What Loan company will take over my federal student loans when the loans are in default?
Q. What Loan company will take over my federal student loans when the loans are in default so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company. I am at the point where I can't get a federal student loan until I pay this off.
Asked by Dat_1_Chiq - Tue Aug 26 09:58:19 2008 - - 3 Answers - 1 Comments
A. When your federal educational loans are in default, you have several options: You can repay the loan in full. You can negotiate a new payment plan with your lender. You can "rehabilitate" your loan. You can consolidate your loan. Obviously option one is rarely attractive or possible for defaulted borrowers. Option two (renegotiate) should be investigated fully - most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your… [cont.]
Answered by NotAnyoneYouKnow - Tue Aug 26 11:15:17 2008
Q. What Loan company will take over my federal student loans when the loans are in default so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company. I am at the point where I can't get a federal student loan until I pay this off.
Asked by Dat_1_Chiq - Tue Aug 26 09:58:19 2008 - - 3 Answers - 1 Comments
A. When your federal educational loans are in default, you have several options: You can repay the loan in full. You can negotiate a new payment plan with your lender. You can "rehabilitate" your loan. You can consolidate your loan. Obviously option one is rarely attractive or possible for defaulted borrowers. Option two (renegotiate) should be investigated fully - most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your… [cont.]
Answered by NotAnyoneYouKnow - Tue Aug 26 11:15:17 2008
What Loan company will take over my federal student loans when the loans are in forbearance?
Q. What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company.
Asked by Dat_1_Chiq - Tue Aug 26 09:53:30 2008 - - 1 Answers - 2 Comments
A. No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
Answered by Found-1 - Tue Aug 26 11:31:31 2008
Q. What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company.
Asked by Dat_1_Chiq - Tue Aug 26 09:53:30 2008 - - 1 Answers - 2 Comments
A. No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
Answered by Found-1 - Tue Aug 26 11:31:31 2008
What kind of loan can I get to consolidate private student loans?
Q. I have $100,000 in private student loans from two lenders. The interest rate is over 10%. Is there a way to get another loan to pay this off at a lower interest rate? What kind of debt consolidation program should I consult? Most student loan companies only deal with Federal loans it seems. I keep seeing ads for mortgage loans with low monthly payments-- is there something similar I could get for a personal loan? THANKS!
Asked by bbrrpf - Wed Feb 21 16:54:14 2007 - - 2 Answers - 0 Comments
A. You know what my answer to this problem is? I am joining the Marine Corps. I'm gonna be programming. There are plenty of different jobs in the Corps other than just killing ppl. So if I were you I'd go to marines.com and search for your nearest recruiter to see what they could do for you. What do you have to lose by talking to a recruiter. Nothing.
Answered by marinehacker202 - Wed Feb 21 17:04:04 2007
Q. I have $100,000 in private student loans from two lenders. The interest rate is over 10%. Is there a way to get another loan to pay this off at a lower interest rate? What kind of debt consolidation program should I consult? Most student loan companies only deal with Federal loans it seems. I keep seeing ads for mortgage loans with low monthly payments-- is there something similar I could get for a personal loan? THANKS!
Asked by bbrrpf - Wed Feb 21 16:54:14 2007 - - 2 Answers - 0 Comments
A. You know what my answer to this problem is? I am joining the Marine Corps. I'm gonna be programming. There are plenty of different jobs in the Corps other than just killing ppl. So if I were you I'd go to marines.com and search for your nearest recruiter to see what they could do for you. What do you have to lose by talking to a recruiter. Nothing.
Answered by marinehacker202 - Wed Feb 21 17:04:04 2007
Student loans have to start being paid off 6 months after you graduate. What if you continue to law school?
Q. I'm planning on going to law school after I graduate from a 4-year college. I'm just wondering if I'll have to start paying back my student loans after 4-year college, or after I graduate from law school? P.S. I'm just doing some preliminary checks on student loans in general, I'm a senior in high school and I'm just thinking ahead.
