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  • +8

    How to Pay for College After a Recent Bankruptcy Discharge

    My daughter will be starting college in the fall (hopefully). The full cost for each year is approximately $50,000. She received a scholarship for $35,000 and she has enough saved for books ($1,000), leaving her needing $14,000. When we filled out the FAFSA it said her family contribution would be too high. Unfortunately my husband and I filed for bankruptcy in ...
    Published about 3 years ago | Rated: +8
  • +5

    How Does a Pending Foreclosure or Short Sale Affect Financial Aid?

    How do we answer the question "Do you own your home" on financial aid forms when we are in pre-foreclosure? We are not yet in active foreclosure, but are several years in arrears on our mortgage as we are significantly underwater on our loans and have been unsuccessful so far in getting a satisfactory modification. To that end, we just retained ...
    Published over 2 years ago | Rated: +5
  • +7

    Seeking Clarification of Income-Based Repayment for Married Student Loan Borrowers

    I will begin to pay back my student loans in January. My loan debt is about $134,000 and I'm going to pay it back via income-based repayment (IBR). My husband also has student loan debt and is currently in repayment but not through IBR. I understand that if we continue to file our tax returns under Married Filing Jointly status my ...
    Published about 3 years ago | Rated: +7
  • +8

    People Retiring with Student Loans May Save Money with Income-Based Repayment

    I'm 68 years old, have worked for the last thirteen years in a state psychiatric hospital and after consolidating all my loans, have never missed a payment to Direct Student Loan in the last ten years. My original paper work says that I will need to make payments until 2031, when I'll be 88. I would like to think about retiring ...
    Published almost 4 years ago | Rated: +8
  • +5

    Should Borrowers Pay Off Old Student Loans to Qualify for the New 10% Version of Income-Based Repayment?

    I want to qualify for the "pay as you earn plan" 10% income-based repayment plan. I have $80,000 in Direct Loans from 2010-2012. I have a balance of $2,800 on an old student loan from the 1990's. Should I pay off the old balance before a certain date to make sure and qualify for the "pay as you earn plan"? Or ...
    Published over 3 years ago | Rated: +5
  • +5

    Questions about Qualifying for the Federal Parent PLUS Loan

    My son has been accepted to an expensive private non-profit college for the fall. We have been awarded a pretty generous financial aid package from the school (approximately $30,000) which leaves me with about $20,000/year left to finance. I make about $50,000/year. I will be applying for the Parent PLUS loan and have several questions. I'm in the process of refinancing ...
    Published over 2 years ago | Rated: +5
  • +8

    How Does Bankruptcy Affect Eligibility for Student Financial Aid?

    How does a chapter 13 bankruptcy affect financial aid? Would it be difficult to get financial aid for my child because my husband and I filed chapter 13 about 2 years ago? — C. F. A previous bankruptcy can affect eligibility for some education loans but it does not affect eligibility for other forms of financial aid. The Bankruptcy Reform Act ...
    Published about 4 years ago | Rated: +8
  • +8

    Can Parent PLUS Loans Get Income-Based Repayment and Loan Forgiveness?

    You've mentioned previously that while Parent PLUS loans are nominally eligible for public service loan forgiveness, they are not eligible for IBR or ICR, which leaves nothing left to forgive. Is there no relief for Parent PLUS loans altogether? Or, is there any way for Parent PLUS loans to qualify for loan forgiveness? — Anonymous Federal Parent PLUS loans are not ...
    Published over 2 years ago | Rated: +8
  • +6

    Are There Any Loan Forgiveness Programs for Social Workers, Teachers and Other Public Service Jobs?

    Are you familiar with any programs that could assist a low-income social worker who has used up his hardship deferments? Any assistance would be appreciated. I'm in a low-paying county, being paid a low income to assist disabled persons, and need help with my student loans. — Dave W. If your loans are federal student loans, such as Federal Stafford or ...
    Published about 4 years ago | Rated: +6
  • +29

    Programs and Scholarships to Pay Off Student Loans

    Programs and Scholarships to Pay Off Student Loans
    If you’re like the millions of students looking for a way out of your student loans; I've got good news for you. There are alternatives but, as with most things in life, there’s a tiny catch. What's the catch? If you’re willing to do some good for the world (gasp!) and volunteer, there are plenty of programs that will be willing ...
    Published over 1 year ago | Rated: +29
  • +5

    Does Filing a FAFSA Obligate You in Any Way? Are Parents Responsible for Repaying a Child's Student Loans?

