Brulia asked:


I am in the process of looking for a private student loan to help cover the cost of living and being a student. I’m probably going to apply for an Astrive Student Loan. Are there any other good companies where you don’t need tons of credit? Or do you know anything about the Astrive loans? Thanks.

bluebird asked:


I currently have salliemae Federal student loans at 6.8%. I have an opportunity to take out a loan somewhere else for 2.7 % and pay off the higher interest rate loans. But will I still be able to write off the interest from this new loan as I do with my current student loans?

Private student Loans is another alternative that comes into force rescuing students who have a bad credit history. I have heard of many cases where students apply for loans as a supplement with their Stafford or Perkins loans. In other cases, I have seen people applying for student loans with private organizations when their Stafford loan amount comes to an end.

There are many financial institutions that offer private student loans with bad credit. The only fuss in the deal is the requirements of the financial institutions. Most entities that I know of providing this service would require a Co-borrower or a Co-Signer. This means as a student you and your parents would need to sign on the loan agreement agreeing to repay the loan.

In certain cases where you have repaid some installments of a previous student loan independently, you would be given the authority of branching away the Co-borrower. This is known as Co-Borrower Release and by doing so, you ensure that the loan repayment is entirely yours. This also puts you in a position where you are not hit by the Credit History of your Co-Borrower. Both of you are separate entities speaking from the loan perspective and you would hence need to take charge of repaying your loan off.

Be careful applying for private loans with banks. If your bank requires a co-borrower to sign on the agreement before the loan is sanctioned, make sure that your co-borrower has a good enough credit history. Not having a good credit history could jeopardize your chances of getting the private student loan that you would have otherwise got stand alone.

It is an unsaid rule in the world of loans that one needs a co-signer to ensure that the student loan gets approved. That said, it does not mean that you would not get loans if you do not have a co-signer to sign on your agreement. There are some lenders in the market who would offer loans to you with you having to worry about the co-signer.

Start your research today and trust me, you will find one or the other lender who will be able to give you a loan without your co-borrower. Please note that having or not having a co-borrower for your loan is subject to the credit history of your co-borrower. If he has a good credit history, you would not mind getting him on-board for signing the loan agreement. Think twice if it is otherwise.

By: Adam Hefner

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DJ Ango asked:


I have $35,000 student consolidation loan which I have been paying off for the last two years with a 7.25% fixed rate. I’ve been paying double the monthly payment, but it’s been depressing seeing the interest eat up most of that. At this rate I’ll be paying it well into my 30s. Where should I go about refiancing? I have excellent credit, a well paying job, and interest lates are low now, so I figured it might be a good time to refinance. Is that a fair assessment? If so, where should I start?

Kelly asked:


I have creditors for my student loan now calling my job threatening to garnishee my paycheck. I used to send $55 a month but when they took away my federal refund and stimulas checks i got pissed. I want to start a rehab program to get it out of defult but they want $550.00 up front and payments of $180.00 a month. i can only afford something like $100.00 without and upfront payment. what are my options. Please help.

thanks

jh_kim0319 asked:


I need to borrow money from private investors or the government to pay off about half of my tuition per year, (like 20,000 a year)
Can I actually borrow that much money as a student?

… asked:


I know it is a lot, but im stuck with it. I wish I could have made a better choice. I still have to back it back in about a year and a half and I am worried about it. How can I successfully do this? Advice? Tips? Dos? Donts? Any one with experience?