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Can a parent get out of a student loan if they can no longer work?
Wiki User
∙ 10y ago
In some instances, a parent can get out of a student loan if they are unable to work. You can visit the Federal Student Aid website for information about discharge of debt.
Wiki User
∙ 10y ago
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What kind of agency is The Student Loan People?
The Student Loan People is an agency that specializes in student loans. They are located in Kentucky. They work with people getting student loans, collections and repayments of student loans.
How does a student loan consolidation program work?
There are some differences in student loan consolidation programs but most work the same way. The program combines different loans to lock in a small interest rate.
How does student loan forgiveness work?
Student loan forgiveness is forgiven if one doesn't have any money at all to pay of the loans. This doesn't happen often but some companies forgive the loans when it is proven in court that one cant pay the loan.
Can you have student loans forgiven?
Yes, both government and private loan companies have student loan forgiveness programs. You must meet their requirements in order to be eligible for them which includes but is not limited to military service, volunteer work, or any other task specified in the particular Student Loan Forgiveness Program you are applying for.
How can I apply for student loan forgiveness?
There are a few ways you can get your student loans forgiven. If you join the military or peace corps, the government may forgive most or all of your student loans. Also, there is a national program for teachers who work in rural areas which involves forgiving student loan debt.
What is a good alternative to grad plus loan?
There are not many options to the student available in avoiding the encumbrance of a grad plus loan. However, there are good alternatives. One good alternative is seeking a private aid loan. A private aid loan will allow a parent to assist and defer payments. It may be an alternative that will work well in saving money and saving finances, and eliminating a heavy financial burden.
Who should you contact in order to consolidate your student loan?
In order to consolidate about your student loan, it would be best to first contact the company that originally granted you the loan. By doing this, it is possible that the company would work out a payment plan with you, in order to avoid the loss of the money in which they loaned out.
What are the terms of student loan forgiveness?
To go about getting a student loan forgiveness, I suggest talking to whoever runs the student loans at your university or college. Just try and get them to cut your student loan down a bit. Check out this website for more details: http://www.loansavers.org/qa-how-do-i-go-about-getting-forgiveness-for-my-student-loans-by-teaching-in-a-high-needs-school-2778.html
Parent PLUS Loan Eligibility Requirements?
The federal government offers Parent PLUS loans as a supplement to grants, scholarships, and Stafford loans. Thankfully, unlike some private loans, the eligibility requirements are simple, straightforward, and fairly easy to meet. First, the student usually has to submit the Free Application for Federal Student Aid (FAFSA), depending on the institution. Parent PLUS loan eligibility is not determined by family income, so while the FAFSA may be required by the institution, a higher Estimated Family Contribution (EFC) will not bar a family from eligibility. The second requirement for PLUS loan eligibility is that the person applying is the legal guardian of a dependent undergraduate student. This phrasing is important. It means three things: first, the student must be pursuing undergraduate, not graduate, work. Second, the student must be a dependent of the applicant as defined by the FAFSA, which is ages 21 and under. If the student is over 21 or has been emancipated from the parents, the parents are no longer eligible for the loan. The easy way to know whether or not the student is a dependent is if he or she had to fill in the parent's information on the FAFSA form. Yes means the student is a dependent; no means the student is not. Third, the person applying must be able to verify legal guardianship over the student. After filling out the application, which can be found at the Parent PLUS loan website, the only eligibility requirement is passing a credit check. While this credit check is fairly forgiving, it is possible to be declined on the basis of serious adverse credit history, including cases of foreclosure, Title IV debt, or failure to pay on debt for more than 90 days. Parent PLUS loans are a great low-interest way to fund a student's higher education. Because they aren't need-based, they are accessible to most families who do not qualified for other income-based grants and loans. Since eligibility requirements are easy to understand and meet, they provide a safe way to pay for college when other financial aid doesn't cut it.
How do you make your first student loan payment?
You make your first student loan payment when you commence work and fill in a form for your taxes. There is a box asking if you have a student loan from if you have graduated over 12 months ago (you do not need to tick this box if you have not graduated over 12 months ago but you must get your employer to inform them when you have been working for 12 months)
How does Federal student loan forgiveness work?
You can go to the Department of Education web site and research the information you are requesting
can you have studnet loans forgiven?
Yes, both government and private loan companies have student loan forgiveness programs. You must meet their requirements in order to be eligible for them which includes but is not limited to military service, volunteer work, or any other task specified in the particular Student Loan Forgiveness Program you are applying for.
