Tagged Questions
2
votes
2answers
53 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 ...
3
votes
3answers
141 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
44 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
876 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
87 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 ...
5
votes
2answers
87 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 ...
3
votes
3answers
133 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
121 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
149 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, ...
4
votes
3answers
102 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
149 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 ...
7
votes
2answers
162 views
Which graduate student loans are preferable?
It seems that subsidized loans will no longer be offered to graduate students studying in the US. Students will typically have two choices, Unsubsidized Stafford Loans and Federal PLUS Loans.
...
2
votes
1answer
101 views
How to calculate outstanding Graduate Plus Loan balance currently in deferment?
Can someone tell me what I'm doing wrong here?
If I have a $56,500 loan and the interest rate is 7.9% how much will I
owe after 8 months?
I thought this would be fairly simple. I would ...
3
votes
2answers
150 views
Faster degree with debt or slower degree with no debt?
I'm looking at going back to school, and I have the option for two different speeds at which I could pursue my degree. The following numbers are assuming none of my credits transfer. They all should, ...
5
votes
1answer
111 views
How do Income Contingent student loan payment plans work?
In order to benefit from Public Service Loan Forgiveness, I need to select a payment plan that leaves a balance on year ten. Thus far I've focused on Income Based Repayment, which is a newer option ...
3
votes
1answer
2k views
FAFSA: Do I still report my parents' income if I am not claimed as dependent?
I'm 19 and it's nearly time to fill out the FAFSA again.
Most of the time, until you're 24 (or is it 25?) you report your parents' income on the FAFSA.
However, my parents do not claim me as a ...
9
votes
2answers
168 views
How will I pay for college?
The SAT is coming up soon for me and, with it, everything college. I had held the impression that I was just going to rack up student loans, go to college, and then pay them off with whatever job I ...
2
votes
5answers
190 views
Can a debt collector deny a consolidation?
I've asked this question below...
Can a debt collector garnish my wage without a judgment?
but thought it be better the break these up into seperate questions...
PHEA, who is acting as a debt ...
7
votes
2answers
472 views
Can a debt collector garnish my wage without a judgment?
I am going through student loan hell. Trying to consolidate loans and running into walls (repeatedly). I am getting overwhelmed.
Can a debt collector garnish my wage without a judgment?
I am trying ...
3
votes
2answers
95 views
Improving credit score by taking on spouse debt, possible?
My wife and I recently purchased a car, during the process I was shocked to learn my credit score was below average (no debt, healthy credit limit and always paid balances in full, good income) while ...
2
votes
1answer
106 views
How do I fill out my FAFSA form if my mom has two jobs?
My mom gets two separate W-2 forms from two separate jobs. How do I take this into account when filling out my FAFSA form?
0
votes
2answers
135 views
Student loans in IBR plan, should I pay more on them or pay more on our mortgage?
My husband purchased his house a year ago. We are looking into making it an investment property. We want to fix it up and pay off a reasonable chunk of the mortgage to hopefully have a good return ...
1
vote
3answers
144 views
Best strategy for paying off my multiple student loans?
I have a massive amount of student loans (master's degree overseas, basically traded the extra money for about 2-3 years of my life due to differing lengths of education). Now that I have a job and ...
5
votes
3answers
315 views
How do I set up the formulas to properly split monthly loan payments to principal and interest?
This has been a small annoyance for months now: the formulas GNUCash produced via loan repayment wizard don't match up with my lender's amortization tables. The formulas use pmt() functions, like this ...
5
votes
3answers
410 views
Should I take a loan on my 401k to repay student loans?
I have a student loan that has 6.5% interest (highest rate of many) and would be able to repay it if I took a loan on my 401k. I know the basic trade-off is that my money may do better in the 401k ...
8
votes
1answer
343 views
Are student loans tax deductible in US?
If I have a student loan from finishing my graduate degree, can I deduct its interest payments from salary for tax purposes?
Is there any education related tax credit that can be applied for payments ...
4
votes
3answers
113 views
What options are there for consolidating a large amount of private student loan debt?
I'm currently in a weird situation - I have a large amount of accrued debt (85k principal, ~15k accrued interest so far), spread amongst multiple smaller student loans. Some are federal stafford ...
4
votes
1answer
73 views
Federal Stafford Loan deferment options?
I have a question pertaining to Federal Stafford Loans, I think it goes here, let me know otherwise.
I have several student loans, Federal Stafford Loans to be exact, and the National Guard has ...
3
votes
3answers
233 views
Under IRS rules, After what tax bracket or income range student loan interests are not effective?
Student loans generally have very low interest rates. Those interests paid work in your favor at tax time, for certain income and tax bracket group.
In the US, if you make more than what amount, ...
5
votes
1answer
136 views
Should I try to consolidate my student loans? If so, how should I do it? What traps should I watch out for?
I recently graduated with my Bachelor's degree in Computer Science. I now have student loans to pay off. I've heard that something that should be done with your student loans is consolidation, but I ...
