by U.S. Embassy Jakarta, Indonesia

A question from Joe R: I need to get a private student loan because my bank and school no longer do federal student loans, but my?
credit score is 543 and can’t get approved for a private student loan from anywhere. I don’t qualify for grants. Anyone have any suggestions?

The top answer:

Answer by Jesus Christo
what kind of schools dont accept federal aid?

Agree or disagree? Leave your own thoughts below.

Technorati Tags: bank, because, federal, loan, Loans, longer, need, private, school, student

by eyewash

A question asked by Eezy: Are private student loans possible if you’re enrolled in a 2 year program at a community college?
I am attending Bunker Hill Community College in the fall and since there is no housing provided by the college I am getting an apartment. I know that private student loans may be used for expenses such as rent and transportation but have not been able to find any information regarding the eligibility of a Community College student. I will not be able to do this without a loan, I have no other funding options. ADVISE ME!
thanks, eezy

Chosen answer:

Answer by RoaringMice
Have you filled out the FAFSA and submitted it yet? The FAFSA is what the gov’t and BHCC will use to calculate your financial aid needs. Your financial aid will include the cost of housing, if you want it to.

You may be able to qualify for some low-cost, low-interest government subsidized student loans. These loans are better than private loans, because: 1) much lower interest 2) you don’t pay them back until *after* you graduate.

Google the FAFSA right now, and get that process started.

If, after you file the FAFSA and receive your aid letter from BHCC, you see that you still have unmet need, first go speak with financial aid at BHCC. You may have options other than private loans, or if you *must* use a private loan, they may be able to recommend one that is relatively good.

If you *have* already filled out the FAFSA, go speak to someone in financial aid at BHCC. Explain that you need to have your aid adjusted to cover living expenses, and they’ll help you get all that settled.

Don’t jump right to a private loan without going through these other steps first. Private loans should be your last resort.

Good luck!

How about adding your own answer to the comments below!

Technorati Tags: college, community, enrolled, Loans, possible, private, program, student, year, you're

If you are looking for a video about private student loans then look no further because below you will find a great video I ran across just the other day.

What to do if you are having trouble paying your student loans? Courtney, a certified Credit Counselor, talks about ways you can pay federal and private student loans. For more information, please visit www.myfinancialgoals.org

Technorati Tags: American, back, federal, financial, Loans, paying, private, Solutions, student

by eyewash

A question asked by OCfan: Are private student loans renewed yearly until you graduate?
What do I have to do to renew a PRIVATE student loan every year until I graduate? Is this possible?

The top answer:

Whether you agree or disagree, why not leave your own thoughts below.

Technorati Tags: graduate, Loans, private, renewed, student, until, yearly

by Chris Devers

Question posed by Sdfgsdfg: Would you marry someone with bad credit or huge student loans?
Regardless of the physically and emotionally attraction, would you marry someone with bad credit and huge student loans? Just say, the girl has $ 20,000 in credit card debt, drives a lease BMW, has $ 200,000 in student loans due to interest, likes to party a lot in clubs with her friends. I am a doctor who likes to stay home and read and go sunset walks on the beach. I never had a girlfriend besides her. I am afraid she is marrying me only to pay her bills. Am I wrong? Plus, she wants me to buy her handbags from Prada and take her to fancy places. Do I deserve better?

The best answer:

Answer by .
Not on a bet. Let her figure out how to pay her own bills.

What do you think? Leave you answer below!

Technorati Tags: credit, huge, Loans, marry, someone, student, would

by SS&SS

A question from Just Me: Can I get a student loan with bad credit?
I do own a home but have multiple small itmes on my credit from 6 yrs ago, as well as a voluntary surrender 6 yrs ago. Can I qualify for a student loan with this credit? My score is in the 500′s I believe. I qualified no problems 14 yrs ago when I went to school but my credit score then was 860. Will my bad credit keep me from getting a student loan?

Best answer:

Answer by ZigZag1.25
You should go to the colleges financial aid office and ask them about federal loans that you may qualify for, but you have to pay them back or it comes out of your wages and income taxes, etc. You may also qualify for a number of any grants that are available. If you go through a private loan company than you may not get a loan without a cosigner, but I think it is different with Federal Loans.
Tj financial aid office would have a lot of information. Maybe even go to your colleges website. You should even be able to find out information from there

Whether you agree or disagree, why not leave your own thoughts below.

Technorati Tags: credit, loan, student

by eyewash

A question from Selena: Do private school student loans (not federal) count as unearned income, if you’re using it to pay for rent?
I’m planning to apply for SNAP food stamps, but it asks me if I have any unearned income, I was wondering if I should put down how much student loans I am receiving (that are not federal, but private)? It will affect food stamp eligibility if it does.

Do private or federal school student loans affect food stamp eligibility? Thanks!
I’m paying rent for off-campus housing, my college doesn’t have any dorms on-campus, so we’re forced to live in private apartments

Most comprehensive answer:

Answer by Suddenly Human
You have to pay loans back, therefor it is not considered income.

Do you know better? Why not leave your own answer in the comments below!

Technorati Tags: count, federal, income, Loans, private, Rent, school, student, unearned, using, you're

by Big 3 News

A question asked by dylanthomas44: 1) what federal government organizations consolidate student loans?
Also, do any of these organizations consolidate private loans?

The top answer:

Answer by patticharron
Sallie Mae (Student Loan Marketing Association) offers loan consolidation, as do any number of lenders. I would stay away from big banks like Citi, Bank of America, Chase, etc that offer consolidation. Stay with an outfit that only deal in student loan paper.

There are no “federal government organizations” per se that consolidate or make loans. The lenders that do are authorized by the feds, but are not government agencies in and of themselves. There are some state-run organizations, like the Ohio Student Loan Commission, Kentucky Higher Education Commission, etc. But nothing federal. The feds simply guarantee the loan; that’s all.

When you consolidate, be wise about what your getting into. There are a lot of offers out there to REDUCE YOUR PAYMENT BY 75%!!! for example. But what this does is extend the payment period to 25 and 30 years, thus making the actually repayment amount up to ten times what you actually borrowed. So be careful.

Don’t sign anything until you see the Truth In Lending statement which spells out the real deal. If you are confused, ask your banker or a knowledgeable friend or parent to look it over and help you make a good decision.

Do you know better? Why not leave your own answer in the comments below!

Technorati Tags: consolidate, federal, government, Loans, organizations, student

by eyewash

A question asked by : Are student loans debit just as bad a credit card debt?
I got a buddy who owes a whole lot of money on student loans because he was buying things that had nothing to do with school. He build it up really high is this basically just as bad as credit card debt? This guy is honestly not me im just curious because i have minor credit card debt who is more screwed me or him?

The top answer:

Answer by timothy p
Banks view student loans as good debt. The interest tends to be low because they are guaranteed and the payments can be strung out for years so the payments will be low.

That being said, it is still debt. You are spending money that you don’t have yet. Low interest is still interest. It is almost impossible to get out of paying them back as well.

How about adding your own answer to the comments below!

Technorati Tags: card, credit, debit, debt, just, Loans, student

Videos, such as that shown here, are an excellent way to understand the subject of student loans.

President Obama outlined a plan to speed up help for millions of Americans struggling with the cost of higher education. Gwen Ifill discusses the president\’s effort to ease the burden of student loans with \”Generation Debt\” author Anya Kamenetz and Jeff Selingo of the Chronicle of Higher Education.

Technorati Tags: helpful, loan, Obama's, plan, relief, student, would