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  • Student loan payment question if taxes are taken?

    Ok, if you had some issues and you got your taxes taken by collections, and you make consistent payments, they send you paper work for financial hardship, if you fill this out may you get the taxes back if the hardship is approved? Has anyone of you gotten your tax returns back before consistent payments?

     

    • spalmer 4:29 pm on August 7, 2010

      No, you will not get your tax refund back. It was garnished because you were in default. Making consistent payments will bring your loan out of default and will prevent your next refund from being taken or your wages from being garnished. Your taxes would only be refunded if a mistake was made in the garnishment — meaning if your loan had not actually been in default.

  • Should I use my student loan money on useless/fun things, or a buy a house out of foreclosure?

    I have always used $ to live on, drinking and traveling etc. This semester I’m taking out a hefty loan in hopes of getting the best deal on this foreclosure. I no longer want to pay rent when I could buy a house for 2 years worth of rent. I also have dogs that need a yard!

    Should I go broke, buy the house/make the repairs and live off what my fiance and I make (like we are now)? Or spend the money on a much needed new car and a trip to Egypt?
    I merely have 10k of as of now and I graduate in a year. This may put me up a few 10s of thousands.

     

    • teajohnsf 12:32 pm on August 7, 2010

      Take advantage of the Student Loan while you’re a student. I think you already answered your own question by claiming that the fun stuff was useless stuff versus the house. You already know your priorities. What you really need in life are necessities: food, shelter and clothing. The student loan can help you finance your down payment for shelter for a very low percentage rate. I only hope you used your loan for drinking water, coffee or juice, and not on alcohol. Tsk, tsk. Good Luck

    • Okay 12:32 pm on August 7, 2010

      go to egypt after you pay off that loan.

    • thatguy 12:32 pm on August 7, 2010

      Sounds like your going to spend it one way or another so i’d suggest you buy the house… its a better investment. Be careful though, sometimes college kids go over board with student loans cause it seems like free money at the time. Just make sure you’ll be able to pay it back when it comes due. One thing i will warn you about is the interest rate… expect it to skyrocket after a few months or year or so, even if they say it’s "fixed"… "can only go up to a certain rate" blah, blah, blah. I’ve seen student loans go up to 19% before. Be careful with them!

    • ninette u 12:32 pm on August 7, 2010

      go to http://www.grandfundingsource.com
      and fill out ur info
      they’ll call you
      this is the best way i can help you with. anybody can get money regarless what they wanna do.

      what you wanna buy ? cuz you can also get it for free at giveaway

    • jpetals 12:32 pm on August 7, 2010

      DO NOT BLOW IT!!! Talk to some ppl that have student loans and are trying to pay them back. It’s very difficult.

      If you want to make an investment, great, but I would be really hesitant to suggest blowing it.

      Take it from someone who is in the situation and didn’t even spend my money on junk. And I have friends who are now in great debt and fighting to get out of it.

  • If im getting a student loan through a bank like Chase do I need to ask for the loan each year or some at once?

    I’m going to be attending college for 4 years. My tuition, books and supplies may be covered by grants and scholarships. But price of living may be covered by a private lender like a Chase . Do I need to ask for some 4 years worth of living expenses up front or each year?

     

    • skittles8553 8:27 am on August 7, 2010

      Well if at all possible, you should apply for a student loan from the government and use some of it if you can to cover living expenses. Usually money left over from the scholarships, etc can be given back to you in a net check and you can pay expenses from there. I also suggest you get a part-time job to help cover some of the living expenses. That is what is the most expensive these days!!!

      I also suggest that you avoid private loans period because they can jack up the interest rates and have you paying FOREVER!!

      I personally had school paid for by college scholarships and saved enough of it and lived well within my means to pay living expenses too. Get roommates, share bills, get help from parents and grandparents- check into all of it before going private loan- PLEASE.

      If you can look into getting the Young, Fabulous, and Broke book by Suze Orman- she actually talks about some of this stuff. She is great and after listening to her my friends have gotten back on financial track (I was always conservative so I was never off track).

      Hope this helps. Check out: http://www.suzeorman.com

    • Found-1 8:27 am on August 7, 2010

      Loans will be dispursed to the school each semester. You apply for them on a yearly basis.

      Federal student loans through your school (Stafford loans) will have cheaper interest and some of them the government will pay the interest while you are in college. It’ll save you a ton of money in the long run. Avoid private student loans like the plague. They are evil, not to mention you’ll need a cosigner.

      Federal loans need no cosigner and require no credit check. Here is a good book that lists the interest rates. Also, I wouldn’t recommend a loan for living expenses. Get a part time job instead. good luck.

  • How to find a 'good' Personal/Student loan?

    Hi, I am a 18 year old High School Senior and currently considering taking a personal loan for 00 to 00 for a new flute. I currently make about 0 a month (part time) and plan to work full time next summer also. Ideally, I would be willing and able to pay off this loan within a year or before leaving for college. Is this the best plan or should I look for other options?

