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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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
145 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
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3answers
148 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
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1answer
1k 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
288 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
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1answer
59 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
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3answers
4k 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 ...
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1answer
252 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
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2answers
617 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
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3answers
406 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
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2answers
267 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
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2answers
92 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
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2answers
44 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
88 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 principal vs. interest if all I know is the current balance and interest rate? How can I determine the payoff date of ...
3
votes
3answers
403 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
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2answers
239 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
150 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
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3answers
219 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
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1answer
255 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
204 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
914 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
114 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
185 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 ...
8
votes
2answers
177 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
138 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
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1answer
165 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
148 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 ...
4
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4answers
216 views

Paying loan more than the monthly limit vs keeping the extra in a bank or investment

I have a student loan (9% interest rate) which I have to pay within the next two year. Since I have a secure job I know I will finish paying within two years even with the minimum monthly payment. ...
3
votes
1answer
3k 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 ...
0
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1answer
535 views

What to do or watch out for when school loans are transfered?

I received an email today informing me that one of my student loans has been transfered (Email is below). Besides following the instructions in the email and some due diligence to make sure this is ...
12
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4answers
369 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 ...
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5answers
269 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 ...
9
votes
3answers
1k 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
110 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
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1answer
130 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?
1
vote
1answer
187 views

What does “parity” mean with regards to student loans?

I read in a newspaper that interest on part-time student loans was made the same as a full time student's loan in order to "achieve parity between part-time and full-time student loan programs" ...
2
votes
2answers
3k views

How can I pay off tuition fees from a past semester so that I can enrol in school again?

I still owe my tuition fees for a university of California school from fall 2010. I have been out of school since then with two semesters to go before I can graduate. I've been trying to take out a ...
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2answers
174 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 ...
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3answers
249 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 ...
14
votes
6answers
4k views

Should I pay off my 50K of student loans as quickly as possible, or steadily? Why?

I was an idiot in college. I basically just used student loans and got very few grants. I also spent way too much time in there. I now have two bachelor's degrees and a master's degree. About 7 ...
6
votes
3answers
363 views

Would consolidating my student loans improve my credit score?

I graduated college a few years ago and have roughly $12,000 in student loan debt left. Even though I make 1 monthly payment, the loan shows up on my credit score as 6 installment loans. When I go to ...
5
votes
1answer
76 views

Can I personally start and use a 529 college savings account?

I am still a college student, and I am currently working. I am taking out loans for my tuition costs and paying for the rest of my expenses out of pocket (from my job). Yet I was wondering if I could ...
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votes
4answers
480 views

What are my options to deal with Student Loansharks?

So I had about $16k in student loans. I defaulted on the loans, and they got passed to a collection type agency (EOSCCA). The collection agency tacked another $4k onto the loans. I spoke with a ...
5
votes
3answers
529 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
4answers
206 views

Should I pay my Education Loan or Put it in the Stock Market?

I currently have a Student loan at a 2.47% interest rate, I owe most of my home mortgage and have a minimal amount invested in the stock market (not counting retirement). I have some money that can ...
8
votes
2answers
372 views

Can I refinance my student loans?

I have student loans from graduate school with an interest rate of 6.625%. I see that interest rates are quite low. (Mortgage rates are at 4.6% for a 30 yr fixed.) So I am wondering: Is it possible to ...
9
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3answers
422 views

Our only debt is hefty student loans, should we pay the student loans off first or save for a 20% down payment on a house?

My wife and I have been working on debt for the last year and a half. We've knocked out $50k in car loans, credit cards, etc. Our only debts left are student loans. Would it make more sense to ...
6
votes
3answers
577 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 ...
6
votes
6answers
467 views

Should we prepay our private student loans, given our particular profile?

my question is: Should my wife and I prepay my private variable-rate student loans, given our particular financial profile? Or are there higher priorities to address with any extra cash we have at the ...
10
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1answer
392 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 ...