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Student Loans and Financial Aid

~6000 answered questions
Parent Category: Loans
Stafford, Perkins and personal student loans. Financial aid may consist of scholarships, grants, and work study in addition to student loans.

Subcategories

a rod doesn't go on the camshaft. Perhaps you have your terminology mixed up?
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There is a recall on the 2001 Malibu blinkers. I'm not sure exactly what had to be fixed but my Malibu was having the same problems but seem to work fine now. There is a recall on just about every late 90's to early 2000's Malibu. Even my 2000 Grand Am has the same recall! If I run the AC they …
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You get scholarships usually in high school. NBA scouts will come down to view games, and if they think you have the talent to play in college, they will pull you aside for a scholarship.
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All answers/opinions should be directed to the discussion board.
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Paying for Room and Board at College Here are some things to consider when trying to come up with a plan to pay for room and board at college: Inexpensive schools - State schools in your state are going to be less expensive than private schools and moving out of state for school. Note that often a…
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Yes you can use private student loans for anything but be sure and pay your school expenses first! Federal loans normally don't cover all of your education expenses so it will be harder to use those!
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Libraries have lots of books listing tons different scholarships. Just some of books that some libraries might have are College Board 2010 Scholarship Handbook, Peterson's Scholarships, Grants, & Prizes, The Ultimate Scholarship Book, and Scholarships: Billions of Dollars in Free Money for Colle…
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Do you mean majors, or fields of study, or types of bachelor degrees, masters...? If you mean majors or bachelor degrees, general lists can be found in college prep books (from the library, etc.). However, different colleges have different terminology and offerings, so it would be best to check with…
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There are many dentist available online who can help you.If you want to know any thing related to dental treatment please go to their contact number OR put your details in to their inquiry form. But please do not use this procedure only for entertainment, because it is harmful for those students who…
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I get 1 mil a year i am a lawyer
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Both the finance company such as G.M.A.C. or Ford Motor Credit keep record of the key codes in a folder on the sale. Contact the finance company, get the key codes, go to the selling dealership where the service department can cut the keys for about $5.00. If the vehicle is in default, the finance c…
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Soooo, what is your question? FMCC doesnt want to reaffirm your loan. Dont they have a choice? give them the car.Ask your b/k attorney about it.
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"LETTER"??? What letter do you need to get your car back? If you dont rem how much you owe, just ask them.
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No unemployment for students (at least in Michigan) If I said no unemployment for full time students, that should cover all states.As far as disability, yes, you can get disability if you have short term disability insurance. Since this is just for knee surgery, no point in saying how you could get …
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I was a university student when I married my illegal immigrant husband. It made no change in my student loans at all.
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No, if you receive an income sensitive repayment plan after consolidating and the payment is $0 because of your dependents and income, then it will not adversely affect your credit score.
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Initially, your score will only go up by 5 - 20 points, depending on the student loan balance, and whether or not you are transferring it to another lender. If the loan is in collection, you may actually lower your score by paying it off (see "Will Paying Off an Old Collection Lower my FICO Score" -…
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Yes. They are certain liabilities, which include federally guaranteed student loans, child support obligations, and unpaid tax liens, which have no expiration under statute of limitation laws.See the FCRA 15 USC section 1681c(a) and the Higher Education Act 20 USC 1080a(f) and 20USC 1087cc(c)(3).
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after 6 mos. it goes into default, and then the 7 yrs. starts, so it would be 7 yrs., 6 mos.
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Credit scores are calculated based on ALL the information in your permanent credit file. So questions like yours are nearly impossible to answer.
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A collection agency legally require the amount of the debt, plus any other charges/penalties incurred in the collection of the debt.
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It is now.Student loans, like child support obligations and tax liens, are in a class unto themselves in terms of credit reporting. These debts are exempt from limiations placed on other types of debts and can be pursued, reported and sued over (most of the time) indefinitely. They cannot (usually) …
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It would depend on the type of student loan.Federally guaranteed student loans have no expiration under existing laws, and will indeed reappear and can be collected on and sued over until they are paid.
