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I have a 24,000 GradPlus loan at 6.8%. How can I lower the interest rate? Do any private companies offer consolidation at lower interest rates?
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Jan 13, 2013 01:55
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I have roughly 15k in student loan debt, with 12k of it at over 6% interest. It seems if I just make the minimum payments. . .The balance never goes down. What would be the best way to pay that off besides all at once? An extra 50$ a month? Double payments?
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Jan 14, 2013 19:53
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Pon de Bundy posted:I have roughly 15k in student loan debt, with 12k of it at over 6% interest. It seems if I just make the minimum payments. . .The balance never goes down. What would be the best way to pay that off besides all at once? An extra 50$ a month? Double payments? http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx Use that, put in $12k at 6.8%. Term of 10 years (assuming standard repayment terms). Click "Show/recalculate amortization table" and see how for the first few payments, about half of the payment goes just to interest. This ratio gets a little better as the loan progresses. You can choose to add payments in that same prompt, to compare a couple scenarios. By plugging in numbers and checking, you'll see how long it will take to pay a loan with a given extra payment or whatever, and what total interest you'll pay over the life of the loan. (There are formulas you can use to determine this, where you can solve for completing a loan at a certain time period or whatever, but they're not worth learning unless you're doing this every day for different people/projects) As a rule, the most money you can put toward the loan earlier, the better. Look at the chart and try adding an extra $1k payment in October, 2013. Notice the paid off date changing. Then recalculate with an extra $1k payment in October 2016 instead of 2013, and notice how the payoff date changes. Keep in mind here other smart financial practices when you're paying off your loan. If you wipe out all your cash savings paying towards the loan at 6.8%, you're going to feel really stupid putting $2k on a credit card at 18% if you lose your job/have an unexpected expense come up 6 months later.
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Jan 14, 2013 20:23
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fivetwo posted:I have a 24,000 GradPlus loan at 6.8%. How can I lower the interest rate? Do any private companies offer consolidation at lower interest rates? The only way is to use automatic draft for payments once you hit repayment, which should get you a .25% reduction. There's nothing else available, unless you happened to get that loan back in the day when tons of incentives existed. You should call the servicer to see if there's any program built in / currently active. Right now all GradPLUS loans are 7.9%, so comparatively you're not doing badly!
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Jan 15, 2013 03:41
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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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What interest rate are the Student Loan People loans at? If the unsubsidized loans currently in deferment are the highest interest rates, I would pay them first (even in deferment, as they are capitalizing interest). The way to pay off your loans with the least interest paid is by paying the highest interest rate loans first. Between two loans at the higher interest rate, use remaining balance as a tiebreaker (pay lowest balance first) It's been discussed in other threads, but the principle behind the 'debt snowball' method is a psychological one. The idea is that seeing loan balances be completely paid off is a great reward which encourages a person to continue making progress to eliminate debt. This is true for almost everyone. Dollar-wise, you will pay the least interest by paying off the highest interest debt first. This is fact. But it won't do you any good if you don't stick with it, and chipping away at a high balance, high interest loan for 14 months doesn't provide a lot of positive reinforcement along the way for most. I think both approaches have their place. Also, don't forget to sign up for direct withdrawal on payments the day your loans go into repayment. You want that 0.25% interest rate break, man! canyoneer fucked around with this message at 17:26 on Jan 15, 2013 |
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Jan 15, 2013 16:45
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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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I consolidated some loans from Sallie Mae to Nelnet a while back. After the loans transferred over I had an overpay to Sallie Mae that sat on the account for about two months, then they claim that it went to Nelnet. I want to confirm this balance transfer myself, but Nelnet's online payment history does not show information like this and their online email support has not been very helpful. The responses I get seem to range between me needing to contact Sallie Mae (I already have, they said it's been transferred) to apparently not really reading my question. Anyone have to deal with this before? Would calling them be any more helpful?
