (1519/year). As you continue to pay down your principal, your interest will continue to lower, also. So let's take you through the next few years, so you can see it even out: 4th year: 26650, interest accruing at 4.05/day (1479/year). 5th year: 25930, interest accruing at 3.94/day (1439/year). 6th year: 25210, interest accruing at 3.83/day (1399/year). Once you pay the loan below 599.99, NTHEA forgives the final balance. Consider that just a neat little gift. I'd say that this is a tough, tough call. The interest rate incentive that they offer will save you more money as the years pass, but NTHEA forgives the final 599.99. Someone far better at math can feel free to figure out if this actually does even out in the end, or if the incentive wins hands-down. In your position, I'd be crunching numbers like crazy. The only other thing I can say is that I love NTHEA because I know what kind of company they are, and I know the people are sweet to deal with. I'm not familiar with ELC at all, and can't say that they're rude or nice, because I've never had to deal with them. I suggest you call them to hear what kind of tone they have with you. You'll end up calling in for something, sooner or later. I would also wait until closer to July 1st, because consolidation companies are going to start getting crazy competitive, and you never know what sort of stellar deals will pop up around that time. Remember kids, interest rate reductions before anything else!!! AngryDouchebag, your situation looks like a pretty big roadblock. If you've already tried appealing, PLUS loans are out of the question, and your credit isn't good enough for an alt loan, I can honestly say I can't think of a thing to help ya out. Scholarships/grants or nothin', kiddo. I'm sorry
|
# ? Jan 12, 2007 05:29 |
|
Wiggy Marie posted:The interest rate is federally regulated, so what you can do is consolidate with someone who offers incentives on top of the rate. You know who I’m gonna recommend, so don’t make me repeat myself . I have a lot of questions about loan consolidation. As I understand it, you can only consolidate once with a bank, but you can later re-consolidate with a different bank, correct? Are you allowed to do that as many times as you want, and if so, does that mean that every July 1 that the interest rate goes down, it benefits you to change banks? If you're consolidating with a new bank, do they honor incentives and perks you've earned from your first bank for on-time payments and such, or is only the federal interest rate considered? As a corollary, does it make sense to change banks at different periods over the life of your loan if different banks have better incentives during those periods - for example, changing to Citibank for their 'graduation present' interest reduction, then switching to NTHEA for their principle reduction? Finally, do you have any information on banks that do consolidations of private loans?
|
# ? Jan 12, 2007 14:39 |
|
Ok, so I have decided to go back to college. Like before I will have no help from my parents, except now I do not have to file their information with my FAFSA as well. What should I do? Should I fill out the FAFSA the same day that I get my tax return information? Also I am wanting to be able to just focus on school, and want to do my best to not have a job. I figure if I really need one, then I can use my knowledge as a bartender to get it. Is it a bad idea to just take out a full loan to pay for college, as well as what ever other expenses come your way?
|
# ? Jan 14, 2007 10:04 |
|
Cruel World, no! No no no! Bad Cruel World, bad! You can only consolidate once, and ONLY reconsolidate if you have additional debt to add to the original consolidation. So unless you're planning on taking out a new loan every year, there's no way for you to change the company you've consolidated with. This is why you have to be *very* careful about who you go with. VERY careful. Peniscure, yes. File the FAFSA, see what happens. You can use your portion to pay for personal expenses, but a lot of times the FAFSA loans aren't enough to cover all of those expenses. Hence, alternative loans.
|
# ? Jan 14, 2007 20:06 |
|
I'm a 22 year old grad student. My parents made too much money for me to get anything from the feds as an undergrad. I'm looking to be filling out the FAFSA and trying to get some (preferably subsidized) loans for this coming fall. If my parents claim me as a dependent, am I still eligible to leave their income off of my FAFSA application? If not, I'll have to talk to them about not claiming me so I can get that aid (and be able to claim my education expenses for '06).
