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If it is your only option, I argue the negatives are trumped by the positives of having a higher education. First of all they are loans, so it is a debt. Incurring debt, by default, is generally considered a negative. You cannot get rid of them by filing bankruptcy, so don't think that is an option either. Where people run into the most trouble is either A. deferrals - which delays repayment, but the interest continues to increase the total amount due B. They don't pay them at all, and end up with garnished wages. They are generally lower interest rates (even at the private level, def. on the federally) then credit cards or other methods you could attempt to finance education.
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∙ 17y ago
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How does my poor credit and or bankruptcy affect my children getting student loans?
It does not affect them.
How does having student loans affect tax return?
Not at all
Will back taxes effect your student loans?
No, but is will affect your credit report.
Can chexsystems affect loans?
There are some that have said they were turned down for both loans and jobs due to a negative chexsystems report
What happens if I don't pay back my student loans?
Failing to pay back a student loan can have negative consequences. It can negatively effect your credit score.
If you have outstanding student loans and die is the estate charged for the student loans?
Actually, that's not true - student loans are forgiven when the student dies.
Are student loans forgiven after age 60?
Are student loans forgiven at age 60? Are student loans forgiven at age 60?
What company provides direct student loans?
There are only a few companies that provide direct student loans. You can go to a bank and get student loans from there, or you can get Federal Loans from your school.
Can private student loans be consolidated with federal student loans?
Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.
What kind of agency is The Student Loan People?
The Student Loan People is an agency that specializes in student loans. They are located in Kentucky. They work with people getting student loans, collections and repayments of student loans.
Are all student loans federal loans?
No, private lending institutions (such as banks) also give out student loans.
Are all student loans issued by the Federal Government?
No..there are also private student loans.
