college loan

college loan questions and answers

More information about college loan at Education News.

Q: Can you get a college loan but still keep your disability payments?
I'm on disability right now and was thinking about going back to college. Can I keep my disability but apply for a Stafford loan or other financial aid?

A: I am a disabled veteran and my life is run by the Veteran's Association. My hospital and all my medicine come from them. But it did not stop me from working when I felt like it in my younger day's at a sheltered workshop. I am disabled and handicapped also. But I think it just would be the best thing to where ever you go to apply take along any paperwork about your disability. Just to keep any and every one happy. Good Luck and I wish you the best.

Q: Where can I get a college loan for an out of state college?
Like if I live in Maine and I want to go to college in Maryland, would I be able to get a loan? And How?

A: Your best bet is to go to fafsa.ed.org. This is a federally funded financial aid program, and the financial aid you are eligible for will be applied to the school you choose. Loans, and grants such as Pell, are not dependant on state. I go to an out of state college, and receive loans and Pell. Every loan I have is from banks that are nationwide, such as Wachovia and Wells Fargo, so the loans can be used in any state.

Q: What's the best way to get rid of college loan debt?
My husband and I both have a large sum to pay off on our college loans and we are having to pay the miniumum at the current time b/c we are paying a high mortgage payment. Is there any creative ways to make money to start paying and saving more $?

A: I refinanced my house, added the college loan to it, and extended the years of the loan. Why? 1. Lower interest rate on home loan. 2. interest on home loan is tax deductible 3. colsolidation of loans meant less money paid out monthly

Q: What is the best place to get a loan for an Australian College if you live in the U.S. and want to move there?
Specifically Western Australia in the city of Perth. I'd like to know about college loans too.

A: I think we have a different system here in Australia - there is no such thing as "college loans" . You either pay up front or you wait until you are earning money and the government takes your HECS fee out of your income tax once your pay reaches a certain threshold. You then pay a couple of per cent extra tax each year until your debt is paid off. Assuming you are not an Australian citizen, I think they would want you to pay up front for your course.

Q: How can I track my loans from College Loan Corporation.?
I need to know exactly how much I have accumulated on my loans from the college Loan Corporation for some peace corps paperwork. How can I login somewhere to get this information?

A: Tanie - I would suggest that you call them. I looked online, and I don't see any indication that there is online account access. I find that kind of hard to believe - but if it's there, they sure it hid it well. Customer service reps from the company are supposedly available 24 hours a day, 7 days a week, so if you pick up the phone and give them a call tonight, you'll have your answer right away. The number is: 1-800-2-College I hope that helps - good luck!

Q: How can I find out if i owe a student college loan?
I would like to go back to college but I defaulted on a ndsl loan back in 1976. my income tax was taken in 2001 but I have never heard from the education departmewnt ever again. I went Fredonia State university in NY State

A: Try your credit report? or where ever you had the loan through and ask them if you owe anything, usually all you need is your ss number to find out through the loan company

Q: I was turned down for a college loan from JP Morgan Chase, where can I go now ?
After applying I was turned down, however they say they might reconsider if they can be convinced. What can I do to show them I desperatley need this loan as a single parent of three trying to finsh my last year of of college. I hve no one else to borrow from to pay off this college debt. I already work two jobs and every penny is spent even before I get it sometimes. Where else canI look for funds to pay off debt from school?

A: hello there, Your credit doesnt matter when it comes to student loans..(as long as its a stafford or direct loan) Unless of course you are trying to get a loan throug ha company like Chase, Citi Bank, Sallie Mae, etc.. These huge companie shave enough business coming in that they can pick and choose who they lend money to.. It s sad but unfortunately its corporate america.. I work with a company called Student Aid Lending, we do both student loan origination, as well as student loan consolidation... My compmay is nationwide, and we are administered by the Department of Education... They regulate the entire process from start to finish... When you have a chance, contact me either by email or phone, and then i can help you through the process.. If you would like, you could also check us out online.. www.studentaidlending.com Look forward to hearing from you! Jason Fry 1-800-964-0642 ext. 114 jasonf@studentaidlending.com

Q: with the money from a college loan, can i rent an apartment instead of a dorm for school?
because some colleges dont have dorms. andi need a place to stay but not much money yet. so i was wondering if the loan can cover an apartment in the area for the school as well?

