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What else can I help you with?
Is there an income requirement to qualify for FAFSA loans?
FAFSA has five types of federal loans available; most have income requirements, but not all. The loans that have income requirements are the Federal Perkins Loan and Subsidized Stafford Loans. The loans that do not have income requirements are PLUS loans (parents, or graduate and professional student), unsubsidized Stafford Loans, and consolidation loans. If a student is a dependent of their parents, the parents income will count towards meeting income requirements. Loans that are not income dependent do require good credit. http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Can someone with bad credit get student loans?
Student loans are decided upon the income of the student and their parents and also the college course for which they are applying. Debt is not normally considered so even someone with bad debt would possibly be able to get a student loan.
If your parents make too much would getting married help you get better student loans?
Getting married does make you independent of your parents income, however you need to consider your income as well as the income of your future spouse.
How do you deal with delinquent student loans?
You can consolidate delinquent student loans and get an income sensitive repayment plan.
Where can I find more about the income contingent repayment option for student loans?
Income Contingent Repayment, abbreviated ICR, is used if a person needs to pay back their student loans but have a low income. Any direct subsidized or unsubsidized loans are eligible, as well as direct plus loans or direct consolidation loans. Loans that are not eligible are federal family education loan program loans (FFEL) and direct plus loans made to parents. If you choose the income contingent repayment option, you would make monthly payments for 25 years based on your family size, income, and amount of money owed for your direct loans.
What is the recommended debt-to-income ratio for individuals with student loans?
The recommended debt-to-income ratio for individuals with student loans is typically around 10-15. This means that your total monthly debt payments, including student loans, should not exceed 10-15 of your monthly income.
Can student loans garnish unemployment income in Nevada?
yes
What are student loans?
The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.
What do you need to qualify for student loans without cosigner?
Student loans are provided without consigner based on needs. For example if you are independent from your parents, you can qualify for student loans without cosigner.
How can I certify my income for student loans?
To certify your income for student loans, you typically need to provide documents such as tax returns, pay stubs, or a letter from your employer. These documents show how much money you earn and help determine your eligibility for loans.
What are private student loans?
The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.
