Student Loans

[NotTooBad]

Morettis hit it on the head as far as paying with CC's.

Data - Unfortunately some of us haven't made perfect decisions our whole lives. Some of us do indeed make mistakes. For those of us who make financial mistakes there is a system in the United States called bankruptcy. If you would like to research this concept you may review it under the US Code Title 11.

Its amazing that the greatest country in the world refuses second chances to those who are indebted to court fines, child support, alimony, and student loans. Would you agree the last one belongs in this category?

I'll admit - I among others made a mistake when signing on the dotted line for this career. I just wish the "second chance opportunity" afforded to everyone else in this country were offered to those who did it in the interest of education.

 

[ualdriver]

I have excellent credit actually. I've never missed a payment.

How did you pay the student loan with a credit card? The only option I have is to use a checking account to pay the student loan. They require a routing number and account number. I asked about paying with a credit card and they said they don't accept it.

I'm going to look into consolidating the loan but I'm afraid I won't have much luck. Securing a private loan to pay off a variable interst "private student loan" over 60k is gonna prove difficult in today's environment.

These student loans are like prison.

Call them and ask for a deferment or forbearance. Lots of information on both options via Google.

 

[rfa]

Morettis hit it on the head as far as paying with CC's.

Data - Unfortunately some of us haven't made perfect decisions our whole lives. Some of us do indeed make mistakes. For those of us who make financial mistakes there is a system in the United States called bankruptcy. If you would like to research this concept you may review it under the US Code Title 11.

Its amazing that the greatest country in the world refuses second chances to those who are indebted to court fines, child support, alimony, and student loans. Would you agree the last one belongs in this category?

I'll admit - I among others made a mistake when signing on the dotted line for this career. I just wish the "second chance opportunity" afforded to everyone else in this country were offered to those who did it in the interest of education.

Well said

 

[A-V-8]

Take a job in China. Quit paying the loan. The default will fall off of your credit report in 7 years. I think that will work. Does anyone know?

 

[WWEfan]

When using CC checks I always made sure they didn't charge any fees or I just asked them to waive the fees. Most CC companies are happy to waive the fees thinking they will recoup the loss with interest.

But this game takes a lot of discipline. If you have $50k in loans you might knock off $10k of that with a CC. Now you have a $40k loan and a $10k CC. Thats 2 payments that you have to make. You could play it safe and just pay extra on the original loan without taking out a CC, but the money I saved was worth it to me.

 

[PBRstreetgang]

Don't be a puss,
"The Legionnaire is a volunteer.
Most often, he has come to the Legion to escape from his past.
Generally, he has joined because of a personal or family crisis or an upheaval in his social or political life. Striking examples of this can be found in the mass enlistment of Alsatians after 1871, of Spaniards in 1939 and of Eastern Europeans after 1945.
For others, those who are unable to deal with the limitations of a middle-class life, the Legion represents a life of adventure."
http://french-foreign-legion.com/
PBR
P.S. You will get some hair on your jewels.

 

[JustaNumber]

Any ideas on how to reduce monthly payments or renegotiate the terms of a private loan used for flight training? I took out a Key Alternative Loan and the monthly payments suck right now even with the variable interest rates being low. I can't imagine what it will balloon to when the rates start going back up. I was wondering if anyone has had any success renegotiating terms, refinancing, or consolidating a private student loan.

Sorry I don't have too many suggestions, other than you need to find ANY way to get out of the variable rate, even if it's to a significant higher fixed rate. Rates within the year WILL have to go up, and I believe by a great deal.

 

[on autopilot]

I have excellent credit actually. I've never missed a payment.

How did you pay the student loan with a credit card? The only option I have is to use a checking account to pay the student loan. They require a routing number and account number. I asked about paying with a credit card and they said they don't accept it.

I'm going to look into consolidating the loan but I'm afraid I won't have much luck. Securing a private loan to pay off a variable interst "private student loan" over 60k is gonna prove difficult in today's environment.

These student loans are like prison.

Yea like, who's the chick in your avatar? Also, bout the student loan thing, do a ch. 7 if you get in deep finacially, but you gotta convince a judge it's just a private loan, not an education loan. They may give you a hardship discharge. other than that, your stuck with it or follow the advice of some of the other posters on here.

 

[joeywoofwoof]

These days the credit card shuffle is over, transfer to 0% interest for 12 months, then transfer again- ultimately paying zero interest. That worked wonders for me a few years ago- luckily I am debt free now, minus a mortgage. but with 4.5% interest on that I'm set. Just have to discipline myself not to use cc's except during my trips, which I pay off in full every month.

 

[JettBoii]

Buy a (used) riding mower, weedeater, blower, yard gloves, small shovel and hedge trimmers. Work your arse off while you enjoy your 3 days at home. 40 bucks a yard. Work up to 5 a day for 3 days straight. 600 for 3 days work. 2400$ a month. 28K a year. Help pay your loan off. Write off all of your lawn equipment. I'm just sayin.