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Jan 16, 2013 02:42
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I've been meaning to post here before as it's been about five years since college and I feel I've been paying too much considering how much I take home from my job. I have about 55,000 in student loans from 5.5 years of college (I was getting my 150 credit requirement for the CPA examination taken care of). The loans are split between Sallie Mae (35,000 those mother fuckers) and federal (20,000). I make $19/hour right now as an accountant in industry which comes out to just under $40,000 a year in take home. Every month I pay $416.27 to Sallie Mae and $206.56 to federal. This comes to 622.83 a month or $7,473.96 a year. I also have a dinky loan from Michigan Tech that I pay $250.00 quarterly on. This means I play annually about $8,500.00 from a before-tax income of around $40,000.00. It feels like it's too much as it's higher than my rent. I don't believe I can consolidate the two types (private and federal) of loans together. Any advice on what I should do to make my payments more reasonable? Thanks and please let me know what more information I can provide.
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Jan 16, 2013 04:51
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This may be a little e/n, but I'll try to keep it brief. I was last in school fall 2010 for a semester (first year of uni after a couple years community college, puts me at about...half-way though sopohmore year? Maybe?) I had to leave due to financial issues, but not until AFTER I had taken out loans. Over the next two years both my parents lost their jobs, and are now relying on my sisters' and mines' (literal) McJobs to help support the family. I have repaid a portion of the loans, but still owe about $3400 (and accepted whatever it was they offered me to...not pay for a while due to hardship. deferment?) I would like to pay this back so that I can go back to school, and am looking through the exit counseling on the student loan database, but am unlikely to pay back the entirety of it anytime soon. My main question here is: How much do I have to pay back in order to get back to school? Could I take out more loans if I needed to? I honestly don't think I'd make much in the way of scholarships, and I can't depend on family for tuition at the moment.
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Jan 16, 2013 05:13
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Hey guys, I am coming up on loan repayment in April and I have a few questions regarding my repayment options. I have $100,000 in federal student loans and I finished grad school in August. I make $40,000 a year before tax in California. 1. First of all, since I just started my job in October, wont my adjusted gross income listed on my tax return this year be very low as I will have only worked for a few months? Is this the Adjusted Income I will use in paying under the IBR plan, or will I need to pay based on what I will earn in the coming year? 2. Does forgiveness under the IBR plan occur after 20 or 25 years of repayment? I have seen both numbers used. 3. Is the local cost of living taken into account when determining my IBR payments, or is the cost of living assumed to be a national average? I live in Los Angeles so my discretionary spending would presumably be less than someone living in a cheaper place. With a pre-tax income of $40,000, how do I calculate my discretionary spending, and then how do I calculate my monthly payment?
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Jan 18, 2013 23:44
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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. Binary, does Nelnet actually hold your account now? Have you received letters with an account number? If so, you can log into their online system to check on that. Otherwise, it sounds like you need to start calling and asking for supervisors to help out, since you're getting a bit turned around. Just keep this in mind: if you loans were transferred to another servicer, it can take up to 3 months to hear anything from them due to the transfer processing. 19 o'clock, have you consolidated them separately? You're correct in that you can't slap them together, but you can consolidate them separately and see if that lowers your monthly payment. Unfortunately, the drawback is that it also increases the repayment time. With your income I'm not sure IBR would help, but it's worth a check with your federal loans servicer. Also, if that loan from Michigan Tech is a Perkins, you should contact them and ask about forgiveness programs. Sometimes it happens! Otherwise, you should contact the federal loans servicer, explain your situation and ask about your repayment options. They might be able to lower the payments there. Make sure you tell them about your private loans, they can take those into account when figuring prices. Stool Sample, schools don't care about your previous loans unless you 1. defaulted or 2. hit your total aggregate limit as an undergraduate, which you don't sound like you have. So don't worry about your previous balance! You'll be eligible for more loans. Hopefully you can also now file as an independent per FAFSA guidelines and get into more eligiblity. Good luck!
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Jan 21, 2013 02:00
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I'm about having to start paying back my loans of $10,200 after 6 months of not being in school. I'll be transferring to a different university in the fall, and I hope to get new loans/grants there. Will the payments on my current loans stop once I'm back in school full time, even though it will have been after a year of not taking classes? How does all this work with changing schools?
