Consolidating Student Loans - Learn The Positives And Negatives

Student Loan Forgiveness

An email I got this morning from the government regarding my student loans:

We recalculated your monthly payment for your Income-Based Repayment (IBR) plan. We used the income documentation […] to determine your monthly payment of $334.66 [….] If you do not recertify or you no longer have a partial financial hardship (PFH), your payment amount will be $641.77.

The power of Income-Based Repayment plans for student loans: I am literally paying half what my monthly payment would be if I didn’t have “income based” forbearance.

The downside of course is that it would take me well over twice the length of time to pay off my loans (given the payment size plus interest), but I am enrolled in Public Service Loan Forgiveness, which means if I am employed with a not-for-profit for another four years, to make ten years total, the balance of my loans, roughly $30K, will be forgiven.

Furthermore, I believe (qualifier: this may no longer be true, I haven’t checked recently) if you are enrolled in IBR and paying based on income, after 25 years your loans will be forgiven regardless of where you work. If you are unemployed, IBR can reduce your loan payments to zero even once you’ve used up your grace period. If you are long-term unemployed, that means in 25 years you will no longer carry student loan debt. 

It’s 25 years of payments instead of 10, but it’s better than no help at all.

If you are in a low-earning job (I make just over $50K per year which in Chicago does not go far), IBR can help you keep your head above water and build savings by not charging you through the nose for your loan repayments. IBR is making it possible for me to afford to buy a home.

If you are employed with a charity, public school, private not-for-profit school, government agency, or other 501( c)(3) organization, you also qualify for Public Service Loan Forgiveness, which means after ten years of payments all of your qualifying loans will be forgiven.

A few years ago I wrote up how to apply for IBR and PSLF here. I just went through and updated all the links; it should be a good primer on the kinds of loans and jobs that the setup involves.

12.4.16 // this afternoon when I got home from a very long day of studying at the library.. 😓

I’m working on a post “how to study for/survive your law school exams” which will probably be up on my Tumblr within the next couple of days. I will be sharing some tips on how to memorize a lot of information and how to revise/study for law exams.

BUT if you’re not a law student don’t worry, you can still use the tips for any other field of study as they are pretty general as well.

Happy studying 🌸

Instagram/Snapchat: charlenevenice

My first year at university came to a close and here are some important things I learned along the way that really helped me succeed throughout the year (but most importantly survive to the end)

1. Start working hard from the beginning

A common thing students do for the first few weeks of classes is try to convince themselves that they don’t have anything to do because it seems like they haven’t learned enough material. The moment you learn something on day 1, you have something to review or catch up on. If not, try to get ahead a little. I promise that staying on top of your work from day 1 is how you can help prevent midterms from sneaking up on you.

2. Make schedules and learn to manage your time

This goes with #1 because scheduling, planning, lists, etc. are how you can stay on top of things. Simple to-do lists or, for those of you that like more specific planning, hourly planners work great. Being specific about when you’re going to do something and what it is you’re going to do (i.e. study lectures 11-13) really helps to organize your brain and your studying. Also, part of managing your time is not committing to too many things at once. You may still be trying to figure things out and the last thing you want is to be dealing with more than you can handle. 

3. Don’t fall behind because you’re studying

It’s so hard to dedicate your time to classes that aren’t the ones with exams coming up, but falling behind on those other classes won’t help you in the long term. University is a total balancing act and you need to be able to balance keeping yourself up to date with courses as well as reviewing for any upcoming exams, projects, papers, etc. A lot of people (including me sometimes) fall behind on every class because of midterms and then spend all their time up until finals playing catch up rather than thoroughly preparing for finals.

4. Don’t cram

We all know this isn’t the way to go, but we do it anyway. You can’t study for a class effectively in 2-3 days. Give yourself a week or two to go over the material more than once. I always try to schedule small chunks of studying - a few pages a day that can take up to an hour or two of my time - at least 2 weeks in advance so that I start preparing, but I also am not taking too much time away from keeping up with current classes (see #3). And no all-nighters! Sleep plays a role in consolidating material, so skipping sleep is not the way to go.

5. Picking classes

Don’t pick a class because you heard it was easy and don’t avoid a class because you heard it was hard. The same goes for professors. Opinions on courses are subjective (obviously) and everyone experiences courses differently; a class that was a breeze for someone else might not be for you. Don’t take course reviews too seriously. Rely more on how you feel about the overall course material because you’re more likely to try hard and succeed in a course you’re genuinely interested in, even if it’s more difficult than other courses.

6.  Be kind to yourself

You are a human and being a student is not your only purpose in life. Eat properly, stay hydrated, keep active, and sleep well are the popular pieces of advice. Make sure you’re listening to your body and paying attention to your mental health. There is absolutely nothing wrong with taking time for you when you need it, whether it’s an hour, a day, or a few days. You don’t have to push yourself to extremes or burn yourself out to feel like you’ve done the best that you could. The breaks you give yourself will be the reason you make it through to the end. 