Asked by jlbilby - Fri Aug 14 11:25:56 2009 - - 2 Answers - 0 Comments
A. j: As long as you remain a full-time student, you will continue to qualify for "in-school deferment". You won't have to begin paying your loans back until you finish law school. The only requirement is that you remain registered at least half-time at an eligible institution, and that you don't take more than 6 months off at any time during your schooling. By the way - this is an automatic feature of government-backed student loans (Stafford/Perkins/PLUS), but it is not necessarily characteristic of all private loans. Also remember that the in-school deferment requires attendance at an "eligible" school. Some students have pursued law or medical degrees at foreign universities, only to discover that some of these schools are not… [cont.]
Answered by NotAnyoneYouKnow - Fri Aug 14 11:34:52 2009
Q. I'm planning on going to law school after I graduate from a 4-year college. I'm just wondering if I'll have to start paying back my student loans after 4-year college, or after I graduate from law school? P.S. I'm just doing some preliminary checks on student loans in general, I'm a senior in high school and I'm just thinking ahead.
Asked by jlbilby - Fri Aug 14 11:25:56 2009 - - 2 Answers - 0 Comments
A. j: As long as you remain a full-time student, you will continue to qualify for "in-school deferment". You won't have to begin paying your loans back until you finish law school. The only requirement is that you remain registered at least half-time at an eligible institution, and that you don't take more than 6 months off at any time during your schooling. By the way - this is an automatic feature of government-backed student loans (Stafford/Perkins/PLUS), but it is not necessarily characteristic of all private loans. Also remember that the in-school deferment requires attendance at an "eligible" school. Some students have pursued law or medical degrees at foreign universities, only to discover that some of these schools are not… [cont.]
Answered by NotAnyoneYouKnow - Fri Aug 14 11:34:52 2009
What types of loans are out thier for first time home owenrs with good credit?
Q. What types of loans are out thier for first time home owenrs with good credit? The place that I want to buy is about $185 can I still get a zero down loan? If not what is the next best thing?
Asked by JJ - Mon Mar 31 10:52:34 2008 - - 3 Answers - 0 Comments
A. JJ I would be very careful asking for help with your financials on this venue. What you are most likely to get are solictations, like you've already gotten. Do business with local lenders. Should something go wrong at least you can visit them to make sure they correct it. As for the actual question, FHA and USDA have good programs, the VA as well especially if you were wounded. Best of luck!
Answered by Alterfemego - Mon Mar 31 11:29:57 2008
Q. What types of loans are out thier for first time home owenrs with good credit? The place that I want to buy is about $185 can I still get a zero down loan? If not what is the next best thing?
Asked by JJ - Mon Mar 31 10:52:34 2008 - - 3 Answers - 0 Comments
A. JJ I would be very careful asking for help with your financials on this venue. What you are most likely to get are solictations, like you've already gotten. Do business with local lenders. Should something go wrong at least you can visit them to make sure they correct it. As for the actual question, FHA and USDA have good programs, the VA as well especially if you were wounded. Best of luck!
Answered by Alterfemego - Mon Mar 31 11:29:57 2008
How will student loans affect my credit check with the Transportation Security Administration?
Q. Just graduated (with loans), and am in the application process with TSA. I wanted to know if my loans will affect my credit check negatively.
Asked by Tim G - Tue Sep 15 00:18:10 2009 - - 3 Answers - 0 Comments
A. Like the others said, if you are current on your payments, or are in a deferral or similar situation, the loans will be on your credit report as open accounts, but will reflect positively.
Answered by tigerlily8079 - Tue Sep 15 00:54:39 2009
Q. Just graduated (with loans), and am in the application process with TSA. I wanted to know if my loans will affect my credit check negatively.
Asked by Tim G - Tue Sep 15 00:18:10 2009 - - 3 Answers - 0 Comments
A. Like the others said, if you are current on your payments, or are in a deferral or similar situation, the loans will be on your credit report as open accounts, but will reflect positively.
Answered by tigerlily8079 - Tue Sep 15 00:54:39 2009
How do they process your student loans when you almost at your borrowing limit?
Q. I have around $4500.00 left in student loans, and I have two semester left of college. In the fall, I am taking 15 hours, but in the spring I am only taking six. Will they offer the remaining of my loans for the fall semester, and I can use my pell grant for the spring or will they split the remaining loans between the two semesters?
