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Thank You Network - 6/5/09 Increased Points for Student Loan Rebate Archived From: Finance

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Maybe somebody can help me on this. I could possibly get $225.

All my loans are interest free Direct Stafford Subsidized loans through the government. I dont exactly have a bill until I graduate college (in a year). I asked if they could put it through to my university and they said no, it has to be a financial institution. Is there anything I can do? Or am I screwed?

So I actually have a loan, I'm a student, I actually have a bill to pay in a few days. Ideas?


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strange0kiddo said:Maybe somebody can help me on this. I could possibly get $225.

All my loans are interest free Direct Stafford Subsidized loans through the government. I dont exactly have a bill until I graduate college (in a year). I asked if they could put it through to my university and they said no, it has to be a financial institution. Is there anything I can do? Or am I screwed?

So I actually have a loan, I'm a student, I actually have a bill to pay in a few days. Ideas?

You should be able to have the check made out to the US Department of Education, even if you aren't in repayment yet. They would just apply it to principal. I'd call the US DOE first (www.dl.ed.gov will have the contact information)


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So after they removed the fixed point redemption for air tickets, is this SLR the best available option to utilize the points? thanks


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strange0kiddo said:Maybe somebody can help me on this. I could possibly get $225.

All my loans are interest free Direct Stafford Subsidized loans through the government. I dont exactly have a bill until I graduate college (in a year). I asked if they could put it through to my university and they said no, it has to be a financial institution. Is there anything I can do? Or am I screwed?

So I actually have a loan, I'm a student, I actually have a bill to pay in a few days. Ideas?

See if any of the friends who have already graduated will give you cash in exchange for a loan rebate.


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Do you think telling them my financial institution is the treasurer of my school would work?

How do the checks actually come out? So it is payable to whoever I tell them, and it is in my name?

How thorough are they in checking?


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strange0kiddo said:Do you think telling them my financial institution is the treasurer of my school would work?

How do the checks actually come out? So it is payable to whoever I tell them, and it is in my name?

How thorough are they in checking?


It's payable to the lending institution.


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thanks for the heads up.


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All this hand-wringing over student loans is kind of ridiculous. You guys don't have credit cards to pay? Just have Citi make the check out to the bank of the card, and send it to them as payment for your balance.


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Yah my school charges for credit card charges. So thats more money over interest money.

AnEnlightenedGuy said:All this hand-wringing over student loans is kind of ridiculous. You guys don't have credit cards to pay? Just have Citi make the check out to the bank of the card, and send it to them as payment for your balance.

Anyways I got my situation sorted out. Just had to call 4 people and give out my SS# and info repeatedly.


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Thanks OP!

You don't need any outstanding loans to get the SLR.
The check gets written out to the name of your school - for example "University of Illinois" or "Truman State University".

I've ordered the SLRs before when I had no loans taken out, and a zero balance with the school. After I drop the check off with the school's Financial Services people, they return that money right back to me via my checking account (because I have direct deposit set up).


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Or just do that Mocha said, I wish I saw your post!

But if you are like me and have a Direct Subsidized loan, this is how you do it. If you get mailings from the Direct Loans office, do this. If not, call FAFSA 1-800-433-3243 and they will tell you.

For people who have loans through the Direct Loans office, make the check out to the U.S. Department of Education.

Once you get the check, write your SS# on it and mail it to:

U.S. Department of Education
Direct Loan Payment Center
P.O. BOX 530260
Atlanta, GA 30353-0260


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DiMAn0684 said:newbietx said:Those who were short of the next tier and were given points by CSR to reach that level, what's the max anyone got? I'm 650 points away from the next tier, I don't think they will give me that many. I am also assuming most of you were under 100 points away from the next tier, but if you can post and let me know, that would be appreciated. Thanks!

Needed a little less than 250 and CSR wouldn't give them to me :/

Wife just cashed out and got 302 points to reach 30K...she put on her "bubbly voice"


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strange0kiddo said:Or just do that Mocha said, I wish I saw your post!

But if you are like me and have a Direct Subsidized loan, this is how you do it. If you get mailings from the Direct Loans office, do this. If not, call FAFSA 1-800-433-3243 and they will tell you.

For people who have loans through the Direct Loans office, make the check out to the U.S. Department of Education.

Once you get the check, write your SS# on it and mail it to:

U.S. Department of Education
Direct Loan Payment Center
P.O. BOX 530260
Atlanta, GA 30353-0260

You can also call US DoE up and tell them you have physical checks being sent and they will notate it on your account. Also keep in mind that if you have electronic withdrawal, this won't replace the next one, but instead just applied to your principal.


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Just called; csr commented on the high volume of SLR redemptions today. Told her friends told me about it.


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strange0kiddo said:Maybe somebody can help me on this. I could possibly get $225.

All my loans are interest free Direct Stafford Subsidized loans through the government. I dont exactly have a bill until I graduate college (in a year). I asked if they could put it through to my university and they said no, it has to be a financial institution. Is there anything I can do? Or am I screwed?

So I actually have a loan, I'm a student, I actually have a bill to pay in a few days. Ideas?
I like how SLR checks can be used for everything except student loans.


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So we can use it to pay credit card bills?


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154 points short of the next tier and rep wouldn't do anything for me

Still, pulled $150 out before the change. Thanks OP!

My rep was also surprised at the volume of SLR check requests and mentioned that the systems were slammed.


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You guys who are 10 points below the threshhold REALIZE you can BUY points - for something like $2 per point. May be worthwhile in some cases.


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tripleB said:You guys who are 10 points below the threshhold REALIZE you can BUY points - for something like $2 per point. May be worthwhile in some cases.

Buying 1 point at $2 to get money back at $0.01 a point... That's some bargain!


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Like cbrunocme, I also call to redeem some TY points, and I was told by CSR that the change won't happen until July 5th, NOT June 5th.
So I think everyone can relax a bit.


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