A: Yes. That's how I've paid for my housing all through college and law school. You may have to sign a lease first and submit it to your school financial aid office in order to increase your budget enough to be allowed to take out enough money to cover your rent, but yes, it can. The best thing to do is go to the financial aid office and ask about the yearly budget for a commuting student. Even if you're moving to be near school, you'll still be considered a commuting student since you're not living in campus housing. Then, try to find an apartment you can afford within the confines of that budget. The budget will be broken down into different expenses like books, rent, travel, incidentals and that will be the maximum amout you're allowed to take out in loans unless you have receipts (or a lease) that show you need more than the set budget. Good luck.

Q: How much College student loan do you owe?
Right now, I owe $17,000 US in College loans. Is that a lot, or do people have more than that. Is it not that bad. Can anyone relate.

A: I currently have over $50,000 in college loans. I have about $30,000 from my associates at a private college and my bachelors at a large univeristy. Now I'm accumulating more for my masters!

Q: What private college loan lender is most lax on approving credit with a co-signer.?
Sallie Mae won't help me out at all, and I'm having a real hard time just paying for community college. My cosigner has good credit, just has cosigned on too many of my brother's loans. I really need to pay this semester off and I don't know what to do. I've exhausted my federal options yet there is still about $4000 left for me to pay, and a private student loan is really my only option if I could get one!

A: You can get a federal loan like a Stafford loan with no credit check or cosigner. Don't do private loans, they are evil. Apply at www.fafsa.ed.gov

Q: Where can I get a college loan? And not pay for it back?
I've heard that I can get a student loan and not pay them pack. Like the government would pay for me to go to college. The government just paid for my cousin's friends college. I can't get a hold of him, so I need help trying to find a website or number. Can anybody help?

A: Each year you need to apply for FAFSA. By completing that form, the college you attend will determine if your eligible for loans (including the kind you don't have to pay back, lol). You should talk to the financial aid office of the college you're attending too.

Q: What is it like paying off a 100,000 college loan dept ....how was your life like after college paying it off?
When I go to college I want to be a computer Engineer and I know I will rack up atleast 100,000 dollars in dept because of loans but, the schlarships will help out a bit and I just want to know is living after college impossible with college dept like this ?

A: that debt would earn you a payment of 1000 a month for 10 years or more. Good rule of thumb when borrowing is never borrow more than you would expect to earn your first year of college. This assures you will be able to afford the payments. Computer engineers don't earn this their first year, but I would not borrow more than $20,000. Start at a community college, look for lots of scholarships, ask parents or other relatives to help you. Don't go to an out of state or private school. Good luck. loans should only be used as a last resort and id reserve them for your last TWO years of undergrad or beyond, this way you know you will graduate.

Q: What is the disbursement amount on a college loan?
If for example I have a Stafford Subsidized loan for 5,500 and my disbursement amount is for 2,700, what do I actually owe when I have to pay the loan? What is the disbursement amount? If that is what I owe, who pays the other 2,800? Thank you!

A: If your loan is 5,500 you will owe 5,500. The disbursement amount is how much they give you after your tuition and fees have been paid, usually in the form of a refund check or direct deposit.

Q: What are the positives and the negatives about getting a college loan?
I have a hard time getting a job that will be flexible with my classes, so I'm trying to get advices if it would be fine to just not worry about the job part and go to school full-time, like I am right now, while living off a loan and pay it all off by the time I graduate.

A: I think it is worth anything you have to do to get your education. Do not put it off. Student loans are the only option I had, and I can see the worth because I will have a greater earning potential when I graduate.

Q: Can I apply for a college loan to pay for my rent?
I would like any info from anyone who has applied for a student loan in order to finance an apartment. Is this possible? I am considered as an 'In State' 'Off Campus' student . Names of lenders or organizations would be appreciated. Thanks!

A: You can use money obtained from a student loan for any purpose that will assist you in going to College/University. Repairing your car, paying your rent, buying your books... whatever. Just remember how hard those darn loans are to pay off when you do graduate or drop out. You have to pay off the interest FIRST then you get to pay on the principle. The problem with this is the principle is continually drawing interest. So unless you can make your regular payment on the interest, then make a payment toward the principle you will NEVER get it paid off. OKOKOK You will get it paid off but it will take you forever. GOOD LUCK!!!!!!!!