I hate these dill holes. I've always been in charge of finances for our house and part of that is making the blood sucking payments on these seemingly never ending 6.8% blood sucking loans.
Never missed a payment, never been late, never underpaid, etc etc etc. They're making a killing on my wife, but c'est la vie. At least she has a job and can pay them.
Last month I paid one off, fully. (Humble brag, nbd but kbd) Just typed in the balance left and hit the send button (along with making payments on a bunch of other ones).
Log in to myfedloan.org to take/make the monthly reaming/payment and lo and behold there is a $3.88 balance on the loan that was paid off and there is a negative 162.xx in the auto fill. Not knowing what would happen if I just submitted it like that, I called to find out.
Big mistake.
Despite having all the information (acct#, SSN, dob, security question answers, etc), as soon as I explained the situation, they locked down the online acct and hung up on me. WTF.
Now, I have to call back and pretend to be my wife so that I can get the acct unlocked. What a joke. Anyone have a place they use to get loans to pay off student loans at a better rate?
myfedloan
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- "I could totally eat a pig butt, if smoked correctly!"
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- Swirls
- gone fission
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Re: myfedloan
A few years ago we refinanced my wife's student loans with SoFi. She had about 6 different loans ranging from 4% to 10%, and we now have one consolidated loan at like 5% or 6% for a 10 year loan. Still have like $65,000 to pay off though (October-ish 2024 would be the final payment). Saved us like $200/month.
- lukethedrifter
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Re: myfedloan
I am at the other end of this tunnel, trying to figure out how to keep from saddling my daughter with $60K plus in loans. I'm hoping for the Naval Academy.
- Swirls
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Re: myfedloan
My wife graduated over $80,000 in debt... For a four year degree.lukethedrifter wrote:I am at the other end of this tunnel, trying to figure out how to keep from saddling my daughter with $60K plus in loans. I'm hoping for the Naval Academy.
- lukethedrifter
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Re: myfedloan
Public or private uni?Swirls wrote:My wife graduated over $80,000 in debt... For a four year degree.lukethedrifter wrote:I am at the other end of this tunnel, trying to figure out how to keep from saddling my daughter with $60K plus in loans. I'm hoping for the Naval Academy.
Not interested in that scenario if at all possible.
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Re: myfedloan
At what point is college not worth it? I'd say it's pretty damn close to being 60k in debt for it. I get doing what you want to do with a living but if I could got back to my 18 year old self I'd tell him to get paid because that's way better than doing what you want to do and not getting paid. I wasted a lot of good years in my 20s eeking by with a student loan payment and a job I liked but just got me by. I can see 60k in loans if you expect to land 100k job out of school but if it's going to take 10-20 years to pay off a loan it's not worth it. It's too much of a hit financially and it probably kicks the can of saving for retirement too far down the road too. Couple that with our screwed medical system and it's just too much giving other people your money for my liking.
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Re: myfedloan
As has been discussed on here, there's a lot of pressure to go to college (obviously) and major in/study a program that has a clear cut profession (maybe not so obviously). If a person goes to school to be, let's say, an accountant, then there's a very real possibility they end up with a job making $40k+ out of school and $100k+ down the road. It's at least a sound business decision (at the ripe age of 18 years old) spending $60k on an education then.
But is that what we want college to be? An institution that is drifting away from critical and creative thinking towards a more strict ABC curriculum designed to land an ABC career?
My cousin graduated with a bs in finance, I think, from Indiana but has had a very difficult time getting a job fitting his skillset. Currently he's the manager at a dicks sporting good store which pays the bills, but he's not loving it. Regardless, it's the type of risk that kids have to take if they want to go down the more liberal arts side of the curriculum...finding a job for which their major did not directly prepare them.
I'm sure some can quote the numbers showing the difficulty young adults are having landing full time appropriate positions out of college.
But is that what we want college to be? An institution that is drifting away from critical and creative thinking towards a more strict ABC curriculum designed to land an ABC career?
My cousin graduated with a bs in finance, I think, from Indiana but has had a very difficult time getting a job fitting his skillset. Currently he's the manager at a dicks sporting good store which pays the bills, but he's not loving it. Regardless, it's the type of risk that kids have to take if they want to go down the more liberal arts side of the curriculum...finding a job for which their major did not directly prepare them.
I'm sure some can quote the numbers showing the difficulty young adults are having landing full time appropriate positions out of college.