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Jan 22, 2013 06:59
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Wiggy Marie posted:Good luck! Thanks for the advice, Wiggy! Great thread!
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Jan 22, 2013 16:00
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TheManWithNoName posted:I'm about having to start paying back my loans of $10,200 after 6 months of not being in school. I'll be transferring to a different university in the fall, and I hope to get new loans/grants there. Will the payments on my current loans stop once I'm back in school full time, even though it will have been after a year of not taking classes? How does all this work with changing schools? As long as you'll be attending at least half time, your loans will be placed back into an in-school deferment. Just keep in mind that your grace period is gone, so you will enter repayment sooner after you graduate/leave/etc. A lot of servicers will align grace periods on old versus new loans though. Once you hit that point you can always check on that!
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Jan 22, 2013 16:33
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So I have 3 federal loans all serviced through Nelnet A. $5,367.09 @ 3.150% B. $4,393.73 @ 4.250% C. $7,281.04 @ 6.550% interest rates include .25% discount for direct deposit. I started paying them off when my deferment ended a couple months ago. Their standard payment plan was something like $180 a month, so I set it to direct debit $200. I don't have any specific questions... but is there anything I should be doing other than a pretty standard payoff?
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Jan 22, 2013 20:15
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You could make sure any extra money goes to your highest interest rated loan. It will save you money in the long run.
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Jan 22, 2013 20:19
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Guy Axlerod posted:You could make sure any extra money goes to your highest interest rated loan. It will save you money in the long run. Does that not happen automagically? That's US law for credit cards, right?
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Jan 22, 2013 22:19
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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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Currently, I have all my student loans (federal loans and two private lenders,) set up to do direct debit from my checking account. Because of this, I basically log in to the websites maybe twice a year. I went to the Department of Education website to get my 1080-E form, and I noticed this: I checked my payment history and:  Uhhh...WTF?! Where did that $42,000 payment come from? At first I was scared shitless because I thought maybe my online payments stopped working, the loan defaulted, and it went to collections, or something. But I checked my bank statement, and I still have $304.08 dollars getting debited from my account every month from the Department of Education. It's clearly some kind of "internal" balance transfer, or something, but now I have no idea how to actually view my current balance or change my payments. Did they change the website I have to log into again*? *I swear to God, every year the website, or my log in, or something changes and it completely screws my over.
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Jan 23, 2013 00:15
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The National Student Loan Database will list who owns your loans: http://www.nslds.ed.gov/nslds_SA/ Also, if your loans were transferred mid year, you will have more than one tax form, one from each servicer.
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Jan 23, 2013 01:34
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canyoneer posted:Does that not happen automagically? That's US law for credit cards, right? My experience was that it was a huge pain in the rear end to get extra payments applied to the correct loan, including lots of misinformation when I called for help, and when the distribution was finally right a month later it retroactively changed to being wrong.
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Jan 23, 2013 06:16
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Guy Axlerod posted:The National Student Loan Database will list who owns your loans: http://www.nslds.ed.gov/nslds_SA/ God drat it. That is really annoying. I even checked the messages on the "main" Dept Ed site, and it said nothing about my loans getting transferred. Government bureaucracy in action.
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Jan 23, 2013 13:49
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So, I'm broke, and I would like a private loan. However, my school claims that by THEIR calculation of my living costs, I should be sitting pretty. The private loan people will only pay me the different between my cost of attendance and my financial aid. This is done through the private loan self certification form required by Truth In Lending. Am I required to provide the numbers provided by my school, or do my own calculation based on my actual expenditures and costs? Do they contact the school for verification of their cost of attendance? For the record, I am trying to take out 10k, an additional 5k a semester over my universities projected costs. I have a cosigner who has been tentatively approved.
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Jan 25, 2013 04:15
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The school certifies the amount of loan you can get, so you can apply for any amount you want but if the school won't certify, you can't get it. You will need to give the FA office your calculations to justify the additional expense, and them approving your situation (it's called a Professional Judgement, if you're curious!) is by no way guaranteed.