Asked by Southerngirl29 - Sat Jun 28 13:20:07 2008 - - 1 Answers - 0 Comments
A. Chances are they will split the remaining loans between the two semesters, at least my college does. hope this helps
Answered by ilovedietcokealot - Sat Jun 28 17:35:17 2008
Q. I have around $4500.00 left in student loans, and I have two semester left of college. In the fall, I am taking 15 hours, but in the spring I am only taking six. Will they offer the remaining of my loans for the fall semester, and I can use my pell grant for the spring or will they split the remaining loans between the two semesters?
Asked by Southerngirl29 - Sat Jun 28 13:20:07 2008 - - 1 Answers - 0 Comments
A. Chances are they will split the remaining loans between the two semesters, at least my college does. hope this helps
Answered by ilovedietcokealot - Sat Jun 28 17:35:17 2008
How do construction loans work?
Q. My husband and I are working with a builder of a subdivision we are planning on building in. We chose a home from the options this builder has for the sub. To get started on the house, we need to give him $5,000 down. However we do not have the funds saved so we are able to do a construction loan. I've heard so many things about construction loans and how the fees are horrible. Yet, its been so hard for me to find any information. Would the fees be that steep, even though we only need $5000 down? Is there any specific banks/companies out there that make this process easier that anyone would recommend? Any help or information would be greatly appreciated. Thank You!
Asked by amber - Thu Aug 16 13:15:30 2007 - - 3 Answers - 0 Comments
A. It doesn't sound like you are being required to get a construction loan. The builder is asking for an earnest money deposit. Typically, builders require $5,000 to start the home and would ask for an additional 5 or 10 during different phases of the project. If they are going to build something to your specifications, they want you to have enough money into it so you don't back out. The only financing you will need is a normal mortgage, once the house is complete. You will be able to use the money given to the builder as the down payment. Otherwise, you can buy the model.
Answered by RickRN - Thu Aug 16 13:53:54 2007
Q. My husband and I are working with a builder of a subdivision we are planning on building in. We chose a home from the options this builder has for the sub. To get started on the house, we need to give him $5,000 down. However we do not have the funds saved so we are able to do a construction loan. I've heard so many things about construction loans and how the fees are horrible. Yet, its been so hard for me to find any information. Would the fees be that steep, even though we only need $5000 down? Is there any specific banks/companies out there that make this process easier that anyone would recommend? Any help or information would be greatly appreciated. Thank You!
Asked by amber - Thu Aug 16 13:15:30 2007 - - 3 Answers - 0 Comments
A. It doesn't sound like you are being required to get a construction loan. The builder is asking for an earnest money deposit. Typically, builders require $5,000 to start the home and would ask for an additional 5 or 10 during different phases of the project. If they are going to build something to your specifications, they want you to have enough money into it so you don't back out. The only financing you will need is a normal mortgage, once the house is complete. You will be able to use the money given to the builder as the down payment. Otherwise, you can buy the model.
Answered by RickRN - Thu Aug 16 13:53:54 2007
How do I get loans to go to school without a cosigner?
Q. After the completion of Fafsa and such, I only need $11,000 or so to pay for my upcoming freshmen year of college tuition. My parents are unwilling to sign loans for me to go and I can't guarantee that the private scholarships I've applied for will be enough to cover the remaining costs. Is there anyway at only 17 I can get loans myself or come up with the money before my freshmen year begins in august. Please help.
Asked by Georgia_Rulex91 - Wed May 6 14:56:35 2009 - - 3 Answers - 0 Comments
A. A minor cannot enter in to a legal contract, so no lender will give you a loan until you are at least 18. Even then, without a co-signer, it will be very difficult to secure a loan without equity. You will need to have a job earning more than $1,000 and to be able to prove that you can pay back the loan. You can however get a federal student loan (without a cosigner) that you will never have to pay back as long as you meet regular admission standards. Apply at Student Loan.Gov at: or - or You won't need a cosigner for a federal student loan. Be aware that the max you will be able to borrow is about 3,500 a year as a freshman. This will likely pay for your tuition and books. Best of luck to you!