    Also, as I may be using this for school, is it possible that I may be willing and able to take out a to cover it? I’m unsure of the terms of both personal and student , but as I am 18 I have no credit.

    Thanks for your answers!
    Thanks for some your answers guys! But to clear up a few things, I require this flute within a month or 2, as I am going to be auditioning for scholarships and the flute I currently have is not up to par. So far, with a personal loan it looks like the interest starts at 10.5%, no idea how that would adjust for me however.

     

    • gonzo 4:28 am on August 7, 2010

      Go to your bank first and ask them. If the interest rate is very high, maybe you can try to save some money and buy a second hand flute. I wouldn’t take a loan if I can avoid it.

    • Bitter B 4:28 am on August 7, 2010

      Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad credit<!–student loan is payable only after the student has completed his or her education, and has started earning a certain minimum amount. You can find more information on Student Loan here,

      http://badcredits.awardspace.com/student-loans.htm

      The minimum amount that the candidate of the bad credit student loan is required to earn has also increased. Bad credit student loans are available as both secured and unsecured loans–>depending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.

    • G-man 4:28 am on August 7, 2010

      Save to buy the flute, rent one or find a nice used one. pay cash if you can. The interest rate on the loan will add a lot of extra money to the cost of the flute.

      regarding your student loans, check out this website, it will give you lots of information.

      http://www.estudentloan.com/

    • Rony 4:28 am on August 7, 2010

      Some student loans are possible without co-signer
      there are private loans with very low interest.
      I found interesting information about your answer, college loans with low interests, scholarships, college grants here.http://all-student-loan-consolidation.blogspot.com/2007/07/college-loan-consolidation.htmlGood luck!

  • How to decline a student loan?

    I accepted a but I saw the interest rate was high so I now want to decline/unaccept it. How do I go about doing so? The loan is from Sallie Mae if that makes a difference.

     

    • Chancho 12:29 am on August 7, 2010

      You may be able to do so online through your school, or you can contact
      their customer service dept.

      From their website:

      Toll free: (888) 2-SALLIE (888-272-5543)
      TDD: (888) TDD-SLMA (888-833-7562)

      If you can’t dial toll-free numbers from your location, please call (850) 767-7471.
      Business hours are Monday–Thursday, 8:00 a.m.–9:00 p.m. EDT; Friday, 8:00 a.m.–8:00 p.m. EDT.
      Fax: (800) 848-1949. Please include a cover sheet with your name and account number.

    • Scotto 12:29 am on August 7, 2010

      If you cashed it or it was deposited in your bank account you’ve accepted.

      Your only recourse is to contact them and tell them you want to settle, unfortunately they set the repayment terms.

      Good luck.

  • Can a person get a direct student loan from the federal government and get ssi benefits also?

    Can a person who is disabled get a from the federal government in order to visit school and get a job he or he can do and still get ssi benefits during the time they are in school?

     

    • Nick 8:32 pm on August 6, 2010

      education.mypressonline.com – it provides some tips about applying to US federal and state grants for college students.

    • ♪ Bâý Øf PLèn†ÿ ♫ 8:32 pm on August 6, 2010

      You don’t need 2. Just get the student loan

  • Is it legal to take a student loan and open a CD?

    I want to take out a but would like to keep the money in CDs until I need it. It is against the law? For how long can I keep it in CDs?

     

    • Brother Otter 4:28 pm on August 6, 2010

      Perfectly legal. Since the student loan money all gets disbursed at the beginning of the term and you won’t need it all then, you can put part of it in a CD that matures in 30 days, some more in one that pops up at 60 days, and the rest close to the end of the term. You won’t make much, but it’s better than just sitting there in your school account getting nothing.

    • god_43@sbcglobal.net 4:28 pm on August 6, 2010

      lol pick the person above me…….lol

    • Suddenly Human 4:28 pm on August 6, 2010

      The money would go to your school to pay your tuition and fees and books and dorm and meal plan, if there is any left over then you would get the remaining balance of the loan. No it’s not against the law to put it in the bank or get a CD. Usually folks dont get a whole lot left over after everything is paid for though.

  • What's the best type of student loan to get?

    I made it 3 years without a , but now I caved and have to take 1 out to study abroad since I am not considered ‘financially needy’.

    Anyone know good resources for information on ? I don’t know where to stat.

     

    • hav_monirath 12:28 pm on August 6, 2010

      Get a scholarship or study grant! There are many of them and you can check this out here : http://www.all-scholarships.blogspot.com

    • Ang 12:28 pm on August 6, 2010

      If your school participates in the Federal Stafford Loan program, then that would be best. It is a student loan with lots of benefits for student borrowers. Your financial aid office should be able to provide you with plenty of information.

  • may my student loan refund affect my foodstamps and my daughters medical card?

    I live in the state of WV and was wondering if anyone could help me. If I get a checking account and cash in my stafford loan refund may they take my food stamps and my daughters medical card. My mother in law swears up and down they may do that but I’m not to sure that is for student assistance. PLEASE HELP!