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Jan 30, 2013 04:06
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So I finally got a job in which I can start to pay off my loans. Hurray! I am in a rehabilitation program on one of my loans but have two others I have completely ignored. I, however, am in a position to completely pay off one of the loans I ignored. Should I just send them the money immediately to get it out of the way or call them up and ask to be put on a rehabilitation program in order to get the default removal perks. From what I understand, by going into a rehabilitation program I get the default removed from my credit report, but if I simply paid them now I would have a "closed-paid" with the default still rearing it's ugly head. Do I have that correct in my head? What would be the best course of action? George H.W. Cunt fucked around with this message at 02:03 on Jan 31, 2013 |
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Jan 31, 2013 02:00
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I was looking through my old phone messages, and it turns out I was in a hardship forebearance instead of default (which I guess is better?) I went through the exit counseling on the loan database website, so when my next bill comes I'll have that $50 a month set up. I messaged the financial aid of the school I'm hoping to apply to, and they said I needed to be under some kind of payment plan and fill out my taxes and fafsa (which I am, but need to make a new w4...different issue from this, not getting into it.) My question at the moment is, how is the forebearance going to affect my situation, as opposed to a default? When should I be applying for this school?
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Jan 31, 2013 02:31
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SaltLick posted:So I finally got a job in which I can start to pay off my loans. Hurray! I am in a rehabilitation program on one of my loans but have two others I have completely ignored. I, however, am in a position to completely pay off one of the loans I ignored. Honestly, I'm not sure. We always tell people to pay them off ASAP but we're not guarantors, so I'm not sure if they require rehabilitation for credit reasons. You should definitely call and ask, and make sure to tell them you not only have the money but are willing to pay. Also, beware of accrued interest! Stool Sample posted:My question at the moment is, how is the forebearance going to affect my situation, as opposed to a default? When should I be applying for this school? Forbearance is about a zillion times better! Default is something that has to be resolved; forbearance makes no difference at all. If you did default in the past, though, they might need a letter saying that it's resolved. Sounds like you're in good standing though.
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Feb 2, 2013 01:23
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I read the OP but I'm a bit confused about the different replayment options/schedules, I qualify for most of them so I wanted to get a little feedback. So my current setup is this. I have 2 loans consolidated with Nelnet Principle Balance: 16,542.42 Interest 6.250% Here's a snapshot of my account on Nelnet:  I'd like to know the best way to pay this down. Currently it's standard repayment, but I qualify for Income Based, Graduated, Income Sensitive, and Reduced Payment Forbearance according to Nelnet's little calculator. Should I stay with Standard and make an additional payment every month to the principle if I can afford it? How should I go about making sure the additional payment is solely towards principle? When I use their "Pay Now" link I can choose to allocated funds to either the group D or group E loan, even though it's consolidated? Should I be focusing extra payments on the Group E balance to knock it off or does that even matter? Sorry for the presentation and wall of text, I just look at this thing and get depressed so I want to do something about it.
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Feb 5, 2013 02:08
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No worries about presentation! It's easier to answer with all the info. That being said - honestly, if you can afford to stay on standard repayment, you should. This will help you pay down your loans faster. Also, the extra payments will also help, as will breaking your payments up each month (you end up paying less interest, honest!). Just keep in mind that all payments hit interest first and interest accrues daily, so there's not really a say to hit principal only while in repayment. If you need a lower payment though, you can use IBR and still make extra payments when you can. You can, however, look up your daily interest accrual and plan payments accordingly to hit as much principal as possible. Take heart! You seem to be on top of things and your total debt isn't bad at all. You got this!