Answered by Meesh - Thu May 7 05:34:22 2009
Q. After the completion of Fafsa and such, I only need $11,000 or so to pay for my upcoming freshmen year of college tuition. My parents are unwilling to sign loans for me to go and I can't guarantee that the private scholarships I've applied for will be enough to cover the remaining costs. Is there anyway at only 17 I can get loans myself or come up with the money before my freshmen year begins in august. Please help.
Asked by Georgia_Rulex91 - Wed May 6 14:56:35 2009 - - 3 Answers - 0 Comments
A. A minor cannot enter in to a legal contract, so no lender will give you a loan until you are at least 18. Even then, without a co-signer, it will be very difficult to secure a loan without equity. You will need to have a job earning more than $1,000 and to be able to prove that you can pay back the loan. You can however get a federal student loan (without a cosigner) that you will never have to pay back as long as you meet regular admission standards. Apply at Student Loan.Gov at: or - or You won't need a cosigner for a federal student loan. Be aware that the max you will be able to borrow is about 3,500 a year as a freshman. This will likely pay for your tuition and books. Best of luck to you!
Answered by Meesh - Thu May 7 05:34:22 2009
How many US auto loans and home mortgages financed by banks are out there?
Q. I'm trying to discover the # of US home mortgages and auto loans financed by banks in the US and the average value of each type of loan. It's for a school project.
Asked by khulet - Thu Aug 30 09:44:47 2007 - - 1 Answers - 0 Comments
A. Go talk to an officer at your local bank. There are many tens of millions of each, but I don't have exact data.
Answered by rhsaunders - Thu Aug 30 09:50:23 2007
Q. I'm trying to discover the # of US home mortgages and auto loans financed by banks in the US and the average value of each type of loan. It's for a school project.
Asked by khulet - Thu Aug 30 09:44:47 2007 - - 1 Answers - 0 Comments
A. Go talk to an officer at your local bank. There are many tens of millions of each, but I don't have exact data.
Answered by rhsaunders - Thu Aug 30 09:50:23 2007
What kind of Private loans should I look into?
Q. I am a full-time student, and I eventually might have to look into Private loans to help fund my college education and living expenses. What loans should I look for, and where should I look?
Asked by Jnaujo - Fri Mar 27 11:53:50 2009 - - 2 Answers - 0 Comments
A. Jnaujo: Honestly? Any kind you can get. The news is taking a long time to trickle down through the affected students, but the private educational loan market was eviscerated by the worldwide banking and lending crisis. At least 80% of the lenders who once made these loans have either folded, or are no longer accepting private loan applications. The lenders that have folded were many of the most active participants in this market - names like Astrive, Campus Door, My Rich Uncle, and NextStudent.. Other lenders have failed and been merged into other banking institutions - Wachovia is now part of Wells Fargo, but Wachovia had long since pulled out of the private educational loan market, anyway. There are a handful of major lenders who… [cont.]
Answered by NotAnyoneYouKnow - Fri Mar 27 12:35:55 2009
Q. I am a full-time student, and I eventually might have to look into Private loans to help fund my college education and living expenses. What loans should I look for, and where should I look?
Asked by Jnaujo - Fri Mar 27 11:53:50 2009 - - 2 Answers - 0 Comments
A. Jnaujo: Honestly? Any kind you can get. The news is taking a long time to trickle down through the affected students, but the private educational loan market was eviscerated by the worldwide banking and lending crisis. At least 80% of the lenders who once made these loans have either folded, or are no longer accepting private loan applications. The lenders that have folded were many of the most active participants in this market - names like Astrive, Campus Door, My Rich Uncle, and NextStudent.. Other lenders have failed and been merged into other banking institutions - Wachovia is now part of Wells Fargo, but Wachovia had long since pulled out of the private educational loan market, anyway. There are a handful of major lenders who… [cont.]
Answered by NotAnyoneYouKnow - Fri Mar 27 12:35:55 2009
What are in-school deferments in reference to student loans?
Q. I just checked my loan balance page, and it says for the two loans from undergrad, there are in school deferments for a period of time. I'm currently in school again right now, and will be for the time frame of these two loans. Does that mean, while I'm in grad school, I don't have to pay the undergrad loans? Or, is there more to it? Thanks!
