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Okay, I'm a Freshman in college and when I am done with my full year in may I'll already be in 19K debt. I'm really nervous about it and it stresses me out, but I will refuse to drop out just because of the hefty price. I'm actually transferring schools to a public to make it less expensive. But I've figured out that I'll be in about 44K defbt when I graduate in 3 years.
UGH. Oh well.
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∙ 15y ago
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Can you use your Stafford student loan to pay off debt?
No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.
Who should get a debt consolidation loan?
Federal Student Loan Consolidation Program means combine all loan into a single pay. :Loan consolidation is the best for the student who not able to pay your fees. If any student want to continue their study and they want to take admission in top college for higher education but good college take high fee. But some time all student unable to pay your college fee then they take student loan. But after completion of education they are facing problem with pay your student loan then they require loan forgiveness or consolidation. Federal student loan consolidation is the best option to pay your all loan into single pay
Is a pioneer military loan the same as a GI Bill?
A pioneer miliary loan can be used for student loan debt and personal debt. A GI Bill is a benefit military personel can use to pay for college tuition and room and board while attending college.
Should you take out a student loan to pay for college expenses?
Not unless you have to, otherwise you are in debt as soon as you graduate and it must be repaid and will accrue interest forever. Not even a bk can erase a student loan.
Do you have to pay taxes on your non-federal student loan?
No, it is a debt not income.
How common are federal student loans?
Many students use federal student loans to help pay their college tuition. Federal loan programs a very popular and usually offer low interest rates. Currently, the student loan debt in the United States has exceeded $1 Trillion, second only to mortgage debt.
How does college debt consolidation affect the average student?
College debt consolidation has several different effects, both positive and negative. The student will have a lowered interest rate and monthly payment, and will also have an extended repayment term. However, the student will lose their grace period, pay more in total interest, and have an extended loan period.
What is the purpose of a private student loan?
a student loan is to help you with your college fees or to move and buy stuff for you new accomadation when you move to a new college you can get a loan over the period your in college and pay back at monthly instalments
What is the current rate of student loan interest in the UK?
The student loan interest rate in the UK varies annually. Currently it is 2.75%. If a student who borrows from the Student Loan Company does not pay it back within thirty years then the debt is wiped.
What are the advantages and disadvantages of having a student loan?
Getting a student loan helps people who can't afford to pay for college realize their dream. Unfortunately, student loans can be expensive on a smaller salary right out of college.
What to do if reached student loan limit and still have to pay for college?
If a student reaches their aggregate loan limit, they must pay down their loan first in order to be eligible for additional financial aid. Otherwise, the student will need to pay the remaining cost of school with cash out of pocket or take out a private loan.
What is the difference between a student loan calculator and a debt calculator?
A student loan calculator helps a student calculate their loan payments based on how much they are expected to earn in their new profession. A debt calculator helps a person know how long it will take to pay off all of their debts and become debt free. The amount entered into the calculator will depend on how much the debtor thinks they will be able to pay over a period of time.