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Feb 5, 2013 14:16
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Double checking I have this right. I graduated med school back in June. At that time, I consolidated all of my med school loans under special direct loan consolidation and have been paying them under IBR. Unfortunately, one of my Perkins loans through a different servicer didn't get consolidated and is now coming due soon. Correct me if I'm wrong here: my options are to either. 1) Pay this loan off normally 2) Reconsolidate the loan under a new consolidation/eliminating my 6 months or so of "credit" towards IBR/PSLF. As far as I can tell, federal perkins loans are not eligible under IBR unless they're consolidated. Am I wrong here? Thanks a bunch!
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Feb 13, 2013 17:52
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I'm actually not sure about Perkins since they're serviced by other entities or the school, however the first thing you should do is call the school (or servicer of the loan) and ask about any forgiveness plans they might have available. If there's nothing you can use, check out their repayment options, and then after that you can look into having your loans reconsolidated if needed.
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Feb 16, 2013 01:48
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I am seeking some help with my situation. I just graduated Nursing school and got a job at a the University of Colorado Hospital where starting yearly salary I believe will be around $45k. Pay is not great and I am still determining if I qualify for http://www.hrsa.gov/loanscholarships/repayment/nursing/. Not sure yet due to my position in the Nurse Residency Program. As it stands 1/3 of my post tax salary will be to student loans. I knew what I was going into but now I want to take care of it smartly. My question is that if you were in my position, what would you do? Would you consolidate the federal loans I can at a rate of 6% and pay for 30 years or keep my current situation paying each separately? If I do consolidate through direct loans, am I still eligible to write of the interest paid on my taxes? From reading around it seems that if I do it through a third party, I lose that ability. My goal at the moment: Pay off the SalleMae (huge interest rate) one ASAP because I do not owe my other loans until July (800x4 = 3200 + monthly), Start monthly on all the others. No point in over paying the loans at 4.5 or less quickly. Here is my information: Amount of Loan Rate Monthly #Payments Federal loans Direct Un-subsidized: $10,229.38 6.550% $132.70 119 Direct Subsidized: $7,074.00 5.495% $80.88 115 $1,198.00 4.250% $12.30 120 $2,613.72 2.140% $27.16 106 $28,245.15 6.550% $322.19 120 Direct School Consolidation - Consolidated during my first degree, SallieMae has rights from the government now.: $12,110.74 2.625% $130.64 105 Totals: $61,470 Monthly Payment: 705.87 Federal Nursing Loan through my University: $6000 5.000% $64.64 117 Sallie Mae (went to my last semester without needing outside help) $10487.59 8.250%V $72.10 120 All together, my total loan amounts are $77,957 if I do not consolidate my loan payments and pay each separately will be $842/month. This will be for 10 years Using OP's post website's calculator: Interest Rate - Consolidation Loan 6.000% Total Loan Balances Total Consolidation Loan Amount $55,359.87 Total Education Indebtedness $77,988.54 For ICR and IBR Plans Adjusted Gross Income (AGI) (Applicant) $0.00 Adjusted Gross Income (AGI) (Spouse if married) $0.00 Marital Status Single Family Size (including yourself) 1 If married, you and your spouse file federal income tax jointly false State of Residence Continental US IBR Plan Estimated Total Loan Balances (see Note 5 below) Total Consolidation Loan Amount $55,359.87 Total Education Indebtedness $77,988.54 Repayment Plans Months in Repayment Initial Monthly Payments Total Payment (Interest+Principal) Standard 360 $331.91 $119,487.74 Graduated (see Note 1 below) 360 $276.80 $129,467.74 Extended Fixed Monthly Payment Option 300 $356.68 $107,005.33 Graduated Monthly Payment Option (see Note 1 below) 300 $276.80 $116,641.80 Income Contingent (see Note 2 below) 300 $0.00 $0.00 Income-Based (see Note 2 below) 300 $0.00 $0.00
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Feb 17, 2013 00:29
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UnhealthyJoe posted:I am seeking some help with my situation. I just graduated Nursing school and got a job at a the University of Colorado Hospital where starting yearly salary I believe will be around $45k. Pay is not great and I am still determining if I qualify for http://www.hrsa.gov/loanscholarships/repayment/nursing/. Not sure yet due to my position in the Nurse Residency Program. As it stands 1/3 of my post tax salary will be to student loans. I knew what I was going into but now I want to take care of it smartly. I'm in the same situation. Just graduated nursing school (2nd degree) and I have about $61,000 in federal loans plus $27,000 Sallie Mae. My wife is also a nurse and I believe she has somewhere around $50,000 in federal loans. From what she was looking at, we can consolidate all our federal loans. Is that correct? Do we have to wait for my forbearances to end (all my loan payments are scheduled to start around July) to consolidate together? Who do I speak to about this stuff? Would a financial planner be able to figure all this stuff out? We've been wanting to see one anyway. I was going to try for the federal nurse corps loan repayment program, but the data on their website says 5600 people applied for it last year and only 500 were accepted. The hospital I'm working at meets all their criteria.
