As by the title, I am very confused and not sure where to start with the repaying of my student loans.
I currently have $163k in loans through Nelnet, monthly payment of $1,700+:
-Loan categories A-O (from each of the semesters?)
-Grad and undergrad loans,
-A mix of Direct Loans- Stafford Unsubzidized and Subsidized
-Direct Loan Grads
-Interest rates anywhere from 3.81-7%
I graduated this past August, and will be starting a second PRN part-time job for a second hospital, but cannot afford the $1,700 a month that Nelnet is stating that I need to start paying in March. Should I call Nelnet and try to set up a better repayment plan, should I try consolidating? I am not entirely sure where to start, and any help would be greatly appreciated!
go to Studentloan.gov/idr
Apply for an Income Driven Repayment plan.
if your income has not gone down since you last filed taxes the IRS data tool will transfer ur tax information and will electronically submit it to your servicer. if your income has gone down since 2017 tax return you can submit one pay stub from last 90 days to have the payment calculate based on the new income. if you don't get pay stubs you can self certify your income. The $1700 pymt is what you would pay for ten years so just change the plan.
Thanks for your reply! I will check it out this evening after work. I just started the first job the week of Thanksgiving, so it will not have gone up much from last year. Is the income driven repayment only for 10 years, or can I choose one of the other options?
Thanks a bunch for the help Sabii! It looks like I will still have some more research to do.
I will be working part-time in 2 non-profit hospitals, until I can get some full-time work (hopefully at one of them).