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Stafford Loans. A+
Ideally, if one wants to be able to get future loans (including: personal, mortgage loans, auto loans, etc), yes, loans have to be repaid. One may not be arrested for not paying back loans, however, the lender may sue the individual (in civil court) to recover the loan plus any costs associated with the process.
No
Very few plans permit former employees to take out loans. Most in fact require any outstanding loans to be repaid within a short time of leaving employment. There are a few plans that let former employees take out loans. The only way to know for sure is to contact the plan administrator or to look at the plan documents.
Whether you can borrow from your 401k depends wholly upon the plan specifics. In other words, 401k Loans are generally allowed by the IRS, but are not always allowed by employers.
Stafford Loans A+
Stafford Loans. A+
Loans have to be repaid and grants do not, so the Pell Grant would not have to be repaid.
Grants do not have to be repaid. Loans have to be repaid.
In the US, if the loans are Federally Guaranteed then the loans will be forgiven by the Government is the loan holder dies. If it is a co-signer that died, then the loans still need to be repaid. If the loans are private, then they still need to be repaid.
Ideally, if one wants to be able to get future loans (including: personal, mortgage loans, auto loans, etc), yes, loans have to be repaid. One may not be arrested for not paying back loans, however, the lender may sue the individual (in civil court) to recover the loan plus any costs associated with the process.
YES
No
Very few plans permit former employees to take out loans. Most in fact require any outstanding loans to be repaid within a short time of leaving employment. There are a few plans that let former employees take out loans. The only way to know for sure is to contact the plan administrator or to look at the plan documents.
Whether you can borrow from your 401k depends wholly upon the plan specifics. In other words, 401k Loans are generally allowed by the IRS, but are not always allowed by employers.
Car title loans are short-term, high-interest loans where borrowers use their vehicle's title as collateral. The lender holds the title until the loan is repaid. Borrowers can typically access a percentage of their car's value. These loans often have steep interest rates and can lead to repossession if not repaid on time.
The payday loans are repaid to the lenders on the borrower's next pay day. Individual lenders would have their own different criteria, but the underlying processes are similar.