Is there a reason to *not* apply for SAVE? (New student loan thing) From what I can discern, applying for SAVE means your interest will never continue to accrue as long as you make your monthly payments. Am I understanding that right? The other thing though is I can’t find out if, since it’s based on income, if this could increase my monthly payments. Anyone else looking into this? SAVE Info submitted by …

You Can Apply Now to Lower Your Monthly Student Loan Payment The ultimate fate of student loan debt has been up for debate in recent months, but many borrowers restarting payments in October after three years may end up with a lower monthly bill than they had before. Read more…

Will not having multiple types of credit, like a car loan, hurt my rate for a mortgage loan? Already have good credit I have a used toyota corolla that works fine and will last 6 years from now when I plan to buy my first house. But my only form of credit currently and for the next 6 years will be credit cards, is this a bad thing? I don’t want that to hurt my chances at a good rate for my house loan or lower the amount. I can afford to get a new Toyota Corolla…

Should I pay off my student loans before the student loan interest resumes on Sept 1st? I just received an email informing me that student loan interest is beginning Sept 1st. I have enough saved up from the past few years where I can afford to payoff the lumpsum amount and not have to worry about them, it would just take a chunk of my savings but I think it would be beneficial overall to not have to pay back the loans with interes…

What to Know About the New Student Loan Repayment Plan The Biden administration’s new income-driven repayment plan, SAVE, will reduce payments for millions of borrowers and more will qualify for $0 payments.

Have you taken a loan or plan on taking a loan to grow your business? If so, I think youll enjoy this. Im surprised this tweet hasn’t been posted here yet but I figured I would share because based on what this guy Bill D’Alessandro says it seems like a lot of store owners are being ripped off. Listen, I’ve never looked at the loans from the companies he mentioned but if what he says is true, its worth making sure you understand this before taking…

What to do about upside down car loan? A few years ago, I bought a different car as the one I had was getting too rusty to safely last much longer and still be reliable too. I got the same model, just 4 years newer as the previous one has never given me a single problem. Despite the new one being structurally and mechanically exactly the same car, it started having major problems by …

Should I take out a student loan for my wife’s masters. I am 25 and make $90k salary with inconsistent bonuses but I will make about $120k this year. My wife is 24 and in the second year of her masters. She works part time and makes around $20/hr while in school. We live around a large city Our money is completely shared. Our rent is currently around $1600, due to rates rising will probably be closer…

Should I be paying off my student loan asap? I have a student line of credit that I have been making interest payments on the last couple of years while I have been in school. Since I graduated I have been making minimum payments each month widdling it down. I’ve been graduated for 3 years now and make ~$80k/year. There is $8,948.35 left to pay on the loan. I pay ~$90 per month as my minim…

Trading a car with unsecured personal loan. My girlfriend bought a car with an unsecured personal loan about a year and a half ago. Since she bought it, about a third of the time it’s either been in the shop or I’ve been working on it. Meanwhile, my cars running fine being 10 years older and with 75,000 more miles. Anyway, she still owes close to $4,700 on a $5,500 loan with a 24.99% inte…

What’s the catch to a 401k loan? A couple of my coworkers have taken out 401k loans this year and they all seem to think there’s zero negative downside to it since you pay back interest to yourself? Is there a catch to taking out a 401k loan besides having to pay it all back if you lose your job? submitted by /u/Doodoonole

What student loan rate is worth paying off Hey all, apologize if this has been asked recently, but I imagine this topic is on a lot of people’s minds with student loans coming due next month. If you had a scale of student loans ranging from 3-7% and had the income/savings to lump sum pay them, what would you do? My current strategy is to pay off the 6 and 7% loans and leave the 3/4% loan…

As Student Loan Payments Resume, Gen X Struggles to Save for Old Age The end of the payment pause means Americans in this age group will once again have to juggle paying off debt while trying to save for older age.

Student loan strategy: extended payment plan vs new SAVE plan My wife and I currently have $160k in student loans, and originally setup the extended payment plan which translates to $1,000 a month minimum payment. Given daycare cost for upcoming kids, we were considering changing to the SAVE plan to lower the monthly payment. We file taxes married jointly, and make $140k combined. We were considering chang…

Student Loan Assistance – pay down in lump sum or monthly payments Hi Reddit Squad, Hoping to get some thoughts on this prior to student loan interest kicking back in. I am 32M, married (30F). My wife’s job is stable and so is mine— both with growth potential. Together we make 250k+/ year before taxes. We own a home and mortgage payments are 20% of our monthly income. We were very fortunate to save some mone…

Withdrawing from 401k to pay 401k loan? I recently lost my extremely secure job due to a very bizarre situation involving retaliation, and have a pending lawsuit that will likely end in me getting a potentially large settlement. My entire 401k balance is vested. I had about 100k in it, but had to take about 40k out for an emergency situation last year. I have the option to continue pa…

Should I just say “F* It” and pay off my car loan? I am in a situation to be completely debt free by paying off my car loan, and I’m having trouble deciding what is the right thing to do. I feel it may be beneficial to just pay the loan every month and keep the cash on hand in my brokerage or HYSA. What do you think I should do? Below is my situation: $10,500 left on a car loan, 2.49% Interest R…

Do you think I could qualify for a loan on this house? I’m 27 and currently live with my parents. I have no credit. And no payment history. I don’t pay for utilities or my phone or anything directly. I just pay my parents a certain amount each month for living expenses and then they pay bills. I’ve never paid bills. Not that I couldn’t… I just haven’t had to. I make $58,000 a year before taxes (abou…

Student loan payments resuming and I have just enough savings to pay. What should I do? Hi all, Here’s a breakdown of my situation: 24 y/o Net about $5200 a month in income Don’t pay rent $25k in student loans under Parent PLUS: $19k of that at 7% interest, the rest at 5% $10k in student loans under my own name: Federal loans that were subsidized – not sure what the rate is here but should be very low around $36k in savings to my …

Help with refinancing/new auto loan I have a 690 credit score and cant get approved for a personal loan for less than 24% interest rate. I have 8000$ (4000 left on loan 4000 credit card) in total debt. If i wait 10 months i can borrow from retirement and pay off completely but i would like to avoid touching that money. Im also planning on buying a vehicle soon. I would like to tak…