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Feb 20, 2013 20:00
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Cool! According to an email I received, my student loan account was transferred from MyEdAccount to Granite State Management and Resources, and when I try to register it says that my date of birth is not assigned to my SSN. Pretty boss, especially since I have a payment due in a week.  edit: Called them up, no big deal. It'll take 10 days to get the account set up and I "shouldn't have to worry" as long as my bills are up to date. Still, kind of annoying to get it switched like that with no warning. Electric Crayon fucked around with this message at 23:38 on Feb 21, 2013 |
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Feb 21, 2013 23:34
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UnhealthyJoe, I would consolidate the hell out of those loans. The only one you should be careful about is the federal nursing one. Call the school / servicer and ask about forgiveness programs they might have first, because if you consolidate you lose those options. If you consolidate, even though you stretch the lifetime of the loans you can still pay how much you want, when you want, and there's no prepayment penalty. So don't worry about the extended repayment time. You can still pay them down faster if you get a chance, you'll just be able to hold off on the high payments for a while if needed. Also, look into IBR, it might be able to help you. The Antipop, before you go see a financial advisor (which I think is a great idea) you need to learn absolutely everything relevant to student loan repayment terms, methods, options, etc., because a lot of times people outside of the student loan business have no idea how the program works and give bad advice because they don't know any better. Hopefully that wouldn't be the case for you, but if you knew what your options were you'd also know if they suggested something that can't happen with student loans. Electric Crayon, I'm afraid that transfers like that are going to be very common from here on out. Since everything is held by Direct, and they're serviced by multiple entities who they can move contracts around in whenever they want...yeah. Loans are going to be constantly shifted and transferred now. It sucks for borrowers.
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Feb 24, 2013 14:02
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Wiggy Marie posted:UnhealthyJoe, I would consolidate the hell out of those loans. The only one you should be careful about is the federal nursing one. Call the school / servicer and ask about forgiveness programs they might have first, because if you consolidate you lose those options. After talking with some financial advisers, it seems leaving them where they are right now is the best thing. Consolidating I can lose some flexibility. Putting them all together only dropped monthly payments by a mere 100 dollars for but I pay for an extra 20 years. Not quite worth it.
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Feb 25, 2013 02:05
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How often do the feds reject loan consolidation? I put my application in this weekend and I kind of need to get accepted to take advantage of the 10-year public service forgiveness program. My credit is good, at least. It's just unclear to me what criteria they use.
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Feb 25, 2013 18:49
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Wiggy Marie posted:The Antipop, before you go see a financial advisor (which I think is a great idea) you need to learn absolutely everything relevant to student loan repayment terms, methods, options, etc., because a lot of times people outside of the student loan business have no idea how the program works and give bad advice because they don't know any better. Hopefully that wouldn't be the case for you, but if you knew what your options were you'd also know if they suggested something that can't happen with student loans. Thank you for your suggestions. I will make sure I read up on all the loan stuff before I talk to someone.
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Feb 25, 2013 21:48
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Your payment amounts under IBR get recalculated every year, right? About a month ago I got approved and Nelnet lowered my payments from $200 a month to $122. But on my payment schedule they're showing that my $122 payment is only for months 1 through 12, and then it goes up to $193.
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Mar 1, 2013 05:33
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