A student loan is a loan taken for the purpose of education. Ideally the country tag should also be used as the response may differ based on the country.

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2
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2answers
76 views

Auto loan and student loan balance

I have a student loan of around INR 11,00,000 (~USD 18,240) at 13.7% APR. I have an auto loan in the US for USD 10,000 at 6.35% APR. I am aware of the high interest rate on my auto loan and wish to ...
4
votes
2answers
82 views

Is it bad to consolidate and pay off private student loans with margin from my brokerage account?

I have several private student loans that aren't eligible for debt forgiveness and with interest rates between 10-15%, for a total of about $30K. I think it would be easier to pay the loan down over ...
1
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1answer
24 views

Do I count as student loan interest the payments I make on a PLUS loan that was taken out for my tuition?

I took over paying my mother's monthly PLUS loan payments, taken out for my education. (Sallie Mae autodeducts the monthly payments from my checking account.) Can I count the 1098-E for that account ...
-6
votes
2answers
51 views

Balancing an Interest Accrual Rate Between multiple loans

Tags: multiple student loans , balancing interest accruals , student loan help
3
votes
1answer
187 views

Can I default on my student loans if I move to another country?

I am moving away from the USA and I don't really plan on coming back. What are the consequences if I stop paying my student loans? My current debt is ~50,000 USD in federal loans. I know next to ...
1
vote
1answer
69 views

Forgiveness and payments [duplicate]

I've read in several places around the Student Loans repayment policies and I see a lot of forgiveness perks for having made more than 125, or 300 payments. I am currently on the IBR repayment plan ...
25
votes
13answers
5k views

Why might it be advisable to keep student debt vs. paying it off quickly?

As of a couple weeks ago, I paid off all of my student debt. Hooray... But I have a friend named A who has a friend named B who is a financial advisor (a young so therefore perhaps ignorantly ...
2
votes
1answer
117 views

Debt Forgiveness - Extra Payments

Student loans can be forgiven after ten years of being a teacher (link). If there is no chance for a new teacher to pay off the loan in ten years, is there any benefit to pay anything other than the ...
2
votes
1answer
96 views

Buying a car and learning to drive versus paying up study loans

My wife and I have two children. Soon we will have three. Neither of us know how to drive, and we do not have a car. With the prospect of having three small children, however, I think having a car ...
4
votes
2answers
118 views

Which student loans to pay off first: Stafford or private?

I'm really trying to buckle down and get ride of my student debt. I currently have Stafford and Private loans (I owe more on my private loans). I'm wondering which are best to pay more towards? ...
3
votes
1answer
67 views

How can I pay off my school loans (denominated in dollars) with Euros without an exchange fee?

I will soon begin earning an income in Europe and paying off school loans in the U.S. Any way to do this without paying an extra exchange fee?
1
vote
2answers
40 views

How to make spreadsheet to plan loan payments

I am trying to make a budget/schedule for after college. Basically I have rows of income/expense line items (one being for payment of each debt) and then a section for my debts. The columns are month ...
3
votes
1answer
112 views

How rate of interest scheme in bank works?

When I was looking at SBI site, I got this info: Loan Amount Rate of Interest* For loans upto Rs.4 lacs - 3.50% above Base Rate, currently 13.50% p.a. What does it mean? interest rate is ...
2
votes
1answer
29 views

Re-financing/consolidating multiple student loans for medical school?

Currently my friend has 5-6 loans for medical school in the 6.8% to 7.9% interest rate. The loans are of type Stafford, Unstafford, Plus, and a few others. I looked at ...
3
votes
1answer
70 views

Is it common for student loan debt to be paid with another loan found at lower interest?

I currently have 22k in student loans at 6.55% interest. I checked my credit score and it was 706 a couple of weeks ago. I am a recent college grad with a decent paying job right out of college. What ...
4
votes
1answer
73 views

Loan with Sallie Mae at 16 without a Co-Signer

My mom got a loan out while I was in Cosmetology school and it was supposed to be for me but she ended up spending all of it. I was only Sixteen and the Sallie Mae person on the phone said I didnt ...
9
votes
1answer
242 views

$140,000 student debt. What are my options? Please help

As the title states, I am about to finish my PhD with $140,000 dollars worth of student debt. Assuming I even obtain my desired position—a university professor—my salary will be in the upper $40,000. ...
6
votes
1answer
263 views

Estate liability for co-signer to Sallie Mae student loan?

