by eyewash

Question posed by be4unvme: what bank are good for private student loans covering living expenses?
i’m going to college next month and i need a private student loan that can cover my living expenses. i live in new york and it is much easier winning the lottery than getting a part-time job. what bank would you recommend for this type of loan.

Most detailed answer:

Answer by morninglory1972
It depends if you are living off campus. Either way Sallie Mae has two different loan programs that can help. If you are on campous–signature loan, if you rschool particapates in the program. Or the tuition answer loan, the money comes to you.

Both offer no payments until after graduation. You may need to add a cosigner to get it though.

If you know better then please let us know below.

Technorati Tags: bank, covering, expenses, good, living, Loans, private, student

by Chris Devers

A question from rman3008: Are private student loans a good idea for my situation?
Hey guys,

.

I filed my FAFSA and I am ineligible for any federal loans, so I would have to take out private student loans.

I have a co-signer with pretty good credit (credit score over 700) and, here’s the kicker, I actually do have the money to pay it, but it’s in in the stock market (it would be at a higher interest rate though). However, I was thinking of taking out a student loan since you can make small payments over a long period of time. Nevertheless, it seems like many people regret taking out these loans in the first place.

So, a few questions:

1. Is it a good idea to take out a student loan?
2. Which lender do you recommend (so far I”m looking at Sallie Mae, Citibank and Access)?
3. Is there an option for automatic bill payment with these student loan lenders and would this prevent me from having the interest rate increase?
4. About what interest rates can I expect for a private student loan?

Thanks so much for all your help.

The No 1 answer:

Answer by John D
If you dont need the money, then no, don’t get one

The good news is that the interest rates are fairly low, (Never higher than 8.25% on stafford loans) and the interest you pay is tax deductibe. The lender is of no importance, they all charge the government interest rates for these loans. When you can consolidate, that gives you a break on interest and if you pay through automatic bank withdraws, they usually lower the interest more

Provide your own answer to this question below!

Technorati Tags: good, idea, Loans, private, situation, student

by Chris Devers

A question from kEV: Where can i find a good private student loan? What are your experiences with private loans?
I want to attend Seattle community college but they do not accept federal loans so i am looking at private loans.
I don’t have good credit but I also don’t have bad credit. I have about 10,000 in collections.
I want to find a loan that I can wait till I’m out of school then i can start paying on.

Please let me know any experiences you have had with private loans also.

Thanks

The No 1 answer:

Answer by Jessy R
See if this helps.

http://www.loanforbadcredits.com/

Thanks.

Agree or disagree? Leave your own thoughts below.

Technorati Tags: experiences, find, good, loan, Loans, private, student

by House Committee on Education and the Workforce Dem

Question posed by compaq 1: It is a good idea to consolidate my federal student loans now?
I have over 20 grands in federal loans. It is a good idea to consolidate them now? Or wait for the interest to get lower?

Most comprehensive answer:

Answer by Jack
careers.scienceontheweb.net – it provides some tips about applying to US federal and state grants for college students.

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

Technorati Tags: consolidate, federal, good, idea, Loans, student

by Chris Devers

Question posed by Jamie: What’s a good lender for consolidating private student loans?
I’m trying to consolidate my private student loans, and a lot of lenders I’ve contacted are not currently offering this service because of the current credit crisis… Anyone know of a reputable company that is still offering student loan consolidations?

My chosen answer:

Answer by Sherlyn
When you run out of other options to get funding for your education, it may be time to get a private loan. These loans also called alternative loans, come with a number of features and are somewhat flexible. Here is what you need to know about how to choose a private loan for your education needs. Just like for any other loan, this one will be based on your credit rating. If you do not have one yet, you may need a parent, or someone else to cosign the loan for you.

http://www.worldbestloans.com/student-loans.htm

Just how much you can borrow is in accordance with your credit rating. A private loan gives you the option to borrow just what you need. Assuming you have some funding from a lower interest source, you will only want to borrow what the other lending agencies did not give you for your educational needs.

What do you think? Leave you answer below!

