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What else can I help you with?
Is there any help available for a co signer when the student defaults on a school loan?
No. You are responsible for the debt if the primary holder is not paying their debt.
If a person defaults on mortgage payments will this affect the cosigners on their student loan?
yes
Can a parent get out of a co-sign default student loan?
Probably not - the reason a parent had to co-sign on the student loan is so the bank gets its money back if the student defaults. Unfortunately, you are probably on the hook for all the money and the default will be reported on your credit report.
How do you obtain a federal student loan?
Go to student loan area--financial assistance--at the school where you are applying.
What if the primary signer on a loan defaults?
If the primary signer defaults the co-signer will become responsible for paying the loan.
What happens if you get a student loan and then decide not to go to school?
Probably nothing PROVIDED you pay back the loan. It depends upon whether it was a condition of the loan that you DO go to school. In any event, whether or not you go to school, by its very nature it is a student LOAN and not a student GIFT so you must expect to repay it - one way or another. By its very name it is a student LOAN and not a student GIFT. So whether or not you actrually go to school you will have to repay it. What ELSE did you imagine?
What exactly is a school loan?
A school loan is money provided to you because you are a student, and you have to pay it back because it is a loan. Most student loans do not require you to begin payments back until your graduate.
Can you get a loan if you paid your defaults?
Yes!
Can you pay on student loan while still in school?
no
If you default on a private student loan through a private lender not associated with your school or financial aid office are you still eligible for a federal student loan through your school?
Yes you are.
What are the general terms of a loan taken out for school?
The student is able to receive a loan, likely through the school's financial aid department, and loan amount is based on the previous year's taxes analyzed by the student's FAFSA submission. After the completion or exit from the school, the student will be expected to begin payments on the loan. The monthly payments are based on the amount of debt acquired by the loans during the school year.
Do you have to be a full time student in order to defer your student loans?
You can defer your student loan payments while in school. Typically student loan payments are not deferred due to employment status.