My son has student loans. I co-signed on three that are currently with Sallie Mae. He stopped paying so I am doing that in order to protect my own credit. What is my estate's liability should I die ...
0
votes
0answers
35 views

What expenses to include in student loans

I am considering going back to school to get my Masters and I will need to take out student loans to pay for it. I was speaking with financial aid at one of the schools I am looking at and they ...
0
votes
1answer
88 views

Should I have to pay the bad debts

I got educational loan on 2008 from one of a Bank in India. So far I am paying only interest money not principal money for it, but it’s also not regularly, I left some intermediate gap on it. Last ...
1
vote
2answers
133 views

How should I handle student loans when leaving University and trying to buy a house?

I am currently in my last year of university and I am trying to figure out when I should buy a house. A couple of quick points: Senior in univeristy (graduate May, 2014) Already accepted an offer ...
6
votes
1answer
697 views

Is there a most efficient way to pay off multiple loans with the same interest rate?

My Situation: About $36k USD in graduate student loans. There are 4 different federal loans in play, each with a fixed rate of 6.8%. $12k w/ ~$1.2k in unpaid interest $10k w/ ~$1k in unpaid ...
4
votes
1answer
159 views

What are my options for paying off the large balance of my federal, high interest student loans?

I have a large student loan from grad school that's over $41,000. I graduated in 2007, before the economy crashed and I was locked into some very high interest rates. I consolidated the Plus and ...
2
votes
3answers
1k views

Should I just pay off my car and student loans?

Here are the loan details : Car Loan : 2.8% APR with a balance of $11,300 Student Loan : 3.0% APR with a balance of $7,300 I have enough cash to pay off both loans today. Should I pull the ...
2
votes
1answer
212 views

Need help with my financial situation/life, very unhappy

I am 24 and have $21,000 in student loans and no degree. I dropped out of college because I wasn't sure what I wanted to do and for my last quarter I took F's. Now I can't go back and get financial ...
6
votes
1answer
77 views

Verification of student loan amounts

I consolidated my student loan debt with FedLoan a year or two after graduation. Is there an easy way to verify that my current balances are accurate? Is this something an accountant would handle, or ...
1
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2answers
1k views

Getting around Gift Tax in US

I've been transferring money to my fiance's account to help her pay her student loans. I just realized that I went past my yearly gift tax allowance for her ($14,000 for 2013) by $3,000. I realize ...
5
votes
1answer
154 views

How to dispute a balance transfer that never posted with other creditor?

Three months ago, I did a credit union credit card balance transfer at 0% to pay down three student PLUS loans. In the payments, the account number and sequence number for the three loans were given. ...
3
votes
1answer
130 views

Grad student - Pull money from 401k, or get student loan?

I went back to school after a few years in industry. The PhD has a stipend, but it doesn't quite go far enough. I'm dipping into savings each month. I'm looking for a little extra cushion. I have a ...
3
votes
2answers
98 views

Financing Education through Credit Card or Student Loans

I'm currently back in school, full-time, for an MBA (20 month program). I don't need to worry about tuition, but I still need to pay for living expenses out of pocket. Should I rely on student ...
7
votes
1answer
667 views

My student loans are on an income-based repayment plan. How does this affect my debt-to-income ratio?

If my student loans are on an income-based repayment plan, how does that affect my debt-to-income ratio? Is it reported at the current amount I'm paying, or what I would have been paying if it weren't ...
3
votes
3answers
228 views

How should we prioritize retirement savings, paying down debt, and saving for a house?

My wife and I are newlyweds. We currently have 6 months' emergency fund (3 months are currently in a CD, and 3 months in a high-yield savings account.) We are contributing to get the full match in her ...
2
votes
1answer
56 views

Would student loan consolidation through a private party still be tax deductable?

