Where can one find assistance on paying back a federal student loan?
There are many places one might go to find assistance on paying back a federal student loan. Some employment programs offer assistance as part of job bonuses.
The government site for Consumer Finance has a host of information and assistance for paying back student loans. Working with your student loan company to defer or lower payments may be an option to make your loan payments more manageable, or finding a financial institution who can refinance your loan for a lower rate is also a viable option.
There are several public assistance programs that aid in paying back student loans. A search engine or phone book can be used to find the nearest public assistance office to find a program that fits you. There are no programs that will pay back a student loan for you. However you can apply for a government grant that if you qualify need not be paid back. These are based on income
When you fill out the FAFSA (Free Application for Federal Student Aid), you will find out what financial assistance you are eligible for: scholarships and grants (these do not need to be paid back), loans (these do need to be paid back), and work study (you work to earn your tuition). You can read more about the different types of federal student financial aid at the link below in the related links section.
Most loans require students to pay back the money as soon as they're out of college and have a paying job. If a parent wants to pay back the loan their student has took out, then the student won't have to pay. However, students are responsible for paying back loans like the Wells Fargo Student Loan.
Great Lakes keeps individuals up-to-date with information about their student loans. Great Lakes also monitors the location and enrollment status while individuals are in school. Great Lakes provides assistance to individuals paying back student loans. Payments can even be made through the website or by automatic withdrawal.
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 reason to go federal for student loans is simple: The government gives much more leeway when paying back student loans than do private companies. Federal loans for students in times of political upheaval can yield great results. If a student takes out a loan when politicians are putting money into the educational system, that student can lock in great rates which will save him or her thousands over the life of the loan. Private…
Possibly - it depends on the terms of your student loans. If you took out a private student loan through a bank, you will probably need to pay back the loan. If you took federal student loans, depending on when and why the school closed, you may not need to pay the loans back. You should check with the institution that you have been sending your student loan payments to.
This is a VERY hard thing to get and rarely are student loans discharged. Additionally, student loans are not discharged in either a chapter 13 or chapter 7 bankruptcy proceeding. In the event that a student loan is discharged, the court requires a showing of extreme difficulty in paying the money back.
There are many websites on the internet that will provide information on how, and where to get grants for single mothers to go back to school. FAFSA is a federal student aid program that will allow you to go back to school with financial assistance if you are eligible. They have FAFSA representatives that can talk with you and help you decide on what all must be done to fullfill your financial need. http://www.fafsa.ed.gov/
I did a bankruptcy a few years back, and Student Loans are not included in the bankruptcy, which means you will still be liable to pay them back. Also a car loan or any secured debt will not be wiped out. Keep in mind with the student loans, generally if you are having trouble paying them, you can get an income based deferment or lowered payments.
If a student accepts what's called a stipend check (the amount of excess Stafford Loan money sent to the student once college expenses have been deducted) then it does count as part of the student loan. Students are responsible for paying back the entire student loan plus interest whether it was spent on educational expenses or not. It is wise to return stipend checks and decrease the amount of student loans you take out.
I had a federal student loan that went into default. They took my taxes each year and they are now paid off. I was wondering If I would be able to go back to school and get another student loan?
No. It will be held by the IRS and applied to your tax bill. So you won't get a check in the mail or deposited into your account, but you will get a credit towards your back taxes. The same is true if the IRS is currently keeping your refund through the Treasury Offset Program for student loans, child support, etc.