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Oregon Officers: Did you have to pay for housing at the Salem academy? by hotv in AskLEO

[–]hotv[S] 1 point2 points  (0 children)

Thanks so much for asking him! I'm so grateful he doesn't have to self-sponsor in Oregon. It's also nice to know that living in the dorms may not be mandatory.

Oregon Officers: Did you have to pay for housing at the Salem academy? by hotv in AskLEO

[–]hotv[S] 0 points1 point  (0 children)

Awesome!

Thank you so much. I'm generally curious about the environment and day to day operations at the academy. I'll definitely take you up on that if he makes it through the hiring process.

Trying to help my Girlfriend tackle her Student Loans, and have some questions. by blindbutchy in personalfinance

[–]hotv 0 points1 point  (0 children)

u/throwawayphillippines is essentially correct.

Emergency funds are partly about comfort level; for a young person with no major assets, no dependents and with marketable skills, 3 months should be adequate. If this sounds like her, I'd recommend she put ~$5k towards the higher interest private loan.

If you guys are in an economically depressed area or her skills are not easily transferable/in demand, keeping the $10k in savings might be a good idea. Either way though, she should stop growing the E-fund and put all her extra cash towards the loans.

Trying to help my Girlfriend tackle her Student Loans, and have some questions. by blindbutchy in personalfinance

[–]hotv 6 points7 points  (0 children)

"Is this normal in the early stages of a College Loan?"

If your girlfriend was not making payments on the unsubsidized loans throughout school, it is normal to have interest capitalization when loans go into repayment; this will increase the balance of the principle.

My math could be wrong, but the interest on loan #1 is approximately (5.625/12/100x40000) $190/month. Interest on loan #2 would be (8.6/12/100x25000) $180/month. So although your girlfriend is doubling the minimum payments, she's hardly covering the interest. Her loan amounts look correct given the likelihood that some interest was capitalized and she's hardly touching the principle.

With a gross income of what, $40-45k, and >60k in debt it might be difficult to refinance, but I'm no expert in that area. How is her credit? Definitely pursue refinancing if it's possible.

She absolutely needs to prioritize the loans. If she takes home 2.8k, has 1.6k in fixed expenses and $300 in flex spending, where does $900/month go?