Technorati Tags: consolidating, good, lender, Loans, private, student, What's

Question by charlie6385: Are there any good student loans out there for someone with bad credit?
I am returning to school in the fall but am short a good amount of money. I need a loan to pay for the rest of the first year, but I have really bad credit due to poor judgment from a couple of years ago. Does anyone know of any places, programs, or banks that gives student loans to people with bad credit? Any help would be great!

No 1 answer:

Answer by detroitguy73
Check out Nelnet.com

What do you think? Leave you answer below!

Technorati Tags: credit, good, Loans, someone, student, there

A question from Brulia: What are some good companies to get private student loans?
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.

Selected answer:

Answer by Xiomara
A large number of college students receive financial assistance from a grant, work-study program, or Federal student loan. However, due to rising college tuition, traditional financial aid doesnt always the expense. When there is a difference between the education costs and financial aid received, students must find a way to pay the excess. Some people choose to use personal savings or a credit card when neither option is available, a private student loan from a private bank can fill in the gap.Private student loans are beneficial because they provide a quick solution to a tuition problem. Unlike Federal student loans, which can take several months to process and disburse, private student loans offer quick processing, and the money is normally distributed to the student within five business days. Once the student acquires the funds, the money can be used for multiple purposes such as tuition and books.

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

Federal student loans place limits on how disbursed money is used. However, a private student loan can pay for a variety of education-related expenses such as a laptop, rent, transportation, etc. While private student loans offer flexibility and quick processing, getting approved for such loans is no easy task. Federal student loans and grants do not require good credit, which is a nice feature since many college students have little or no credit history. Private student loans are quite the opposite. Because private banks approve the funds, loan requirements include a solid credit history and verifiable income. Plus, the interest rate on a private student loan is generally higher than a Federal student loan, which can equal a higher monthly payment.

Agree or disagree? Leave your own thoughts below.

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by Ed Yourdon

A question asked by Gregory: What is a good loan consolidation program for Federal and Private student loans?
I am looking for a good student loan consolidation program that will take on both my Federal and Private student loans from Sallie Mae. If you know of any good ones that you have heard of or used in the past, please leave a description or website so I can look into it. If you are a loan company, don’t bother answering the question as I will mark it as Spam. Thanks.

Most detailed answer:

Answer by stressedandconfused
I used direct loan consolidation. It took about 2 months.

http://www.loanconsolidation.ed.gov/

What do you think? Leave you answer below!

Technorati Tags: consolidation, federal, good, loan, Loans, private, program, student

by Ron Sombilon Gallery

Question posed by pamv: Does anyone have any suggestions for a good company to consolidate private student loans?
Our kids have private student loans with Citibank. They had the best consolidation options when the loans were obtained and now they won’t consolidate their OWN loans. Can anyone recommend a reputable company. I know Wells Fargo will consolidate private loans from other places, but I don’t know anything about them.

No 1 answer:

Answer by Suddenly Human
You might try Sallie Mae. They will be just as good as any… but really consider if it is in your best interest to consolidate. Usually by doing so you end up spending a whole lot more money because it takes your terms out to like 25 years or more and the interest rate isn’t that much better (if any). All for a few bucks less a month.

What do you think? Leave you answer below!

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by Ron Sombilon Gallery

A question from RockCityNoseBleed: What is a good company to consolidate private student loans with?
I would like to consolidate my private student loans but don’t want to be subject to the pitfalls of those attractive offers like “Consolidate now and get a check fo $ 1000.00.” I read the fine print of all the mail offers I receive but I don’t trust any of them enough to persue them. I have about 40k to consolidate and will be returning to school in January to add a few more thousand. Has anyone already consolidated and had a good experience? I would be moving from Sallie Mae as my servicer. Please note, these are for private loans, not federal. Thanks in advance!
I would prefer not to consolidate with Sallie Mae. I had a rather awful experience with them recently and partly look to reconsolidate so that they are no longer my loan servicer .

Chosen answer:

Answer by payingcollege
Sallie Mae can consolidate your private student loans and then you won’t have to move them: http://www.salliemae.com/consolidate

How about adding your own answer to the comments below!

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