I have a private party that would be interested in paying off my student loans and in turn, extend me a loan at a slightly reduced interest rate. This makes sense to me until I get to the point where ...
2
votes
3answers
3k views

What are the advantages or disadvantages of paying off student loans early? [duplicate]

Possible Duplicate: Paying off student loans early/lump sum — best practices? I'm curious as to the advantages or disadvantages of paying off student loans early. I understand that interest ...
1
vote
1answer
206 views

Is $0 unpaid interest on a student loan effectively 0% APR?

I have two loans: Unsub Consolidation Loan and Subsidized Consolidation Loan, both at a 6.5% fixed rate. However, I've paid all the accrued interest. Therefore, if I were to "start fresh" today; would ...
3
votes
2answers
546 views

What is the best way to pay back a(n unaffordable) private student loan?

Let's say I owe a private student loan of $50,000, and it's already been discharged to a 3rd party for collections. Monthly payments would be several hundred dollars, which is something I cannot ...
3
votes
3answers
350 views

How will making monthly student loan payments before grace period ends affect credit?

I recently graduated with student loan debt, and my grace period will be ending soon. Most of these loans are subsidized, meaning I do not pay interest until the end of my grace period. If I begin ...
5
votes
2answers
184 views

Do I have an option to transfer parent plus loans to myself?

My wife and I are currently about to start our payments for student loans. All of our loans are federal student loans through Direct Loans. We also have a parent plus loan, which is technically under ...
5
votes
2answers
88 views

How much extra to put towards loans? I can't judge which gives me more utility

So I can now calculate exactly when my loans would get paid off by ensuring I consistently contribute some amount X to my loans where X is greater than the sum of the monthly minimums, where the extra ...
2
votes
2answers
43 views

Is there a program out there that will give you details for paying X extra per month?

I've got about 6 loans or so with different payoff times and interest rates. My general strategy is to calculate how much I'd save by paying an extra X per month, always directed towards the loan with ...
0
votes
1answer
75 views

Calculating payoff date and monthly payment for a school loan?

How can I verify the minimum monthly payment number and how it breaks down into principle vs. interest if all I know is the current balance and interest rate? How can I determine the payoff date of ...
3
votes
3answers
348 views

Trying to figure out my student loans

Please let me know if this is too much information/perhaps unsafe private information to reveal. I am trying to understand the finances behind this stuff and what I can do to get rid of my loans ...
9
votes
2answers
221 views

How much is enough to save as a rainy-day fund before I start plugging my higher-interest student loans?

Typically, what is considered realistic? 6 months expenses? A year? I understand this is more of an "opinion" question but I am still curious what people think is a responsible buffer (in the event of ...
1
vote
2answers
145 views

Budget planning for students

I hope this question is a good fit for the site. So, I have just been accepted at a university (UK) and being 18 I don't have much experience planning budgets and certainly not for anything longer ...
3
votes
3answers
195 views

Building Credit for a Young Person with No Credit

I don't have any credit established but I'm a computer programmer and I make pretty good money. I'm 21 and I would like to buy a new car. I can't get a loan because I don't have any credit and I've ...
2
votes
1answer
203 views

Any smart way to get the interest down on our student loans?

Trying to figure this out. I have a student loan $24,000 at 6.55% with Nelnet, and my wife has $48,000 at 5.2% with Mohelo. We have a home worth $220,000 with $40k in equity, and the rest at $180k at ...
1
vote
1answer
195 views

Can student loan minimum payments go up upon full repayment of another?

I am in the U.S. and currently paying off student loans. Here is a hypothetical situation that shows what I am asking about: I have 5 loans (all from one financial institution) of $1,000 a piece, ...
12
votes
4answers
799 views

Can someone help me understand my student loans?

I have more loans than these but I am wondering how to handle these three (all with the same bank): 3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170 2.5%, ...
4
votes
3answers
111 views

How can I use my low credit card rate to save interest on my student loan payments?

I have student loans at a rate of 6.55%. I have zero credit card debt - and have a card with a rate of 6%. I have a comfortable amount saved for emergencies and have some extra income that can go ...
4
votes
4answers
168 views

Schooling - Pay in cash or take the subsidized loans?

I'm going back to school in about a month. I will be going after my bachelors degree in Information Technology with an emphasis in Software Development. I am in a position right now where I could ...