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when you get consolodation loan the lender pays off all of the loans you want taken care of. for example you have 5 different loans that amount to a total of 25000.00. the lender that you are getting the consolodation loan from will pay each account in full in your name and you will have taken out a loan for 25000.00 however these accounts may show up as a transfer on your cbr until the consolodation loan is paid
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∙ 18y ago
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How can I have my student loan forgiven?
One can have a student loan forgiven if one has no money at all to pay or if one joins a program called student loan which basically pays every penny of ones loan.
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
How can student loan debt be consolidated?
Student loans can be consolidated after graduation or dropping out of school by filing with the government to consolidate all federal student loans. Remember that non-federal loans cannot be consolidated.
Can you pay a consolidated student loan with high interest with a new student loan at lower rates?
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 depends on how large your conslidated loan is.
Where can one get in the UK consolidated student loans?
Student loans cannot be consolidated in the UK as the repayments are deducted in a different way to that of a 'normal' loan. Repayments on a student loan would be deducted from one's wages once employed and earning a certain salary.
How can I have my student loan forgiven?
One can have a student loan forgiven if one has no money at all to pay or if one joins a program called student loan which basically pays every penny of ones loan.
Can you get a student loan forgiven if you can't pay?
no
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
What companies offer a consolidated student loan?
Many different companies offer consolidated student loans. Some examples of these companies include Loan Approval Direct, Next Student, and DebtConsolidation.
Where can debt be consolidated for free?
Debt may be consolidated at many different institutions, such as a bank or a credit union. If a student loan is taken out from the federal government it may be consolidated for free.
My brother wants to borrow 150K from me. Is my brother or I obligated to pay taxes to Uncle Sam?
A loan is not a taxable transaction. If the loan is forgiven, the brother would have to pay income tax on the forgiven amount.
How can student loan debt be consolidated?
Student loans can be consolidated after graduation or dropping out of school by filing with the government to consolidate all federal student loans. Remember that non-federal loans cannot be consolidated.
Can you pay a consolidated student loan with high interest with a new student loan at lower rates?
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 depends on how large your conslidated loan is.
What do the letters UNCNS mean regarding student loans?
It means that your loan is UNSubsidized Consolidated
Where can one get in the UK consolidated student loans?
Student loans cannot be consolidated in the UK as the repayments are deducted in a different way to that of a 'normal' loan. Repayments on a student loan would be deducted from one's wages once employed and earning a certain salary.
Can student loan be canceled after you reach a certain age?
Under certain circumstances a loan may be forgiven by the lender, but age has nothing to do with it.
Is there a way to sign over a parent loan to the student so that the parent and student loans can be consolidated?
No.
