Gabe R asked:


I was watching the news and I heard a blip about the Obama administration picking up the tab for students with federal direct student loans and I was wondering if this is true or is this hearsay?

Hollo asked:


How many kinds of federal student loans are there besides Perkins, Stafford and PLUS Loans? When do you apply for the loans?

StudentLoanMonkeyOnMyBack asked:


I have called at least a dozen places whose ads claim that they do private student loan consolidation. But when I called, every single one of them said they had either temporarily suspended or canceled their private student loan consolidation program due to the subprime mortgage crisis. Nearly all of them offered to consolidate my federal loans but I’ve already done that. A few of them actually named other places they thought were still doing it but when I called them, those places had also suspended their programs. So, if anyone out there has had recent success with consolidating their private student loans, please let me know. Thanks.

eHow asked:

Federal student loans are loans that the government provides for students in order to help them through their schooling. Find out how to apply for federal student loans for undergraduate, graduate or doctorate schooling with help from a financial aid officer in this free video on student loans. Expert: Brooke Kramer Contact: www.argosy.edu Bio: Brooke Kramer is the financial aid officer at Argosy University in Salt Lake City, Utah. Filmmaker: Michael Burton

TNP Girl asked:


I am due to start paying lmy federal student loans back in September. How do I even begin the consolidation process, or possibly deferrment of my loan payments for another six months. Any help would be great.

Student loans often become an important part of a college student’s life in order to get them the continuing education they need. The question always becomes what type of student loan should the person get? You have several options from federal loans, state loans, and private loans. The best loan that you can obtain for the interest rate and repayment is going to be the Stafford loans. These loans are available for undergraduate and graduate students. You will find there are two options for the undergraduate as well.

The subsidized or unsubsidized Stafford loans are available to undergraduate students. The subsidized loan is awarded on financial need. You will never be charged interest until you begin repayment or take a leave of absence of more than six months from school and defer the loan. The unsubsidized loans are not based on need. In other words any student can take out this loan, but you will be charged interest from the loan disbursement date until it has been paid off. You will find that there are also specific amounts for the Stafford loans. You can borrow a maximum of 23,000 or 46,000 depending on how you are borrowing. If you are a dependent of your parents you will only be able to borrow the 23,000. As an independent student borrowing money you are able to double that amount to the 46,000. You will also find that you can only borrow a certain amount per year of the 23,000. It will increase exponentially as you reach the higher levels in college because the classes or tuition tends to cost a little more. Independent students are also considered to need more money as they are not borrowing any from the family, hence the reason the amount you can borrow is a little more.

Again with the graduate loans you will find the subsidized and unsubsidized Stafford loans. You will also find that you are only able to have a maximum debt of 138,500. The subsidized loans will only allow 65,500 of the total amount. This means that once you have reached the 65,500 mark you will have to go for an unsubsidized Stafford loan.

For Stafford loans it can be a little difficult to get money beyond what will pay for the tuition and books, especially if you live in off campus housing. The FAFSA report is going to tell the college what your expenses are and what you need. Keep in mind that you don’t always qualify for the entire amount that can be given to you. In some cases they may only give you a partial amount based on what they see your needs as. Stafford loans typically don’t like to pay for off campus housing and therefore treat that expense as something you have to pay.

If you have any questions regarding the Federal loans you should speak with your financial aid officers at the college. They can help you find the answers you need or put you in touch with the company dealing with your loans.

By: Jim Power

About the Author:

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missart asked:


I need to consolidate my private student loans quickly. And possibly my federal loans as well. Need help finding an appropriate company.

maybell asked:


What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school?
My loans are government loans from Saillie Mae. I owe them under $5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company.

edfed1 asked:

www.edfed.com lowest unsubsidized federal stafford loans – call 800-821-5659. Lower you are monthly payments with unsubsidized federal stafford loans consolidation.

Mr Steele asked:


Federal student loans are either directly financed by the government or financed by private banks. Those private banks, however, get paid by the government if the student defaults on the loan.

So banks are basically making profits with very little risk.

Obama has said he wants to cut the middle man out and save the government/tax payer millions in dollars in the process. He also said the banking lobbyiest are preparing for war but that he is not going to back down.

Whose side are you on?