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Can the gov. take money from your checking acct for defaulted student loans?
Wiki User
∙ 11y ago
Yes they can! They can also attack your IRS stimulus rebate!
Wiki User
∙ 11y ago
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Who is responsible if 2 people co-signed a student loan which the student defaulted on?
Who pay's a defaulted studentThe student is responsible and if judgment is granted then they take money either from their pay check's or their income tax will be held for payment until debit is payed. So the student has either garnessment of wages or tax return's..... In the US, a cosigner can be removed from a loan if the original borrower consolidates his/her loans in only their name. To get help with the consolidation of defaulted loans, click on the link at the bottom of this text box.
Can Sallie Mae garnish your new husband's wages or taxes on two student loans that you cosigned with your ex-husband - which are now in default?
I have 7 years experience in Defaulted student loans and can not definitively answer this question. My professional opinion is no, but I suggest you call the Dept. of Ed. at 1-800-4Fed-Aid. If they can't give you a definitive answer, then contact the Dept. of Ed. Ohmbudsman's office. If you want your name off of the defaulted student loans, have your ex-husband consolidate the defaulted loans in only his name. You will then be off the hook. It is tough to get defaulted student loans consolidated through a new federal lender these days. One company that I'm sure can help is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
How can a student receive money for college?
loans and scholorships
Can you apply for a private student loan before you apply for a grant?
Yes, but you should find out how much Grant money and Federal student loan money you are eligible for before applying for Private student loans. Grants are free and Federal student loans are cheap. Private student loans are very expensive. Avoid them if you can.
What exactly are easy student loans?
Student loans are loans, or money, that is given to students who need assistance in paying for their education/schooling. Easy student loans is mostly likely an easier, simpler way for college students to qualify.
What is the statute of limitations on coming back and collecting money owed for a loan that the balance was zeroed out but money never taken out of a checking account electronically?
There is no statute of limitations on federal student loans under any circumstance.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
What is the most money you can get from applying for school loans?
The maximum amount of money a student can get from applying from loans actually depends on the the student. A good thing to do is actually calculate the amount with a web source.
Can a defaulted student loan be included in a bankruptcy if it has been purchased by another creditor?
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 payment that will fit your budget, or you can file for deferment or forbearance.
Can you receive money you've already been awarded once you have defaulted on a loan?
In the USA, if your Federal Student Loans are in default, then you are not eligible to receive any additional Federal Student Aid. If you need help getting out of default and getting off of the tax offset list, click on my profile, StudentLoaner, below.
How do you get more money from student loans?
You apply for more loans or else be happy with what you have. Get a job if you need to help you get through.
Should I apply for student loans?
If you have the money to pay for school do it. Taking out loans is a good option if you are in need of money, but anything that is taken out does have to be played back.