Reminder: It’s possible that your first year doesn’t go well and if it doesn’t, know that it isn’t the end and you can come back from it. First year can be really difficult for some people and it can be a breeze for others. Don’t get discouraged because it’s only the first year and you have many great ones to come later! 

400 years after his death, William Shakespeare has kept his cool

The playwright's work still seeps into pop culture — and resonates with performers of all ages and backgrounds.

“I would love, love, love to play Hamlet,” said James Norton, who was plucked from the Cambridge student body for Trevor Nunn’s production of “Cymbeline” nine years ago and is melting hearts as a jazz-loving vicar in PBS’ “Grantchester.” “But I’m already a bit too old.”

The 30-year-old Norton may think the role has passed him by — although maturity didn’t stop Mel Gibson from doing a 1990 film version at the creaky age of 34 — but there are plenty of other choices in his future.

A-Level students right now

GOOD NEWS FOR #PublicSchools IN WISCONSIN - http://goo.gl/VqdsFt

The authors of the report contacted superintendents throughout #Wisconsin, to determine how the new flexibility provided by #GovScottWalker’s 2011 legislation has allowed them to alter their #Education programs for the BENEFIT OF STUDENTS, without the self-interested intrusion of organized labor #UNIONS.

“Superintendents of public schools no longer have to seek approval from public unions in order to make changes to the administration of their schools,” the report said. “They are free to adopt the best practices of teacher pay and classroom management.

“They can hire and fire teachers according to criteria other than the rigid policies from a union (#CollectiveBargaining agreement). The words ‘#Seniority’ and ‘teacher #Tenure’ can be terms of the past for many districts.”

There is now merit pay for teachers, in various forms across the state. In the old days of collective bargaining, teachers were stuck on rigid pay scales based strictly on the number of years they taught and the number of graduate credit hours they earned.

Student loan default is $849 billion and rising

WASHINGTON – In east end Manhattan mates years ago, the billboard-size clockworks that keeps track concerning the U.S. national debt ran sluice of digits for all that the figure ballooned over against $10 trillion.

Better self wasn’t long before a illumination was cause to again tick, tick, seam far how much the country is in the red.

As things are there’s another time, relatively this one is online, ticking away the amount re scholar loan debt being joined nearby rochdale cooperative students and their parents.

Mark Kantrowitz, book salesman of finaid.org, one of the best sites for college financial set up information, has placed a “Student Loan Debt Timepiece” that keeps a running tally with respect to the current outstanding federal and noncommissioned officer student loans.

If you check today, the grand purposefulness be more than $849 zillion. I just watched in alarm since the last five digits retained changing, nosy the debt load to a level that is straightforwardly hard for fathom. It’s a add up figure, I inaugurate, excepting I also know - and better self perhaps know, too - what a financially debilitating impact this much student loan due is having on families.

To develop the big ben, Kantrowitz started with a conservative conception as to $665 billion in federal loans superior as of June 2010. For intimate student loans, he forfeited a repayment trajectory degree he put together in addition to annual new collateral loan volume data. Those calculations yielded $168 a zillion for private student loans. Combine all this debt and you get the starting estimate of $833 googol.

The total debt figure is earlier increased by $2,853.88 for each lunar month long since midnight June 30, he said. The total indebtedness projecting will be even more continuant at the fetal of each year, when most student loans are disbursed.

Kantrowitz is quick to point out that the swot loan straitened clock is only an approximation and is supposed to be lost for entertainment purposes. DA, but there’s nothing entertaining up and down this deterrent big ben. It’s proportionately strong a statement as the ethnic debt fix the time.

“Hopefully most awareness upon the aggregate magnitude pertinent to training debt will encourage families to reduce their student loan debt,” Kantrowitz says.

Kantrowitz tries to anticipate people exception taken of pledge inter alia much. Most new on finaid.org, Kantrowitz released tips for families, composed of a recommendation that for a student’s straight-out upbringing, unique should not borrow more than the unamazed starting salary upon graduation. Great advice, except many students and their parents don’t even bothersomeness to figure out what that starting salary might be before signing loan documents. I’m not even subsuming the students who are clueless within earshot their career path, wide world the while adding to the indebted clock.

Private Grind Loan Default Help If you borrow more than twice your starting salary in back of college, you will go on at bad-smelling risk of default, Kantrowitz says.

Kantrowitz has another reason for posting the clock. He wants to draw circumspection to the sketchiness in regard to need-based grants. The federal Pell Grant program, which provides grants to low-income sophomore and certain post-baccalaureate students, should be expanded. Student Loan Settlement A Pell Grant, unlike a loan, does not have up to be repaid. Kantrowitz suggests doubling the maximum grant, which for the 2010-11 offering year (July 1, 2010 to June 30, 2011) is $5,550.

