I just started college this august, My parent's and a small scholarship I received from high school helped me paid for my first semester. How do I know if I have student loan debt and where should I go to look at my information about these kind of stuff. what should I do to avoid getting in debt. I know I really am naïve about these stuff but I really wanna learn more about these topics. I am gonna be a first gen college grad if I graduate, my family knows a little thing or two about these kinds of stuffs since they don't really went to college.
@@jamaglaqui3912 Hi, if you have student loans they're either with a private lender or the federal government. It sounds like you didn't take any out but our blog should be helpful for you to figure out which types of loans, if any, you should take out. www.studentloanplanner.com/blog/
I have a two year old car loan and a 10 year old student loan. In two years the car loan has been halved. In 10 years the student loan just made it to half. Based on the video, is it correct to assume that I was doing the habitual forbearance and too many times allowed the interest to capitalize? I just don’t see any other reasons as to why my car loan has gone down quick but my student loans are like turtles. Any other reasons this could be?
got so scared everyday thinking of how to pay my wife's loan, then I encountered a professional broker who proposed a daily passive income as Crypto investment and I jumped on it. I earn $900 daily of my total Investment and no capital lost.
So I have 10 student loans in total. Planning to pay them all off in the next few months. How should I prioritize them. Biggest loan or the loan with the most interest built up? Was just curious. Thank you.
If you're trying to optimize your repayment and pay the least interest, then go with the loan with the higher interest. This is called the avalanche method. If you need to see progress (psychological wins) then go with the smaller loan amount. This is called the snowball method. You may also look into refinancing if you're aggressively paying down your debt amount. It may help secure a lower interest rate after the payment freeze ends for federal student loans. Some reads below if interested. www.studentloanplanner.com/refinance-federal-student-loans/ www.studentloanplanner.com/good-time-refinance-student-loans/
Travis, If I've got a Parent Plus loan, and my kid or me, goes back to school, we qualify for an In-School Deferment. Will interest capitalize on an In-School Deferment?
During any period when you’re not required to make payments, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due. More info here: studentaid.gov/understand-aid/types/loans/plus/parent We also have several blogs that may be helpful regarding Parent PLUS loans: www.studentloanplanner.com/category/parent-plus-loans/
Does the REPAYE subsidy apply to everyone on the REPAYE program or is there an income limit that if you make over a certain amount you don’t qualify for the subsidy? Is it 50% in perpetuity? Is this calculated for you automatically on your taxes or do you have to tell your accountant? Thank you for the video!
Hey, great video! I have a question. If I attend 2 years of community college in California for free and then transfer to complete my bachelor's after 2 years can I still take out federal student loans when I am in community college even though tuition is free? I want to take out federal student loans for my pilot training instead of a high-interest personal loan. Thanks in advance!
That'll ultimately depend on your school's financial aid and if you've routinely applied to studentaid.gov/. This blog of ours may also help here: www.studentloanplanner.com/what-can-student-loans-be-used-for/.
What are your biggest questions about student loan interest?
I just started college this august, My parent's and a small scholarship I received from high school helped me paid for my first semester. How do I know if I have student loan debt and where should I go to look at my information about these kind of stuff. what should I do to avoid getting in debt. I know I really am naïve about these stuff but I really wanna learn more about these topics. I am gonna be a first gen college grad if I graduate, my family knows a little thing or two about these kinds of stuffs since they don't really went to college.
@@jamaglaqui3912 Hi, if you have student loans they're either with a private lender or the federal government. It sounds like you didn't take any out but our blog should be helpful for you to figure out which types of loans, if any, you should take out. www.studentloanplanner.com/blog/
Thank you for being the first person to explain this clearly
How did this become so Byzantine
I have a two year old car loan and a 10 year old student loan. In two years the car loan has been halved. In 10 years the student loan just made it to half. Based on the video, is it correct to assume that I was doing the habitual forbearance and too many times allowed the interest to capitalize? I just don’t see any other reasons as to why my car loan has gone down quick but my student loans are like turtles. Any other reasons this could be?
got so scared everyday thinking of how to pay my wife's loan, then I encountered a professional broker who proposed a daily passive income as Crypto investment and I jumped on it. I earn $900 daily of my total Investment and no capital lost.
He is Licensed and Regulated by Finra. Look him up on
lG
gary randall trading
So I have 10 student loans in total. Planning to pay them all off in the next few months. How should I prioritize them. Biggest loan or the loan with the most interest built up? Was just curious. Thank you.
If you're trying to optimize your repayment and pay the least interest, then go with the loan with the higher interest. This is called the avalanche method. If you need to see progress (psychological wins) then go with the smaller loan amount. This is called the snowball method. You may also look into refinancing if you're aggressively paying down your debt amount. It may help secure a lower interest rate after the payment freeze ends for federal student loans. Some reads below if interested.
www.studentloanplanner.com/refinance-federal-student-loans/
www.studentloanplanner.com/good-time-refinance-student-loans/
Do refinanced federal loans with a private lender have interest that accrues as well instead of compound, or is this just for federal loans?
It varies depending on your lender and the terms of your loan. Generally, it accrues and does not compound
Travis,
If I've got a Parent Plus loan, and my kid or me, goes back to school, we qualify for an In-School Deferment. Will interest capitalize on an In-School Deferment?
During any period when you’re not required to make payments, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due. More info here: studentaid.gov/understand-aid/types/loans/plus/parent
We also have several blogs that may be helpful regarding Parent PLUS loans: www.studentloanplanner.com/category/parent-plus-loans/
Excellent video
I just feel so poor. Lol what a scam.
Does the REPAYE subsidy apply to everyone on the REPAYE program or is there an income limit that if you make over a certain amount you don’t qualify for the subsidy? Is it 50% in perpetuity? Is this calculated for you automatically on your taxes or do you have to tell your accountant? Thank you for the video!
Based on your income, basically if your required payments are larger than the interest, you don't qualify anymore.
lovely video
amazing content
Hey, great video! I have a question. If I attend 2 years of community college in California for free and then transfer to complete my bachelor's after 2 years can I still take out federal student loans when I am in community college even though tuition is free? I want to take out federal student loans for my pilot training instead of a high-interest personal loan. Thanks in advance!
That'll ultimately depend on your school's financial aid and if you've routinely applied to studentaid.gov/. This blog of ours may also help here: www.studentloanplanner.com/what-can-student-loans-be-used-for/.