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Not necessarily.Is the person or company you seek to rent from going to pull your credit report? If not, then the status of your student loans is not an issue at all.If they are going to pull your credit, having a new account will cause a deduction in your credit score. It would be helpful to determ…
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Identifying the TYPE of student loan is crucial to getting an answer to your question. Federally guaranteed student loans have no statute of limitations, nor do they have an expiration date for how long they may show on a consumer's credit report.
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No. This doesn't mean a collector won't contact you. There are agencies who work on the assumption that a consumer is not informed about SOL's and consumer rights. If that happens you have a solid legal defense. Unless there has been a judgment already executed.
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The Student Loan GUY @ http://www.studentloanfundamentals.com Your Student Loan will become "Current" on your credit report.Now figuring out the score is hard because it depends on the rest of your financial situation. It depends on what you have on the credit report.
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The Bankruptcy Code used to say that student loans could be discharged if they were more than 7 years old AND some other criteria were met. In the past few years, the Code was changed and now the Bankruptcy Code says (in 11 USC 523): "(a) A discharge ... does not discharge an individual debtor from …
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This may vary from circuit to circuit, but in the 7th Circuit, student loans can and do continue to accrue interest during the Chapter 13.Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, a…
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I'm a bit unclear as to what you mean by "consolidated". If loans are from private lenders, and have no Federal/State connection, they are probably dischargeable. If they are FAFSA, SLMA, Stafford, or something of that nature, the general ruling is they are not. There are a few exceptions, such as "…
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Your debt is completely your own, and will not affect your fiance's credit rating. It would play a part in purchasing a house in your name only. As far as renting, landlords will usually consider you a "good risk". After BK discharge the person is for the most part (or should be) debt free.
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Under regular circumstances..No. However there are "hardship discharges" for instance someone has student loans, and becomes disabled. That person can file for dismissal of the loans on the grounds that they cannot at the time nor in the future be able to pay them off.   Discharging student l…
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LEGALLY: Chapter 7: Day after you file. Chapter 13: Day after you file with permission from the Trustee and court.IN THE REAL WORLD: Depends on other things on your credit, income, etc. I'm sure if you look hard enough though you can get a loan for any amount the day after somewhere.The issue here i…
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First of all, if the student loans are Federally funded, they cannot be discharged in BK. A hardship discharge is granted only when the loan holder has become disabled. The disablity has to be severe enough, there is no possibility of the debtor ever having earnings or assets to repay the loans. Any…
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Student loans are only non-dischargeable if they are funded by Federal or sometimes state monies. Some banks do act on behalf of government in lending Federally secured funds. You need to find the source of the funds that were lent, to know the status applied in a BK.
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Yes.... but you will pay higher rates and may have to shop around.
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Hardship dismissals for student loans are generally applicable only when the person has become disabled. Or it can be proven the person will never be able to garner enough income to pay the debt.   3 Prong test...1) Can not afford the payments now.2) Can not afford the payments in the foresee…
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Some received before the discharge are collectable by the trustee. Whether an inheritance can be included depends on the the type of BK (Federal or State) and the laws that are applicable. If however, the BK has been discharged, no monies are subject to seizure by the truste/court.   I'm a li…
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One can usually get student loans after bankruptcy so long as they meet the other eligibility requirements for those loans. Public policy mandates that a "well-educated" society is a "better" society, so for that reason student loans are protected from bankruptcy so lenders will freely give student …
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I disagree with Nikki. My reading of the Bankruptcy Code indicates that you can file a new Chapter 7 six years after the FILING date of the prior case. 11 U.S.C. 727 (of the Bankruptcy Code) states that a person cannot file a Chapter 7 if "(8) the debtor has been granted a discharge under this secti…
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Some student loans are dischargable in bankruptcy and some are not (and most are not). Student loans which may NOT be discharged in bankruptcy are those which are an "educational benefit overpayment or loan made, insured or guaranteed by a governmental unit, or made under any program funded in whole…
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That decision is up to the creditor who is considering grantin you credit. It really depends on what they have with their credit since filing for bankruptcy.
