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A student loan is designed to help students pay for college tuition, books, and living expenses. It differs from other types of loans in that the interest rate is substantially lower and the repayment schedule is deferred while the student is still in school. Before accepting any kind of student loan one should be familiar with its basic attributes. Student loan basicsThe United States uses a federally guaranteed student loan program to help college students pay for their education. The program allows students to borrow money at a reduced interest rate and defer payment until they are no longer in school. Student loans are generally offered as part of a total financial aid package that may include grants, scholarships, or work study opportunities. In the United States, there are three types of student loans: two of them are sponsored by the federal government and the other type is private loans. Qualifying for a student loanMost college students in the United States qualify for some type of student loan, although the amount they can borrow may vary based on several factors. Income level, parents' income level, and other financial considerations are all weighed to determine the amount you are eligible to borrow under the federal student loan program. Repaying a student loanA student loan has two major advantages over conventional loans - lower interest rates and easier repayment terms. The interest rate on a student loan will generally be at least two percentage points lower than the going market rate for conventional loans, but this will vary somewhat. Repaying a student loan is different, too. In most cases, payment can be can deferred on the principal and the interest until the student is out of school. Repayment typically begins anywhere from six to twelve months after they leave school, regardless of whether or not they complete their degree program. In some cases, repayment begins if course load drops to half time or less, so it is important to check the exact terms and conditions of any student loan. CriticismThe student loan system has also been criticised including by supporters of other systems such as a grant system. From Wikipedia under the
GNU Free Documentation License Is student loan still tax deductable when refinancing a student loan with a personal loan? Q. My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help. Asked by Andrew M - Tue Sep 4 17:08:56 2007 - - 2 Answers - 1 Comments A. Nope, sorry, but personal loan won't qualify, as you will have nothing in writing to say that it is student loan interest. Answered by PepsiLime - Tue Sep 4 17:33:54 2007 How to stop student loan wage garnishments if you agreed to make default payments? Q. I recently defaulted on my student loan and contacted the student loan company to before they started garnishing my wages. I agreed to a reasonable monthly payment and made the payments on time when I noticed that my wages were being garnished as well. I contacted the student loan company several times and they kept saying that they would remove the garnishment and that my employer had recieved the paperwork. I contacted my employer's payroll and the stated that they never got the paperwork and I should ask for a copy myself to fax it in myself just in case. The student loan company wouldnt give me a copy of the garnishment letter to the employer and claimed to have faxed the paperwork in. It has been 4 straight pay periods and nothing has… [cont.] Asked by workingmywayback - Wed Aug 22 13:37:40 2007 - - 3 Answers - 0 Comments A. Well it seems to me if you set up the auto-draft to your bank account willingly you should be able to stop it at will as well. Call your bank and tell them you want to stop sending that company money. Or allow them to take it out of your account, however it was set up. Good luck! Answered by Found-1 - Wed Aug 22 20:18:30 2007 What is the easiest student or personal loan to get without a co-signer?
Q. I need to get a loan to be able to go back to college, however neither of my parents have any credit and I can not find a co-signer. This means I'm on my own and I unfortunately do not have much credit. What is the easiest, personal or student, loan to be approved for without a co-signer? Thanks a lot! I should mention I already have the max on all the federal stuff, and this is for a past due balance from last year. Asked by sean k - Mon Nov 23 23:11:02 2009 - - 1 Answers - 0 Comments A. a federal Stafford loan does not have to have a cosigner and you don't have to pass a credit check. You apply by filling out the fafsa at Answered by Suddenly Human - Mon Nov 23 23:14:11 2009 From Yahoo Answer Search: "Student loan"  news.google.com Red, White, and Blue Press (blog) If left unchecked, high interest rates and payments can cause any newly graduated student a lifetime worth of student loan debt. ... Business Loan Bad Credit ZeroMillion News Debt Consolidation & Your Credit Report: The Correlation Explained Earthtimes (press release) all 12 news articles » news.google.com TVNZ He said some polytechnics were struggling financially and highlighted issues around how the student loan policy works. Key later clarified that the interest ... and more » news.google.com Red, White, and Blue Press (blog) Having bad credit or no credit can make it difficult to obtain a student loan , or similar financial aid, for anyone just out of high school ... and more » From Google News Search: "Student loan"  getridofthings.com 160px x 160px | 9.60kB [source page] four years of expensive tuition finishing your lib ed credits at a smaller cheaper college then transferring to the big school is a good way to cut down on your student loan debt Apply for scholarships and grants Student loans aren t the only viable source of financial aid There are plenty of scholarships and grants for every background and area of study and  finance673.skratchbrossard.com 101px x 128px | 2.40kB [source page] open student loan finance this result in new window financial forum Finance open this student loan finance result in student loan finance commodities spot rubber prices nicholas piramal Universal student loan finance child care center open student loan finance this result in new window student loan finance directory Where your tax debt more than you have a browser student  debt333.newmilano.com 117px x 102px | 2.30kB [source page] bank act requires that a creditor And almost a student might otherwise lose through student loan debt the date of student loan debt a student loan debt new student loan debt york state No fees debt collector contact a housing and urban After or student loan debt within the thirtyday period that information obtained the assistance africa paid Your student loan debt public From Yahoo Image Search: "Student loan"  howmuchquestions.com How Much hu, 04 Feb 2010 18:41:02 GM well i do have my pharmacy tech license. it will expire 2011. i cannot find a job in this field. i am applying everywhere even outside of this field. i cannot even start paying my . student loan. . is there free training available for ...  learnhowfromvideo.com admin hu, 04 Feb 2010 20:00:36 GM Sallie Mae is the largest . student loan. company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.  mynextcollege.com admin ue, 05 Jan 2010 10:40:46 GM Education is a good thing. To some, this may seem painfully obvious and not the best way to start an article off. However, after we get done exposing the. From Google Blog Search: "Student loan" |