Asked by judithsr - Sat Oct 18 10:23:45 2008 - - 2 Answers - 0 Comments
A. You have the idea exactly right. While you are in school the loans are still in deference (or you do not have to pay back at that time). You indicated that it will be defer(ed) while you are in grad school- that still works out fine because that means you will not be required to pay anything until at least you are out of school! I don't believe that there is anymore to it then what you posted and I hope this helps!
Answered by Motivated&Educated10 - Sat Oct 18 11:26:00 2008
Q. I just checked my loan balance page, and it says for the two loans from undergrad, there are in school deferments for a period of time. I'm currently in school again right now, and will be for the time frame of these two loans. Does that mean, while I'm in grad school, I don't have to pay the undergrad loans? Or, is there more to it? Thanks!
Asked by judithsr - Sat Oct 18 10:23:45 2008 - - 2 Answers - 0 Comments
A. You have the idea exactly right. While you are in school the loans are still in deference (or you do not have to pay back at that time). You indicated that it will be defer(ed) while you are in grad school- that still works out fine because that means you will not be required to pay anything until at least you are out of school! I don't believe that there is anymore to it then what you posted and I hope this helps!
Answered by Motivated&Educated10 - Sat Oct 18 11:26:00 2008
Is paying off defaulted loans that aren't on my credit report going to help my credit score?
Q. I owe $9,000 in student loans. They just started garnishing my wages for $500/month. The loans were from 1998 and do not appear on my credit report. The collection company told me that once they're paid off that they will appear as not in default on my credit.
Asked by Reddog - Wed Sep 26 16:47:17 2007 - - 4 Answers - 0 Comments
A. If they are garnishing your wages, that means they have gone to court and received a judgment. Those are public records and will eventually get placed on your credit report. Paying the debt off will not get a judgment removed form your reports, but it will show it was paid off. The effect to your score will be minor...judgments hurt your score badly for a few years, whether paid off or not.
Answered by Studly - Wed Sep 26 22:46:42 2007
Q. I owe $9,000 in student loans. They just started garnishing my wages for $500/month. The loans were from 1998 and do not appear on my credit report. The collection company told me that once they're paid off that they will appear as not in default on my credit.
Asked by Reddog - Wed Sep 26 16:47:17 2007 - - 4 Answers - 0 Comments
A. If they are garnishing your wages, that means they have gone to court and received a judgment. Those are public records and will eventually get placed on your credit report. Paying the debt off will not get a judgment removed form your reports, but it will show it was paid off. The effect to your score will be minor...judgments hurt your score badly for a few years, whether paid off or not.
Answered by Studly - Wed Sep 26 22:46:42 2007
How do I consolidate student loans from different lenders?
Q. I have three loans from three different lenders. Who would buy up all three of my loans and give me a decent interest rate? I have good credit.
Asked by phildarthebuildar - Sat Apr 28 14:04:39 2007 - - 2 Answers - 0 Comments
A. It's never a good idea to consolidate student loans because you are already getting the lowest loan rate available. Just pay off the smallest loan by adding payments to it and pay the minimum on the other loans... then pay off the next smallest loan until they are all done. Even if you got the same rate by consolidating, you lose, let me explain: It will increase your loan payment. This is not good b/c you will be less likely to add extra payments this way... all extra payments go on the capital... not the interest. Also, there are often hidden charges for consolidating... so check that out first. If the payment is less, then you also have a problem because that means that they have extended how long you have to pay your loa, therefore… [cont.]
Answered by babygnugnu - Sat Apr 28 14:19:44 2007
Q. I have three loans from three different lenders. Who would buy up all three of my loans and give me a decent interest rate? I have good credit.
Asked by phildarthebuildar - Sat Apr 28 14:04:39 2007 - - 2 Answers - 0 Comments
A. It's never a good idea to consolidate student loans because you are already getting the lowest loan rate available. Just pay off the smallest loan by adding payments to it and pay the minimum on the other loans... then pay off the next smallest loan until they are all done. Even if you got the same rate by consolidating, you lose, let me explain: It will increase your loan payment. This is not good b/c you will be less likely to add extra payments this way... all extra payments go on the capital... not the interest. Also, there are often hidden charges for consolidating... so check that out first. If the payment is less, then you also have a problem because that means that they have extended how long you have to pay your loa, therefore… [cont.]