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Loan-by-phone companies Yes, but not all of them. *Make sure to see if they're registered with the state, and are with the BBB
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Sure, why not have one payment with a less interest rate? Maybe refiance your house at the same time.
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Federal student loans Yes, even though you are attending college already you can still apply for federal student loans. You may not get them for the current year. But you probably will. It will just be late. If you want to apply for the student loan for the next year, the time to apply is now. Th…
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Stafford loans Schools generally participate in one of these Stafford Loan programs: The Federal Family Education Loan (FFEL) Program The William D. Ford Federal Direct Loan Program. Under the Direct Loan Program, the funds come directly from the federal government. Funds for your FFEL will com…
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A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with exceptional financial need. A Federal Perkins Loan is made through a school's financial aid office. Your school is your lender, and it is made with government funds. You must repay this loan.Your school w…
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Likewise, I received tons of offers in the mail to consolidate my loans for a lower interest rate. Well, I only had ONE large loan. I was told, NO. I think that's because they take an average of your current loan interest rates to determine your new interest rate...... or it was the lowest interest …
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Student Loan Money Suggestions below may be helpful(financially), but they are advising you to commit fraud. I have yet to read an education loan agreement (including private/alternative loans) that does not stipulate that the proceeds of the loan are for educational use only. For federal stu…
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Student Loans Covering Off-Campus Housing Student loans are to be used for Cost of Attendance, which can include off-campus housing and living expenses. HOWEVER, your financial aid office at your school is the ultimate arbiter of what is legit. Most would agree that off-campus housing is legit. Now,…
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Answer It depends on the type of loan: -Stafford: 6 months after you graduate, withdraw, or drop below half-time. This loan type is eligible for subsequent deferment if you later return to school at least half-time, but there is only 1 six-month grace period. -Perkins: Same as above, but grace …
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Absolutely. There are numerous scholarships out there, which are non-restrictive on age, background, education, religion, grades, etc. They are simply out there to promote education across the global community.
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i am on a BTEC National Diploma Course in fish husbandary at brooksby college, and i was woundering if i could be eligable for a student loan?   The way I believe it works is whether the diploma is classed as further education or higher education. I did a BTEC National Diploma in Foundation S…
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The correct answer to your question is yes. You also must pay taxes on the amount forgiven. If you have FFEL loans instead of direct loans you need to go on the "income-based" repayment plan to get this benefit. Note that 25 years means 300 full payments; All months spent in deferment of forbearance…
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Yes, I know all Federal Student Loans start repayment 6 months after graduation.
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Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your debt (including debts you cosigned on) are a factor that would be considered by most lenders in making a credit decision. Your potential lender may ask themself: "If this p…
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It doesn't matter how long you had the loan, you have to pay it back unless you are disabled, a teacher in low-income schools, part of the peace corps, or the school forged your signature. If you have a federal direct student loan you can go on an income-contingent plan that will forgive loans a…
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Your student loans are yours. You have to repay them later, so you do what you want to with them now. Yes, they are supposed to be for help in your education, but I am raising two kids and going to school only with my student loans.The only demand by the lenders is to payoff your loans on time, othe…
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yes, the private or federally guaranteed student loans will show up on your credit report. If you are delinquent or in default on your loans, you can get help with consolidating the loans at www.defaultms.com The loans will show up on your credit report, even if they are still designated as defer…
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There are no income limits for unsubsidized Stafford loans.Subsidized Stafford loans are awarded based on need.There are two types of Stafford LoansStafford (Subsidized) - The interest portion of the loan is borne by the federal government. You can apply provided you spent at least half the time in …
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Provide proof you already paid the loan in full. That means front/back copy of canceled check or paid in full letter from the loan holder.