    Does Filing a FAFSA Obligate You in Any Way? Are Parents Responsible for Repaying a Child's Student Loans?
    I have a question about filling out a FAFSA form for my child. If we fill out the form and my child is granted a loan for college, will the parents be cosigners or responsible in any way for their child's loan either now or in the future? — D.F. No. The Free Application for Federal Student Aid (FAFSA) is the ...
    Published about 4 years ago | Rated: +5
  • +14

    President Obama Proposes Student Aid Increases in State of the Union Address

    President Obama Proposes Student Aid Increases in State of the Union Address
    In the state of the union address on Tuesday, January 24, 2012, President Obama proposed several increases in student aid spending. The first two proposals call for Congress to extend existing student aid programs that are scheduled to expire this year. Stop the pending increase in student loan interest rates. The College Cost Reduction and Access Act of 2007 enacted a ...
    Published over 3 years ago | Rated: +14
  • +7

    Summary of President Obama's Budget Blueprint for Federal Student Aid

    This article summarizes President Obama's FY2013 budget proposals for the federal student aid programs. Most of these proposals will require Congressional approval before they can be implemented. The combined cost of the President's proposals are in excess of $10 billion per year. Editor's note: This article has been updated to reflect the education appendix to the FY2013 budget, as released on ...
    Published over 3 years ago | Rated: +7
  • +5

    Does a Parent's Credit History Affect the Student's Eligibility for Loans and Other Aid?

    My parents have a Federal Direct PLUS Loan they got while I was an undergraduate student several years ago. Due to their current financial hardship, they haven't been keeping up with the payments. I also had some college loans which I am paying regularly without problems. I would like to know if my parents' financial situation will impact my credit, since ...
    Published about 4 years ago | Rated: +5
  • +15

    Choosing a Student Loan: Public vs. Private

    Choosing a Student Loan: Public vs. Private
    Loans – it’s a pretty loaded word, especially when it comes to higher education financing. Though they all serve the same purpose – helping you pay for school – they can come from a variety of sources. All students are encouraged to file the FAFSA, which will determine eligibility for financial aid. With this form, eligible students have the option to ...
    Published over 1 year ago | Rated: +15
  • +53

    9 Ways to Pay Off Student Debt

    9 Ways to Pay Off Student Debt
    Do you feel like you’re drowning in debt? Many students feel like they’re never going to get out of the debt cycle. In fact, according to an annual Project on Student Debt report released in March 2014 from the Institute for College Access & Success (TICAS), “Seven in 10 college seniors (71%) who graduated last year had student loan debt, with ...
    Published 26 days ago | Rated: +53
  • +17

    Student Loan Rates Increase: the Impact on You

    Student Loan Rates Increase: the Impact on You
    On May 8, it was announced that student loan interest rates for the 2014-15 school year would increase for students borrowing from the federal government. Currently, the rates are fixed at 3.86% for undergraduate subsidized and unsubsidized Stafford loans, but next academic year, they will increase to 4.66%. Graduate and professional students can expect to see a 6.21% interest rate on ...
    Published over 1 year ago | Rated: +17
  • +4

    Is There a Better Option for Financing a College Education than a Parent PLUS Loan?

    I have a simple question: Is there currently a better option to help finance my sophomore daughter's college education than a 7.9% PLUS loan? That just seems a bit high given the current economic environment? — Alan S. When considering how to finance a college education, there are many options, including federal education loans, private student loans and non-education loans. It ...
    Published almost 3 years ago | Rated: +4
  • +7

    Private Student Loans Add Fixed Rate Options

    Student loan pricing goes through cycles. When fixed interest rates are high but variable interest rates are heading downward, borrowers prefer variable interest rates. When variable interest rates are low but likely to head higher, borrowers prefer fixed-rate options. A little over a year ago only one commercial lender, SunTrust, offered a fixed-rate option on its loans. Today there are eight, ...
    Published over 3 years ago | Rated: +7
  • +5

    Which Student Loans are the Best Ones to Borrow?

    I'm a first year and I'm searching for student loans with my mom and I'm not sure which one is the best one I should take out. Do you have any suggestions? — Joanna P. When comparing student loans, consider both the cost of the loan and the other benefits of the loan program. The cost of a loan is based ...
    Published about 3 years ago | Rated: +5
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