All Questions
11
questions
2
votes
2
answers
515
views
How long do I have to pay back a 401(k) loan?
I have a loan taken out on my 401k through Fidelity. The loan originated on this date: 12/19/2017. I will be leaving my current workplace and moving to a new workplace that uses John Hancock 401k.
...
- 67
2
votes
1
answer
95
views
Pay off loan with MESP 529?
I made a bad decision and took a 401k loan last year. I question whether I could pay off the loan with a 529 account I have through Michigan education savings plan. I would not be pulling any money ...
- 67
2
votes
1
answer
445
views
How does Sallie Mae calculate its payment?
Short Version
Can anyone figure out how Sallie Mae comes up with its personal loan payment amount?
Long Version
I have a friend who took out a personal loan with Sallie Mae, and their payment ...
- 123
6
votes
2
answers
2k
views
Is there any loan forgiveness or help for a large Federal parent student loan?
If a parent has a federal student loan for her child's education of over 100 thousand dollars, and she is having trouble paying off, is there any sort of forgiveness, or help?
- 61
1
vote
1
answer
76
views
Are there any regulations regards end of loan payment procedures?
When I was a student, one of my student loans was a Federal Perkins Loan. I was done paying the loan fully about 5 months ago. Since then I called couple times to the university asking about it, and ...
- 742
3
votes
1
answer
531
views
Student Loans: Income-based repayment & income tax bomb
Situation: I have a pretty sizable student loan burden ($150,000 with 6% interest), where I can't afford the regular payments (about $2000/month) with my current salary ($60,000) at job I'm starting ...
- 31
3
votes
2
answers
1k
views
Tackling an obscene amount of student loans
So, in my journey to get to where I am today, I spent a good 7 years getting a Master's degree. This, of course, led me down the path of student loans.
Currently I sit at just over 100k in student ...
- 1,594
4
votes
1
answer
2k
views
Is the repayment of monies loaned to my company considered income?
I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
- 41
0
votes
1
answer
3k
views
Are 401K loan repayments considered tax deductible?
I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am ...
- 1
0
votes
1
answer
204
views
When should I reduce my student loan payments in order to save up for a down payment on another loan?
I'm currently paying off a little over $13,500 of student loans, at a rate of $300 a month and accrues approximately $60 of interest each month. My bi-weekly take-home salary is approximately $1,350 (...
- 4,374
1
vote
2
answers
1k
views
I have a loan with a 6.5% interest rate. Should I divert money into my 401(k) instead of prepaying?
I have a loan with a fixed 6.5% interest rate, with an absurdly low minimum payment, so I have been paying extra each month (about enough so that the loan will have a 10-year repayment lifetime ...
- 1,299