I know everyone else is probably freaking out, same complaint different thread but I have to say, my estimated RAP is around $848.. I make 6 figures with about 44k in loans but I have 1 dependent and she goes to private school along with other bills that comes with being an adult in this economy. I don’t have a second income. This just added a new ball of stress to my bucket. Jesus man
Posted by Deja__
10 Comments
6 figures should be able to handle $848/mo.
What is your payment on the standard plan?
My standard plan payment is significantly (~$600 less) than the RAP plan.
Sounds like you can’t afford to send your kid to a private school. You don’t need a top of the line computer for gaming. You are using afterpay on a 6 figure income. You drive a model Y when there are sedans available for around half the price.
There isn’t an issue with your student loans. There is an issue with your financial planning and over spending
All the people attacking your budgeting but nobody commenting that $848/mo is crazy??? That doesn’t sound right even with your income. Esp with $44k owed on the loan. The math ain’t mathing?
Have you looked at other plans, particularly the standard plan? Based on your loan balance I would guess that payment is lower than your RAP payment.
Consolidate and choose the 30 year option.
Where can you estimate/calculate RAP at?
You’re not alone here! I think a lot of us are in a similar position where we’d anticipated having until 2028 to clean up any other debts/obligations since we were told as much by the servicer. We’re now having to scramble to get above water sooner to make these big payments work for us. People’s judgmental comments are not helpful right now. No matter how our finances got where they are, we’re all doing our best with the present circumstances, knowing we can’t go back in time.
I’m taking on a mini side hustle at work to bring in some extra income. I’ve been working on a new plan for the remaining debt so that by July I won’t completely drown from the added $400 student loan payment (I paid much less on SAVE). Don’t listen to the judgmental folks on here. All you can do now is breathe, then go through the steps we’re all going through right now. What can you cut from the budget? How can you bring in some extra income to pay off the car/whatever else? Is there any bill that can be negotiated or lowered? I’m sure you’re thinking of all this now, but try to stay calm and focus on everything you can control. Even a lot of small changes can add up.
I’m in the same boat. There’s always something that comes up. Like car maintenance or cat yearly visit. There’s also the fact that food is so damn expensive. Only increasing with gas increases with this war. I’m prepping by being under budget by 1k for the next two months. I bet you there is going to be a whole bunch of defaulters.
🙄