Answered by babygnugnu - Sat Apr 28 14:19:44 2007
besides bank loans what are other ways to get help financially when trying to start a business?
Q. i know i can set meeting with investors and hopefully get their blessings. but what else besides loans and investors, especially since we are crawling out of this recession.
Asked by Business Affiliated - Thu Jun 4 03:00:46 2009 - - 3 Answers - 0 Comments
A. get a benefactor.
Answered by answer - Thu Jun 4 21:41:04 2009
Q. i know i can set meeting with investors and hopefully get their blessings. but what else besides loans and investors, especially since we are crawling out of this recession.
Asked by Business Affiliated - Thu Jun 4 03:00:46 2009 - - 3 Answers - 0 Comments
A. get a benefactor.
Answered by answer - Thu Jun 4 21:41:04 2009
About graduate student loans, is it possible to deduct paid interest from taxes paid later when at work?
Q. If both spouses have asked for loans , does it make any difference to make a deduction if one or both are working after they graduate ?
Asked by Nolita - Mon Oct 1 16:02:09 2007 - - 4 Answers - 0 Comments
A. The student loan interest deduction can be taken in a year you make loan payments which include interest. It can be a year in which you or your spouse are working. It does not have to be a year in which you or your spouse were a student. The maximum student loan interest deduction per tax return is $2,500. If both you and your spouse have loans, and you can control when you pay, you would want to limit the interest paid to $2,500 per year if possible. Your deduction is limited if your income is too high. If you file a joint return, you qualify for the full deduction if your adjusted gross income is below $105,000. The deduction phases out completely if your income is $130,000 or more. There is a worksheet on page 30 of the… [cont.]
Answered by ninasgramma - Tue Oct 2 09:17:28 2007
Q. If both spouses have asked for loans , does it make any difference to make a deduction if one or both are working after they graduate ?
Asked by Nolita - Mon Oct 1 16:02:09 2007 - - 4 Answers - 0 Comments
A. The student loan interest deduction can be taken in a year you make loan payments which include interest. It can be a year in which you or your spouse are working. It does not have to be a year in which you or your spouse were a student. The maximum student loan interest deduction per tax return is $2,500. If both you and your spouse have loans, and you can control when you pay, you would want to limit the interest paid to $2,500 per year if possible. Your deduction is limited if your income is too high. If you file a joint return, you qualify for the full deduction if your adjusted gross income is below $105,000. The deduction phases out completely if your income is $130,000 or more. There is a worksheet on page 30 of the… [cont.]
Answered by ninasgramma - Tue Oct 2 09:17:28 2007
Can student loan interest be used as a tax deduction if the loans are in deferment/forbearance?
Q. I know that student loan interest can be deducted. My student loans are all either in deferment or forbearance. I'm accruing interest on some of them, but I haven't actually paid any interest yet. Can I deduct the interest that accrued? Thanks!
Asked by AG - Sun Apr 13 22:04:25 2008 - - 5 Answers - 0 Comments
A. No, you can only deduct the interest when you actually pay it, not when it accrues
Answered by Judy - Sun Apr 13 22:11:05 2008
Q. I know that student loan interest can be deducted. My student loans are all either in deferment or forbearance. I'm accruing interest on some of them, but I haven't actually paid any interest yet. Can I deduct the interest that accrued? Thanks!
Asked by AG - Sun Apr 13 22:04:25 2008 - - 5 Answers - 0 Comments
A. No, you can only deduct the interest when you actually pay it, not when it accrues
Answered by Judy - Sun Apr 13 22:11:05 2008
What is the difference between Ford loans and FAFSA?
Q. I know they are both federal loans but what makes them different? I have already applied and recieved acceptance for my fafsa but will I get more money if I apply for a Ford Loan? Also will the ford loan be more expensive than FAFSA?
Asked by BookJunkie - Tue Sep 15 20:34:37 2009 - - 1 Answers - 0 Comments
A. The FAFSA is merely a FORM from which the Department of Education assesses your eligibility for Federal Financial Aid. Yes, all FEDERAL and most STATE aid in the form of either grants or loans come from that form! REPEAT: The FAFSA is a form that your FA Office will send to the DOE to see whether or not you are eligible for any grants or loans. Grants are NEED-BASED and never have to be paid back. Any LOANS you have to take out will go into repayment mode 6 months after you leave school or drop below 1/2 time.
