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Do you have to pay your private student loans while im still in school?
Wiki User
∙ 12y ago
Yes you can. Most loan companies will allow you to make payments even though you are still in school. I am in Grad school and even though my undergrad loans are in deferment, I am still making payments to the loans that are accruing interest. The loans that are subsidized and not accruing interest, I am leaving alone until I payoff the unsubsidized loans. Find out who has your loans and contact them about where to send payment.
Wiki User
∙ 13y ago
Wiki User
∙ 12y agoGenerally, the terms of a private loan are determined by you and the bank servicing the loan at the time you acquire it. Many loans offer you the option of deferring payment while you are still in school. However, if payments are deferred, you will still be accruing interest on those loans even when payments are not due, so it is a good idea to attempt to make payments if possible.
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Do you still have to pay back student loans if the school is no longer in business?
Possibly - it depends on the terms of your student loans. If you took out a private student loan through a bank, you will probably need to pay back the loan. If you took federal student loans, depending on when and why the school closed, you may not need to pay the loans back. You should check with the institution that you have been sending your student loan payments to.
Can you still get a student loan half way through the semester?
You can still get student loans half way through the semester. However, student loans are not disbursed until after the semester has ended, unless it is from a private institution.
Do you still get student loans even if you were 3 percent under the required completion ratio for your school?
no
If you default on a private student loan through a private lender not associated with your school or financial aid office are you still eligible for a federal student loan through your school?
Yes you are.
Are any private student loans still considered government loans?
No, by definition, private student loans are not government student loans. Federal student loans are guaranteed by the US, govt, and the govt sets the interest rates and determine the policies around loan limits and repayment. Private student loans are provided by banks, credit unions and other financial institutions such as Sallie Mae. Because they are not guaranteed, they are much higher risk to the lenders, so they are typically credit based. This means interest rates are variable, and determined by the borrower's credit history. Because most student's haven't had a change to acquire good credit, having a co-signer with good credit almost always improves the interest rate. Banks don't have any collateral for student loans.
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
How do you get a private student loan?
Many banking institutions now offer student loans at rates that are competitive to former federal loan programs. Two banks that come to mind are Discover Bank, and Chase Bank. Both have programs that offer loans to college students. These programs need not be repaid while the student is still attending school, and the funds are paid directly to the college.
Are student loans reported on credit history if still a student?
yes
If a school goes bankrupt (college) while I am still registered do I still owe the student loans What is the best way to cut late fees and penalties from student loans?
There is the Weston Paxxon Senior Rehab Services which is one of the best in the Brooklyn, NY area.
Getting a Private Education Loan?
A lot has been said about obtaining grants and student loans to pay for college tuition. One factor that is often overlooked is the private education loan. These loans are not as favorable as other options but for a student that has run out of viable options they can be a life saver. When a student first decides to enroll in college it is important that they fill out the Federal Application For Student Aid. This form, popularly called the FAFSA, is essential to establishing the need of a student for federal grants and loans. Many students do not qualify for grants because it is money the government simply gives away in order to further the ability of the underprivileged to obtain an education. There are fewer still that do not qualify for a government subsidized loan. These loans are offered at no interest and must be paid back once the student leaves school. So what option is left to those that qualify for none of these forms of assistance? Private loans. A private education loan is offered by a bank or other financial institution with the understanding that it will be repaid after graduation. These loans do not have the best rates on the market but may be the only option for students whose parents make too much money but do not support their pursuit of a higher education. Banks often lower their credit score requirements for student loans knowing that these customers are far more likely to hold jobs in the future that will allow them to pay back the loan. It is typical that no payments are required on these loans until six months after graduation. That said, every student should know that interest still accrues on these loans while in school. Not qualifying for government aid is no reason for a student to not attend college. While private loans do not carry the same favorable interest rates, they still provide a means for a person to invest in their own future. It is far better to go in to debt to better one's self than to wallow in poverty and wonder what could have been.
Can you still get student loans under bankruptcy?
Yes.
Your father died and you have student loans outstanding Can you be relieved of this debt?
Let me start by sending my condolences for the loss of your father. If the student loans were taken out by your father as PLUS loans, then the loans will be forgiven by the government. If you took out the student loans under your SS#, then you still have to pay on the loans, even if your father cosigned on them.
