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First off all a student loan is designed for those who can't afford paying for tuition, so the biggest advantage is that you will obtain your degree. Of course nobody can guarantee that after graduation you'll find a nice job with a decent salary and that you'll be able to repay your loan faster, but still it increases your chances. Without a proper job you won't be able to apply for a mortgage, obtain a low APR credit card, buy a sports car etc... You can always repay your student loan even with a simple credit card if you use wisely your "no APR" period.
Wiki User
∙ 11y ago
Wiki User
∙ 12y agoSome benefits of private student loans are that they school tuition check so that you do not over borrow. And also you do not have to start paying back and making payments until six months after the date of your graduation from your college or university.
Wiki User
∙ 12y agoWhen you're trying to finance your education, it can be rough to find all the money you need to cover rapidly rising tuition costs. The problem with this is that many students are far too young to have the credit necessary to borrow money from traditional lenders, and this is where US Dept. of Education student loans come in. These are student loans that are guaranteed by the federal government on your behalf, meaning you'll get the loan almost no matter what. These loans are a great way to jumpstart your education if you find you are lacking in funds.
Wiki User
∙ 8y agoOne benefit of having student loans is that college is paid for without spending your own money up front. Another benefit is that it can build your credit history, if paid for on time.
Wiki User
∙ 12y agoIf you have low-income, the government will lend you the money to go to school. The same goes with bad credit.
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What should every student know about student loans from the US Dept. of Education?
Here's a link to a website that offers information on student loans from the US Department of Education, and if it's right for you or not. http://www.ed.gov/
Can you give me the link to the us dept. of education?
The website for the Us department of education for student loans is: www.direct.ed.gov There are also many other places to obtain student loans, or financial aid.
Where can I find a loan program or bank that loans to students attending Swiss schools that do not participate in US Dept of Education loans or grants?
Don't apply for a student loan. A personal loan, maybe.
How do you find out if you have any outstanding student loans?
== == == == Go to nslds.ed.gov to find out about federal loans. For private loans, check your credit report.
Do you have to pay for a student loan that was made 35 years ago?
Yes, there is no statute of limitations on the repayment of student loans. Federal collection agencies will try to collect on the loans even into retirement. In fact, the Dept. of Ed. will garnish Social Security income for defaulted student loans.
Can you spend your student loans after your tuition and stuff is paid for?
You could but you should return the money so not to get big dept.
Can you settle a defaulted student loan?
In the US, if the student loan is Federally Guaranteed then the answer is no. The Dept of Ed. and it's collection agencies will not negotiate or settle a debt. If the student loans are private, then the answer is yes. If you need help with your defaulted student loans, the company listed at the bottom of this text box can help you.
Will you receive your tax refund if you are currently unemployed and have deferred student loans?
You won't receive it. It will be forwarded to Dept of education
How to find out about a default on a student loan?
Call the Dept of Education help line at 1-800-4FEDAID
Repossess for a defaulted student loan?
In the US, the Dept of Ed. does not reposes anything on the repayment of Federally Guaranteed Student Loans. They will only garnish wages, garnish social security, and keep tax returns. If you need help getting out of Default on your student loans, click on the link at the bottom of this text box.
Can the GI Bill money be garnished for child support?
If your Federally Guaranteed student loans go into default status, you could lose your GI bill benefits altogether. Once student loans are in default, you are inelligible for any other type of government help. You should consolidate your student loans and prevent any of this from happening. You can get an income-based repayment plan and pay as little as $0 a month, depending on your income and dependants. If you want help with the consolidation of your student loans, click on the link below.
If you owed student loan money from Sallie Mae and it is now turned over to a collection agency can I be garnished?
Yes! If your student loans are with a collection agency they are in default. When student loans are in default the dept. of ed gives the collection agencies "CARTE BLANCHE" to collect the money by any means necessary. Wage garnishnent is only one.