|
# ? Jan 14, 2007 23:17 |
|
It doesn't matter if they claim you or not. If you don't qualify as an independant, you must file as a dependant, and then appeal the decision if you receive too litte. You are able to file as an independant because you're a grad student. Whoopee! This means that you may leave your parents off of your FAFSA. If you have really detailed questions about the form itself, you'll have to direct them to the Dept of Ed, 'cause we (the lender) don't touch that form with a 10-foot pole. It's all processed through the school and the Dept.
|
# ? Jan 15, 2007 02:03 |
|
I'm in a similar situation, except I'm an undergraduate. My parents make too much money for me to qualify for all kinds of financial aid even though they don't give me any help whatsoever on my tuition. Is there any way to prove this and get them to take of the "$21,000/year" of expected family contribution that I'm not getting one red cent of?
|
# ? Jan 15, 2007 02:08 |
|
Read through the thread, and see if I've already answered your question. Not because I'm annoyed or anything, but because I'd hate to repeat myself if I've already addressed someone in a similar situation.
|
# ? Jan 15, 2007 06:51 |
|
My girlfriend is in a weird situation and your advice would be greatly appreciated. She's 24 and independent but has been living off of gifts that her family has given her. Those gifts have been enough to pay her rent and bills but only just barely. She has about $800 total in her bank accounts. Her family is financially unable to sustain these gifts so she's looking for whatever she can get for financial aid. Her EFC is obviously 0 but she has no wages so to speak (we couldn't figure out where to put gifts of any sort in the FAFSA application) so she'll need to pay for everything with loans and grants. We expect that she'll get tuition reimbursment and a pell grant for tuition and books but she'll still need to take out loans for rent and living expenses. Obviously she's hoping for a subsidized loan of some sort but we're both worried that she'll need to take out a bit too much in loans. She's meeting with a financial aid counselor this week to discuss options but I was curious, is there anything specific we should know before she goes in to this meeting?
|
# ? Jan 15, 2007 09:47 |
|
It would be better for her to go to the meeting, then come back with any questions she might have. Sometimes meeting with an aid counselor leads to more question than you had before. Those are the questions that I love the most. Tell her that if she has to take out loans, they might as well be federal loans, since repayment for a federal loan will be far kinder than any alternative loan could ever hope to be. Also tell her that trying to budget for as little in loans as possible is very wise.
|
# ? Jan 16, 2007 05:39 |
|
Wow, I thought you could just walk in and REQ a Student loan for $10,000. lol
|
# ? Jan 19, 2007 23:51 |
|
My situation: I'm 18, and currently a junior at Hunter College in New York City. I got an AA from a community college in Florida which was free after financial aid, but I had to go and choose to study out of state since I was extremely dissatisfied with Florida's educational system. Two words: Jeb Bush. Tuition has been covered by the Pell and Stafford loans, but I still need extra money just to get by in this expensive city. My rent is $800/mo (including all utilities), but I only make $7.50/hr part-time and can't seem to find anything better right now. And here's the topper: both of my parents are deceased. I may have perfect shiny credit myself thusfar, but I have no one who will cosign. I have a 3.0 GPA because yes, while I may have been smart enough to excel ahead, I did face my share of circumstances regarding my family that brought my grades down. Woo, no scholarships coming to me. I need $10,000 to get me through the rest of the year, but at this point, I'll take any amount. Sallie Mae, MyRichUncle, Goal Financial, and others have turned me down. I really have no idea what to do, but I've gotta get some money within the next month or I'm screwed. Help me, goons!
|
# ? Jan 20, 2007 11:20 |
|
Wiggy Marie posted:
Thanks, I was just checking this thread because I need to consolidate my loans. Adding it to the OP would be helpful. I went ahead and signed up with them and I noticed it said I get check for $595 if I consolidate more than $15000. Is this true and if so when would I get this money?
|
# ? Jan 23, 2007 04:51 |
|
|
# ? May 11, 2024 16:15 |
I consolidated my loans a few years ago. I still owe $19,694.09 and paying only $120.78 a month to Sallie Mae it feels like I am never going to get my loans paid off. If I started to pay like $500 a month (or whatever I could afford that month) would there be some kind of a penalty for getting it paid off early? Would it be worth it? Would I be better off just continuing to pay the 120.78 a month?
|
|
# ? Jan 23, 2007 05:58 |