- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Student loan consolidation
Posted on 12/19/14 at 10:59 am to LSUFanHouston
Posted on 12/19/14 at 10:59 am to LSUFanHouston
Ive heard only bad thing about sofi. good to hear otherwise. I cant tell if the reviews are made up or not. Most say they got denied and have excellent credit and plenty of income, they take forever to apply, and are just stealing info.
One thing to consider for federal loans if you go private, is you will lose your deferment options, Income Based Repayment, and loan forgiveness for nurses and teachers. also when you die the loan dies.
I thought you couldn't claim interest for private but I was wrong. its only 2500$ and if your adjusted income is more than 75k, you get no break.
One thing to consider for federal loans if you go private, is you will lose your deferment options, Income Based Repayment, and loan forgiveness for nurses and teachers. also when you die the loan dies.
I thought you couldn't claim interest for private but I was wrong. its only 2500$ and if your adjusted income is more than 75k, you get no break.
2
Posted on 12/19/14 at 11:00 am to Rust Cohle
Posted on 12/19/14 at 11:03 am to Rust Cohle
As far as the tax deduction for student loan interest, no difference between private and government backed.
I don't use sofi (I consolidated my loans back in 2005 and my interest rate is 1.62% fixed). But I have friends and clients who have applied. It seems like the reject rate is pretty high - you have to have really good credit and stable income.
BUT... for those few people that have made it through... they absolutely love it. They say the service is great. Most of them did save at least a couple of points in interest.
I don't use sofi (I consolidated my loans back in 2005 and my interest rate is 1.62% fixed). But I have friends and clients who have applied. It seems like the reject rate is pretty high - you have to have really good credit and stable income.
BUT... for those few people that have made it through... they absolutely love it. They say the service is great. Most of them did save at least a couple of points in interest.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News