Answered by deliriousgirl - Tue Sep 15 21:38:46 2009
Q. I know they are both federal loans but what makes them different? I have already applied and recieved acceptance for my fafsa but will I get more money if I apply for a Ford Loan? Also will the ford loan be more expensive than FAFSA?
Asked by BookJunkie - Tue Sep 15 20:34:37 2009 - - 1 Answers - 0 Comments
A. The FAFSA is merely a FORM from which the Department of Education assesses your eligibility for Federal Financial Aid. Yes, all FEDERAL and most STATE aid in the form of either grants or loans come from that form! REPEAT: The FAFSA is a form that your FA Office will send to the DOE to see whether or not you are eligible for any grants or loans. Grants are NEED-BASED and never have to be paid back. Any LOANS you have to take out will go into repayment mode 6 months after you leave school or drop below 1/2 time.
Answered by deliriousgirl - Tue Sep 15 21:38:46 2009
Is it possible to consolidate student loans that come from different banks? And how would I do that?
Q. I have undergrad student loans from one bank that I consolidated, and then graduate student loans from another bank. I am graduating in August and at that point I would like to have them all consolidated so I am not paying 3 different people each month.
Asked by KristenM - Wed Apr 9 16:12:23 2008 - - 3 Answers - 0 Comments
A. Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are… [cont.]
Answered by Shyanne - Wed Apr 9 23:19:20 2008
Q. I have undergrad student loans from one bank that I consolidated, and then graduate student loans from another bank. I am graduating in August and at that point I would like to have them all consolidated so I am not paying 3 different people each month.
Asked by KristenM - Wed Apr 9 16:12:23 2008 - - 3 Answers - 0 Comments
A. Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are… [cont.]
Answered by Shyanne - Wed Apr 9 23:19:20 2008
Are there any student loans that include the cost of paying off a car?
Q. I need to buy a new car, but I'm also planning on going to law school in Sep of 09. I'm planning on buying a modest entry level car for around 17-19km and planning to put 5000 down. However, when I go to school I wont be working and will still have payments. My question is, are there student loans available that could include the cost of paying off the remaining balance of the car at the time?
Asked by RameelRaymundo - Tue Apr 8 20:37:10 2008 - - 2 Answers - 1 Comments
A. From what I know...you can use a student loan for anything you want. My boyfriend's parents used theirs back in the day to pay for their apartment when they were living and going to school together. I'm sure it's still that way but you gotta make sure you ask first! Also make sure that it has a low interest rate so they don't screw you over after you are done with school...I've seen that happen and it's not pretty! Anyways, I hope this helps! Good luck in law school!
Answered by SusiQ - Tue Apr 8 20:46:36 2008
Q. I need to buy a new car, but I'm also planning on going to law school in Sep of 09. I'm planning on buying a modest entry level car for around 17-19km and planning to put 5000 down. However, when I go to school I wont be working and will still have payments. My question is, are there student loans available that could include the cost of paying off the remaining balance of the car at the time?
Asked by RameelRaymundo - Tue Apr 8 20:37:10 2008 - - 2 Answers - 1 Comments
A. From what I know...you can use a student loan for anything you want. My boyfriend's parents used theirs back in the day to pay for their apartment when they were living and going to school together. I'm sure it's still that way but you gotta make sure you ask first! Also make sure that it has a low interest rate so they don't screw you over after you are done with school...I've seen that happen and it's not pretty! Anyways, I hope this helps! Good luck in law school!
Answered by SusiQ - Tue Apr 8 20:46:36 2008
From Yahoo Answer Search: 'loans'
Tue Dec 15 10:03:44 2009 [ refresh local cache ]
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Red, White, and Blue Press (blog)
An income-based repayment option on federal student loans sets to aid struggling college students in repaying student debt. ...
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What are unsecured loans Unsecured loans enable you to borrow money without offering any security in return to the lender see our article on secured loans for more information about
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Hector Milla
Sat, 12 Dec 2009 10:05:06 GM
If you are experiencing more month than money, it is a very common problem. If you have run out of money before your next pay date, you may not know...
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