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A consolidation loan will allow you to get an income sensitive payment that will fit your budget, or you can file for deferment or forbearance. CALL THE DEPARTMENT OF EDUCATIONS LOAN FINDER LINE. THE NUMBER IS 800 621 3115 If they are federal student loans, you can also check the National Student…
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Well that's a tricky question it depends. There are 5 major types of loans to fund an education. Stafford Loans (sub and unsub) No credit checks are required but they have certain loan limits. 3500 Freshman 4500 2nd year 3rd and beyond $5500 per year. But if your are older than 24, married, in the…
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Any assets you own, including cars, can be seized if they win a judgment against you in court. Since they can garnish wages and offset tax returns without taking you to court, those are the most common methods of collecting.   No, they cannot take your car for college loan payments. They can,…
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Hey, Why dont you go for FAFSA assistance.. they provide good guidance in regards to federal student loan and are legit as well. One of my friend studying at http://www.northclevelandhighschool.com/ applied for loan through their online process and was able to pay it off on time due to the proper gu…
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From my understanding, if you transfer schools you have to let your lender know what you are planning on doing. If you do not register for classes at the school where the loan is placed, the loan money will not be sent. But you have to make sure you tell the lender about this.
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BECAUSE THEY ARE NOT TITLE IV FEDERAL DEBT - THEY FALL UNDER TITLE XV. SOME STATES WILL INTERCEPT STATE TAXES FOR PERKINS LOANS- BUT FEDERAL TAXES CANNOT BE SIEZED. THEY ARE THE SAME IN THAT THERE IS NO STATUTE OF LIMITATIONS.Edit to add: the University that holds the Perkins loan can assign it to t…
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Eligibility for Federal Stafford loans are not based on your credit so yes, it is possible to get a student loan even with "frightening" credit. The exception to that is if you have previously defaulted or are significantly past due on a previous student loan. Even in this case, there are options to…
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It would be a waste of time and money. The higher education amendment act made student loans non dischargable in Banruptcy Court. You would have to prove a major financial hardship to have it considered. It's next to impossible. A consolidation loan will allow you to get an income sensitive paymen…
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If you are at your maximum limit for student loans, you can pay some of it back in order to regain eligibility. I know that probably doesn't help you much - but also consider some private loan types (although be sure to read all the documents first - some are not good deals). Finally, there may be s…
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Hi thereIf you have not reached your aggregate loan limit ($23,000 for a dependant undergraduate) and if the school considers that you are still make satisfactory academic progress, then you should be able to take our federal loans for your final year. If your GPA is adequate and you haven't had to …
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The interest weight of a consolidation loan is now the weighted average of the interest rates of the loans being consolidated, rounded up to the nearest .25%. It's not mathmatically possible to get a lower rate with this formula. In addition to that, federal regulations do not allow each borrower …
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You can APPLY until the cows come home. Yes, it is very possible. More so IF you have established some good lines of credit for a length of time and did not go in default previously if you did, then that needs to be clear up first.
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%REPLIES% Answer I don't know what kind of student loan you have or if you already received the loan but I know that most student loans automatically approve you for the amount of school, books and living expenses. I received almost twice the amount of tuition. Always, accept the full amount …
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Don't know what kind of student loan you have but I know federal student loans approve you for the amount of living expenses (regardless of where) in addition to your tuition. I would think you would be able to get a private loan to cover this too, as it is a part of your school expenses.   Y…
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If you were a full-time teacher for five consecutive academic years in a "low-income" school, you could qualify for a federal loan forgiveness program. The forgiveness amount is 5k-17.5k.To qualify, you must:have taught full time for five consecutive complete academic years in an elementary or secon…
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Probably, but you are unlikely to be granted a large enough loan to refinance your consolidated loans. Yearly loan amounts are usually capped to your need for the current loan period (a year, usually) and you might not be able to borrow more than your current yearly educational outlay. But that depe…
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Yes, you would simply accept more loan money than you are going to need for school (I always accept the max). Then your school will send you a check for the amount your lender pays over what is owed to them. Use the money to be a pilot!   i think that previous answer is only valid if the stud…
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The majority of students are still considered dependents by their parents. That does not affect your chances of getting financial help. The income and expenses of your family will play a factor on whether you qualify for loans, grants or scholarships. And of course your academic history and other fa…
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Many lenders have a co-signer release option! Just ask them.ADDED: most lenders that offer this option require a history of 2-5 years of consecutive, on-time payments.
