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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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โˆ™ 2006-11-19 23:20:55
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Q: What is the negative affect of student loans?
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Related questions

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

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.

Where can student loans be obtained?

Student loans might be obtained from the government of each student. However, it also depends on which country a student studies. For example, a student studying in the UK can obtain student loans from the website of slc, which provided loans to most of students in the UK.

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.

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.

What are some types of student loans?

There are many types of loans students can apply for, but the simplest categories are the two: federal student loans and private loans. All loans funded by federal government are administered through the US Department of Education's Federal Student Aid programs. Other types of student loans include: # Federal student loans # Federal Stafford loans # Federal Perkins loans # Federal Parent PLUS loans # Federal Graduate PLUS loans # Sallie Mae Smart Option Student Loan # Continuing Education Loan # Career Training Loan # International student loans

Are all student loans federal loans?

No, private lending institutions (such as banks) also give out student loans.

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.

Do student loans affect a credit score?

Yes, they are like any other loan. they are listed on your credit report and affect your score.

Can I apply for private student loans? contains information on student loans application, and how to pay for college. has to do with private student loans

How can I get direct student loans?

Go to banks and they can show how to get direct student loans. Also consider searching the web for direct student loans, and ask trusted friends, colleagues, and family members about this direct student loans. good luck.

Is ACS a useful tools for student loans?

Yes, ACS is a useful tool for student loans. Every student's situation is different, but ACS offers student loans as well as consolidation options for those who have existing student loans, often simplifying the loan process for borrowers.

Where do I find out about consolidating student loans?

Talk with whoever you got your student loans through. They will be able to tell you if you can consolidate your loans or not.

Are all student loans issued by the Federal Government?

No..there are also private student loans.

Where can I search for alternative student loans?

You can find out information about alternative student loans and the competitive rates of student loans by sitting down with your banker and seeing what options they suggest.

Can you file bankruptcy for your student loans and keep your house out of it?

If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.

Does Wells Fargo offer student loans?

Yes, Wells Fargo offers student loans. You can compare rates of their student loans as well as other similar business student loan rates on their website.

Personal loans should have a lower interest rate than student loans.?

Personal loans should have a lower interest rate than student loans.

Where can someone go to learn more about college education loans?

You can learn about college education loans from government websites such as Student Loans and Student Aid. Other websites include CU Student Loans and Scholarships.

Do you still have to pay for student loans when you file a bankruptcy?

Yes, student loans can not be discharged in bankruptcy. You can consolidate your loans and get a smaller payment.

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