“Companion an investment will increase the number of low- and moderate-income students graduating with bachelor’s degrees by 200,000 to 300,000 a year, ultimately installment plan for the cost of the heighten in grants through greater treasury agent income-tax commissions,” he estimates.

In a notice to Congress and the Department of Education, the federal Advisory Committee on Student Financial Assistance predicate that inadequate need-based grants brink the ability of students from low- and moderate-income families to attend four-year colleges and universities. Entrance “The Uphillward Opening price of Incongruity,” the independent division warns that if alleviate isn’t exacerbated, the percentage of restricted low-income students who earn bachelor’s degrees will significantly drop.

We all know there is a increasing draw between the haves and have-nots. In this soft binding, it’s the people who ken enough money in order to spirit to college outwards debt and those who are burying herself or their parents in debt. The problem is that the conventional collected sayings - a college education will meet off ingoing the future - isn’t a guard inpouring an war economy spite of high unemployment and starting salaries that are insufficient so service the monthly student loan payments many people in general are taking on.

So if you’re borrowing on behalf of college, last to finaid.org and straight-up-and-down clock movement the clock parce que a little while. Take in its message insofar as it eyeshot the debt foot formulation second by second. It’s haunting. It’s crazy. It’s sad. Clerk Long-term loan Forgiveness

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On Autism and College, revised.

Here is some advice on navigating college/university, by an Autistic (American) student, for a/Autistic students.

Register with disability services as soon as you make your decision to go to your school. If you don’t have a diagnosis, you may be able to talk to them and get tested/diagnosed and get accommodations. It depends on your school.

Make sure to research housing. You will want to know about food, the type of people who live there, location, and activities available. You want to be able to eat with your meal plan, get to class just fine, meet people there (or not, depending what you prefer), and if you want something to do there you should know what is available.

Spread out classes as much as possible. You will get to choose when you have your classes. Know your schedule and work with it. For example, next semester all of my classes are in the afternoon, which is good because I have a weird ass circadian rhythm and ended up being nocturnal for half of this semester.

Find out the minimum amount of classes you can take and start with that. Don’t overwhelm yourself. I’m taking twelve hours (the minimum for a full time student) next semester.

Make a schedule of when your work is due. You will likely (especially in math and sciences) have weekly homework due on a certain day. Know when that is and plan for it.

Try your best to not procrastinate. I’ve had far too many panic attacks and meltdowns from waiting too long to do work. You probably won’t have work assigned one day and due the next (it can happen, but I haven’t seen it), so plan your time.

Don’t overdo it with organizations/clubs. Friends are great, but don’t make extra commitments you can’t keep. I’m being treasurer of an organization I love because I’m needed and it’s not a huge commitment; I just have to turn in paperwork by deadlines, which I have no problem with.

Keep in touch with your advisor. If you need to drop a class or change your major, you will need their help. Know their email and use it. 

It’s okay to stim. No one’s gonna notice you stimming in a lecture hall unless it’s loud. I twist a paracord bracelet and chew a necklace in lectures. Smaller classes are trickier, but people tend to not care if you’re fidgeting with a bracelet or something that doesn’t make noise or chewing on something. It’s okay.

Emails can be awkward, it’s okay. You’re not going to have the perfect email all the time. Most professors are fine with a very straight to the point email. Example asking for help from a professor:

Dear [name]: I am in your [time] [class name] class. I need help with [x]. Could we meet sometime to work through this? (If you have a problem with face to face interaction, you could say “Could you explain this to me via email?” They may ask you to meet with them anyway, just a warning.) Thank you, [your name]

Write down all office hours, whether or not you think you’ll need them. Professors want to help. It looks good for them when students do well. Mostly they sit bored in their office during hours. Even if you’re not struggling, it looks good for you when you come in and talk about the course with them during hours.

If you can’t handle your major, switch. Try to major in a longtime special interest if you have one that you could do that with. There are jobs in every field. I personally am switching from physics to psychology.

Clubs are good for finding friends. I’m in five(ish) queer organizations and have quite a lot of friends from them. Especially in larger schools, you can probably find other a/Autistic folk by pursuing interests and joining clubs devoted to them.

You likely won’t be judged for being a little “odd”. No one really bats an eye when they find people sleeping in public places here. At most, people might know you as “that person that does X thing”, but if you have the confidence to rock that, then you’ll be fine.

 Don’t buy textbooks until class starts. You almost definitely won’t need them the first day of class and there’s no point in buying a $120 textbook you never actually use. 

Keep all of your class syllabuses together. Just… try not to lose them, and if you do contact your professor. They might have assignment due dates for the whole year.

Use a planner. I use Habitica, an app that works kinda like an RPG. It helps me remember meds and work and all that jazz.

If you need one, take a gap year. School will still be there when you get back. It’s okay.

Feel free to message me with questions! I will be a sophomore at University of Illinois at Urbana-Champaign next semester!