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Yes, federal loans can be used for bills but they have to be school related, such as upkeep and gas for your car to get you to and from school, also things such as food and rent are acceptable while you are in school. Ask your financial advisor through your school, or contact the company that holds …
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%DETAILS% Answer Only if you are getting a private loan. If you get a government loan it will not affect it since they will only hold govenment debt against you.
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Student loans, financial assistance, grants, etc. Are not in the traditional sense retroactive. Although I am not certain I completely understand your situation.   Yes you can, most lenders allow you to apply a semester/4 months after the term has ended. Some allow up to a year. Check Iowa St…
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That's a kind of tricky question. The answer is "some of each". If you're talking about the maximum amount you can get in a year, there is a maximum you can get per student that is modified by the school's cost of attendance. If the cost of attendance for the school is less than the maximum yearly l…
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Like any other debt you are responsible for, it can be reported to credit reporting agencies as a debt you owe. Owing money is and of itself is not necessarily bad, but remember that 1) creditors may look at how much debt you have in deciding whether or not to grant you credit, and 2) if the other b…
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Filing bankruptcy on Federally guaranteed Student Loans will not help you 99% of the time. Consolidate the delinquent or defaulted loans instead at www.defaultms.com . A student loan can be discharged in bankruptcy through an adversary proceeding in which you must prove repayment would cause "un…
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Answer Subsidized means it is need-based and therefore the govenment pays the interest while you are in school, during a six-month grace period after graduation or otherwise separating from school, and during authorized deferment. Unsubsidized is not need-based and therefore the government charge…
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Yes, you can get your answer here: www.defaultms.com/loan_forgiveness.html Here's a website that may help you:www.soyouwanna.comThere's a link for paying back student loans.Under some circumstances, your lender may partially or completely forgive your loan if you agree to teach in an area which h…
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%REPLIES% Answer Federal student loans do not need a cosigner. Your Uncle Sam is guaranteeing them. Answer If you are not applying for a federal student loan, but trying to get an alternative educational loan, some lenders, such as Bank One, will review financial information for a retired …
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After all your school expenses are paid, your student funds are given to you to cover what you need to get by during the school year. Rarely enough to cover rent, food, etc,. but if you can find a cheap beater to buy, no one's going to question where you got your money.Several years ago, loan promis…
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There is no Statute of Limitation on the legal actions and collections of student loans. You can even have Social Security checks garnished for nonpayment. Consolidation of the loans will allow you to get a payment that is income sensitive; based on your ability to pay. The new payment can be as low…
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Yes. Answer YESSSS!!! THE WORST thing to have on your credit report is an unpaid loan! TRUST ME on this, it took FOREVER to fix this, and even after you pay it off if it was ever defaulted it still stays on your credit for 7 years. Answer Easy now! Though a deferred student loan is "un…
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Assuming that the annuity in question is a "deferred" annuity (that is, that it is not already providing regular annuity payments), the answer depends upon whether you're over 59 1/2 or not. If you're not, any distributions from that annuity will be taxable as Ordinary Income AND subject to a 10% pe…
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No. and Yes. The default on your prior student loan must be addressed and the loan rehabilitated before you're eligible for more student loans.The bankruptcy would only affect you if you had a defaulted student loan that was written off in the bankruptcy. Otherwise, bankruptcy doesn't prohibit you f…
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Possibly. Some of it at least. A school creates a budget, in which tuition is only ONE of many components. If tuition is waived, your budget still has the other components and you should receive aid to cover those, like housing, transportation, books, etc.Please keep in mind that you've NEVER "entit…
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Only if the overseas university is recogzined by the U.S. Department of Education and has a DOE number.
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The dependent variable might be termed the "ordinate". The dependent variable in an experiment is the data you are collecting. When some variable depends on other variables, it is called the dependent variable. For example, the temperature of something will depend on how long you heat it, and th…
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Federal loans (such as the Stafford loan) are not based on your credit history. You will not need a co-signer, or good credit. With private loans there is no way around needing a good credit history. Here is more input and advice: If you're in foster care, talk to the people. There is a program whi…
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