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  • +6

    Does Consolidating Student Loans Save Money Like a Refinance?

    I have a question concerning consolidating my federal loans. I have some that are subsidized and some that are unsubsidized. Can I combine these at a lower interest rate? I have graduated from college and will soon be starting to pay back my loans. My unsubsidized loans are at 6.8% and subsidized are at 5.5%. I also have many DEAL loans, ...
    Published almost 3 years ago | Rated: +6
  • +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 almost 3 years ago | Rated: +6
  • +6

    When Can a Student's Grandparents Substitute for the Parents on Financial Aid Forms?

    If a student lives with a grandparent, is there any way the student can use the grandparent's income tax information on her FAFSA? I have lived with my grandmother for all 17 years of my life. My parents currently pay a small amount of child support to her, but that is the only financial support that I receive from them. My ...
    Published over 2 years ago | Rated: +6
  • +6

    How to Deal with a Defaulted But Paid-Off Student Loan that Reappears

    Years ago, I went to a two-year school and obtained my Associate's degree. I defaulted on the loan. However, my taxes were taken years later (twice) to take care of the loan. In 1995, I enrolled at a different college and was awarded the Pell Grant. I didn't take out any more loans. I paid the difference with a scholarship from ...
    Published about 2 years ago | Rated: +6
  • +6

    When Does Repayment Begin on a Subsidized Loan?

    When does a student have to start paying back a subsidized loan? — A.A. If the loan is a subsidized Stafford loan, repayment begins 6 months after graduating from college or dropping below half-time enrollment status. If the loan is a Perkins loan, repayment begins 9 months after graduating from college or dropping below half-time enrollment status. The 6 or 9 ...
    Published over 2 years ago | Rated: +6
  • +6

    Will the New Rate Cut Affect Your Student Loan?

    The federal government's newest rate cut could have an impact on some student loans. Learn how it could affect your student loans below. Q: How do I know whether this rate cut affects me? A: The rate cut will affect recently-graduated students for whom ALL THREE of the following are true: 1. You're within the six-month grace period following graduation AND ...
    Published almost 7 years ago | Rated: +6
  • +6

    Congress Proposes Cutting Student Financial Aid in FY2012 Federal Education Budget

    The U.S. House of Representatives and U.S. Senate are considering proposals to cut student financial aid in the FY2012 federal education budget. Rep. Denny Rehberg (R-MT), chairman of the House Appropriations subcommittee with oversight over education spending, released draft legislation (H.R. 3070) on Friday, September 30, 2011, which includes several changes to student financial aid for college. The legislation was referred ...
    Published over 2 years ago | Rated: +6
  • +6

    Repayment Begins for Students Who Graduated in May and June

    Students who graduated in May or June are nearing the end of the six-month grace period. The first monthly loan payment is usually due in November or December. Don't Be Delinquent Unfortunately, about a third of borrowers are late with the first payment on their federal student loans. This is called a delinquency. There are a variety of reasons why students ...
    Published over 2 years ago | Rated: +6
  • +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 about 1 year ago | Rated: +5
  • +5

    Can a Family on Fixed Income Afford to Pay Double for an Out-of-State Private College?

    My husband took early retirement so we are on a fixed income. We set aside enough money in various college funds for our daughter to attend any in-state public college. However, she is interested in an out-of-state private college that costs approximately double what we have saved. We are researching scholarship opportunities but wonder how the fact that we are retired ...
    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 about 1 year ago | Rated: +5
  • +5

    Should Parents Pay Off Credit Cards Before Applying for College Loans and Other Aid?

    Why is it better for parents to pay off credit cards (if one can) before obtaining loans for a child for college? — Diane H. Most forms of consumer debt, such as credit cards and auto loans, are ignored on the Free Application for Federal Student Aid (FAFSA). Even education loans are ignored. The only exception to this rule occurs when ...
    Published almost 3 years ago | Rated: +5
  • +5

    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 almost 3 years ago | Rated: +5
  • +5

    Wells Fargo Adds Death and Disability Discharges to Private Student Loans

    Wells Fargo announced on December 17, 2010 that it is adding death and disability discharges to its private student loan products. When the student borrower dies or becomes totally and permanently disabled, the remaining debt will be discharged. This new policy applies to all Wells Fargo private student loans, including loans with a cosigner. Total and permanent disability is defined as ...
    Published over 3 years ago | Rated: +5
  • +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 almost 3 years ago | Rated: +5
  • +5

    Borrowers with a Recent Bankruptcy are Ineligible for the Federal PLUS Loan

    Borrowers who have had a bankruptcy discharge in the last five years are generally not eligible for the Federal PLUS loan. They remain eligible, however, for Federal Stafford, Federal Perkins and Federal Consolidation loans. Section 428B(a)(1)(A) of the Higher Education Act of 1965 [20 USC 1078-2(a)(1)(A)] specifies that borrowers of a Parent PLUS or Grad PLUS loan may not have an ...
    Published about 2 years ago | Rated: +5
  • +5

    A Prospective Student is Ineligible for Financial Aid Because of a Student Loan Default

    I gave college a shot when I was 18 and dropped out due to major health problems. Student loans obviously did not disappear because of this and I have been struggling with them ever since. Now at age 24 I finally feel that I am healthy enough to give school a second try. I thought I had every detail worked out ...
    Published over 2 years ago | Rated: +5
  • +5

    Tax Breaks for Student Loans

    Tax Breaks for Student Loans
    Good news! The interest you pay on your student loan might let you pay less on your taxes. Thanks to the Taxpayer Relief Act of 1997, tax time will be a little better for you and other student borrowers. How It Works Depending on your specific loan situation, you may be eligible to deduct some of the interest you pay on ...
    Published over 6 years ago | Rated: +5
  • +5

    Should Students and Parents Who are Close to Retirement Borrow to Pay for College?

    I am 47 and recently divorced single parent of two children, ages 7 and 8. I spent the last 9 years as a stay-at-home parent. As a result of the divorce, I am re-entering the job market. My last position, as a training and development specialist for a bank, earned roughly $45,000. It has been somewhat difficult obtaining full-time employment and ...
    Published about 2 years ago | Rated: +5
  • +5

    Questions about the Health Care and Education Reconciliation Act of 2010

    If you have already graduated from college, will you be affected by the new changes to student loans in the health care bill? — Lauren A. No. None of the changes enacted by the Health Care and Education Reconciliation Act of 2010 will affect students who have already graduated. Starting July 1, 2010, all new federal education loans will be made ...
    Published about 4 years ago | Rated: +5