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A very high percentage both in Canada and the U.S. I live in Canada (don't think the U.S. is much different when it comes to student loans) and the loan is difficult to pay off. Presently, our government is going to make it easier for students to loan money. Most parents can't afford to pay all the expenses that a student requires, and, if a government is smart, they will come to realize that students can't work 1 - 3 part-time jobs to pay for college (books and tuition is becoming more expensive every year) study, and be expected to retain good health. It's stupid!
I know several young people in my town and they would rather work 2 - 3 jobs than take out a student loan.
If the student is a very good student, then I feel the government should kick in SOME financial help free of charge to get that student the best education possible. Sounds like I'm from Russia, but that's how they do it. In Russia the student could be from a wealthy family, but the student could be as bright as a bag of nails, but another student from an average to poor family could be highly intelligent and the government will pay for their education. Makes sense to me. I did go to University for a short time and found that there were a lot of "bench warmers" sitting there killing time. I knew students that were like this and either they eventually quit or their parents paid their way through. My opinion only, but, dead wood should be kicked out and those that are serious get good education without having a debt for the rest of their lives.
If you can get away without a student loan try. Only use it as a last resort. Check into it and see what it will cost you in the long run.
It's a shame to see the waste of a beautiful mind!
Good luckMarcy
In the U.S. the percentage of defaulted student loans is much lower than most people believe. Defaulted loans reached their highest peak in 1990 at 22.4% when the government allowed loans to be used at almost any institution that even vaguely resembled a form of educational purpose. The percentage of defaulted federal student loans in 2003 through 2005 averaged 4.9%.
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If you catch up a defaulted loan can you get a another student loan?
In the US, yes you are eligible for additional student loans if you rehabilitate, bring current, or consolidate your defaulted federal loans. If you need help with the consolidation of your defaulted loans, click the link below.
Can you receive the GI Bill if you have defaulted student loans?
No they check on that.
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.
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
How do you stop a student loan wages garnisment?
You should consolidate your defaulted student loans and stop the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below
Can you get your student loans paid for by joining the peace corp?
if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans
If you catch up a defaulted loan can you get a another student loan?
In the US, yes you are eligible for additional student loans if you rehabilitate, bring current, or consolidate your defaulted federal loans. If you need help with the consolidation of your defaulted loans, click the link below.
Wage garnished student loan paid off can you get another student loan?
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
Can you receive the GI Bill if you have defaulted student loans?
No they check on that.
Is it possible to reconcolidate defaulted student loans?
In the US,it is certainly possible to consolidate your delinquent or defaulted student loans. Most lenders will not accept them, but a few will. If you need assistance with the consolidation of your loans, click on the link at the bottom of this text box.
Are you eligible for a single-mother student grant if you have defaulted on your student loans?
In the US, the answer is no, unless you rehabilitate the defaulted loans for 12 months or unless you consolidate the loans. A person with defaulted federal loans is not eligible for additional federal assistance until the default status is rectified. Once the loans are rehabilitated or consolidated, you will then be eligible to go back to school and receive additional loans or grants. If you need help consolidating your federal student loans, click on the link below this text box.
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.
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
Receiving student loan when being in Default?
In the US, you can only get a new student loan if you rehabilitate or consolidate the defaulted loans. To rehabilitate, you need to make 9-12 on time payments to your current lender. If you need help with the consolidation of your defaulted student loans, click on the link below
Can new york state garnish wages for a student loan with out going to court?
If they are Federally Guaranteed student loans, then yes they can. If they are private student loans, then no they can't. You can consolidate the defaulted loans and skip the garnishment. This company can help you: www.defaultms.com
How do you stop a student loan wages garnisment?
You should consolidate your defaulted student loans and stop the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below
Can you apply for student loans if you have defaulted on your previous student loans?
If you are living in the US, then the answer is no if the loans are in default. You will not be eligible for another Federal student loan until the loans are rehabilitated for 12 months or consolidated. If you need help with consolidation of your defaulted loans, please click on the link at the bottom of this text box. In some other countries, student loans can be awarded as long as you fill the requirements (i.e. are a student at an approved institution and have a minimum of courses). You can simply keep adding to the loans and pay them off later when you finish studying, or while paying them off.
