How do student loans work?
In short the so-called UK student loans are lifelong financial detriments when compared to what can be achieved without a Uni Degree.The ‘loan’ by the recognised awful Student Loans Company is sold without any ever knowing the full terms and conditions, part of the scam. Hence, at the whim of a nasty politician (all & any) , repayments have escalated to prevent many ever buying their own home or obtaining a meaningful pension plan?If that’s the life any wish for, be prepared to claim for benefits when all should be leading better lives?While many Uni/HEI courses are mis-sold as opportunities to earn much more the sad facts are confirmed that many students go on to earn around £19,000.00 pa.While we organise refunds to those mis-sold a Uni/HEI course and the unenforceable linked loans the most happy and financially successful appear to avoid student loans?Any needing course fees refunded plus loans cancelled go get a free review from www.projectslc.org
How do student loans work?
I'm very confused with how student loans work. I've heard off subsidized and unsubsidized and i dont understand either. also, is it a one time thing, as in, can you only apply for it once, or can you apply for it for somthing like every other month? detailed reponses are preferred
How do student loans work?
My mom and I were discussing student loans and how they work. I was under the impression that if I needed, say, $40,000 I would go to a company like Fannie Mae (Or whatever it is) and basically say "Hi, I need $40,000 for college please", but my mom says you need to show them your college receipt or something and they'll give you the money for the bill. If that's the way, how do students pay for laptops, books, etc? By the way, I'm not taking out $40,000 in student loans, it was just an example
How do student loans work in the USA?
I am just curious how exactly do students manage to pay as much as $45,000 per year in tuition at private colleges if they do not have grants or scholarships. Are their parents super rich or the students get government loans to cover their tuition, room and board and other expenses? And how these government loans work and are they enough to cover almost $60,000 of college expenses per year? For example, students here in the UK get a full student loan of £9,000 per year and about £5,000 for their room and board depending on how much their family earns. And you don't have to start repaying back your loan until you are earning well above £21,000 and even after that you just pay 9% of the amount you earn above £21,000 and the loan is written off after 30 years. How does that work in the USA? When do the students pay off their loans if they get one from the government?
What is an explanation of how my student loans work?
I thought I saw answers to this by people who seemed to know more about student loans than I do. You might be able to sue Citi if you had reason to expect an adjustment and Citi was supposed to process your application before selling the note. On the other hand, you could spend a lot of money on lawyers and then lose. The $25k discrepancy is also worth investigating, and you could even ask the collection agency about it. If you don't have ground to sue anyone then you can ask for a payment plan. Collection agencies often buy debt for a lot less than face value, and might take a negotiated partial repayment rather than fight for payment in full.
How does federal student loan work ?
Hey everyone , I was just wondering if anyone can explain to me how student loan works ? since it is my first time doing it I am a little confused. I have filled out and submitted my FAFSA and other necessary forms and I have also been accepted to a college , but I am confused about what happens now ? do I need to fill any other forms ? will the government will mail me a check or will the school call me to go pick up the money or will the government give all the money just to the college ? and what time of the year this will happen ? Thanks
How does student loan interest work?
For the Federal Direct loans (formerly Stafford loans) it works this way:There are subsidized and unsubsidized loans.There is a fixed interest rate declared for each year, and you have a different loan for each year in college. Thus after graduating in four years, you could have eight different direct loans each with a different interest rate and some would be subsidized and some not.For a subsidized loan the Federal Government does Not charge interest against the loan until six months after you receive your college degree, when the payments must start.For an unsubsidized loan, the interest starts as soon as the money is given to the college you are attending. However, the interest does Not compound until starting six months after you graduate when you must start repaying the loan.For a Private loan, (Bank or Sally Mae, etc) each has a different set of requirements, but they are either subsidized or unsubsidized (typically unsubsidized) and typically at a Higher interest rate than the current Federal Direct loan. I hope that helps a little.
How does a Sallie Mae student loan work?
All private loans like the ones you get through sallie mae will require you to have a cosigner with awesome credit and a long, stable employment history with an income high enough to make payments when you don't. If you dont have a cosigner, you won't get approved. Period. The rate will be twice or more of your federal loans and they will be variable rate loans... if you are to die or become disabled, your cosigner will still be responsible for repaying the loan. You can borrow UP TO the cost of attendance of your school, minus any other aid (loans, grants, work study, scholarships) you are getting. So even if your schools tuition is only 4000 for the year, the actual published Cost of Attendance is prob close to 15,000 a year. If you got a 5000 federal loan and no other aid, then you can borrow up to 6000 in a private loan. If I were you, id ask your parents to get a parent PLUS loan instead. They repay these loans and they are also low, fixed rate federal loans.