Settle past due college tuition?
My sister owes tuition to a college she briefly attended in 2009. She is making payments which just covers the monthly past due fee. This is not a student loan and the school will not release transcripts unless the tuition is paid. My parents are in no financial situation to pay the tuition. They lost their job and business in the middle of a school year which was the reason the tuition was not paid in the first place. That said, she is trying to transfer to a school this fall and she obviously needs transcript to transfer. She was there only for a quarter and the rest of the transfer credits were earned in a community college. While attending community college, she has been working part time to save up some money. But at this rate, she won't be able to go back to university in at least 5 years. Now that she has saved up some money from a part time job and that I can contribute from my savings, what would be the most ideal way to approach to the school to settle her tuition at a lower balance if that's possible at all. Taking all the money available at this point, we can payoff about 60% of the balance. I would greatly appreciate any thoughts or advices. Thanks.
How can I get a loan to pay an outstanding tuition balance at my undergraduate college?
Make sure the FAFSA is filled out and even ask the finacial aid officer at your school for some advice. But don't get a loan from outside sources. Stafford loans and College foundation loans have low interest rates and give you awhile to pay them off. CItibank, mastercard, bank loans, etc have high interest rates and will want their money ASAP. So try to get a school loan but whatever you do, don't use outside loans. Also they are credit based so without a very solid credit file you may not get approved for the whole amount and will need more than 1 loan which makes no sense. Just get a regular stafford loan or other school loan and you can get the amount covered. Also Sallie Mae loans are expensive (at least they were for me) and had high interest rates. I wouldn't recommend them or any other outside loan companies.
Can I take a less loan than my college fees?
How much you want banak loan is entirely your discretion. You can apply for the entire college fees as loan or if you are able to pay part of the fees from your income, then in that case, you can apply for the balance amount as a loaan from a bank. Only you know how much money you have and how much bank loan you require. Accordingly, you can decide and apply for a loan from a bank. DR. M J SUBRAMANYAM
College Tuition Payment Question?
I'm kind of freaking out because my tuition deadline for college is due tomorrow. I filled out my FAFSA very late ( just about a week ago), and my financial aid won't be processed until about 6-8 weeks or so. I'm planning on using the Tuition Payment Plan in which I pay monthly for 10 months. When I contacted the college through email a few days ago, they said I can renew my tuition payment plan, which is the monthly payments. Also, "Accounts not finalized by JUNE 15 may be dropped from fall classes." What does "accounts not finalized" mean? Is it about payment or just confirmation about how I will pay? I will greatly appreciate anyone's advice on this situation. Thanks!!
What kind of loan should a college student get? ?
My first suggestion would be to get a Federal Stafford loan. They are the best because you don't have to worry about interest rates because they are fixed. Because your financial need is so high you will most likely have to look into private loans. BEWARE!! There are so many company's, banks, institutions that offer loans. Read the find print and remember the interest rate. Bank of America and Suntrust are pretty good.
Can I Purchase A Laptop With A College Student Stafford Loan?
Loans for students help the student to deal with all the expenses that are to be incurred during his education phase like it includes entire cost of the student’s education from tuition fees, accommodation, books, and computers to transportation and many more. Before raising loans for students borrower must look into the amount that a course require so that on basis of the amount borrower can raise the loan amount. This amount is depended upon the fees and other expenses that the borrowers want to cover under student loans. Student with bad credit can also avail loans for students as for that student have to take the loan along with a co-signer who has a good credit history. This way interest rate is also lowered otherwise they may charged little higher interest rate. http://loan--house.blogspot.com/2008/03/student-education-loan.html Many Banks, financial institutions, online lenders etc are ready to offer the loans for students. But students considering their precious time and finds easy to via online as it provides easy access than other source. There are a large number of requirements other than college or course fees. Some of the most crucial are computer expense, hostel charges, and books and so on. The best college student loans are one which comprises all such expenses. But, to qualify for any such one, you have to give it your best shot as far search is concerned. Such purpose can be accomplished by exploring World Wide Web. You will find an innumerable number of lenders offering college student loans. http://loan-house.we.bs/studentloan.html
In your opinion, are student loans designed to keep the vast majority of people who have them poor?
No, the government didn’t come up with the idea of student loans to make people poor.President Lyndon Johnson is “famous” for the “Great Society” and for mishandling the Vietnam War. No one remembers that he also planted the seeds for the Student Loan Crisis by leading the government into taking massive steps into intervening in the financing of post-secondary education.As part of LBJ’s Great Society domestic agenda, Congress passed, and the president signed, the Higher Education Act of 1965, which established multiple grant and loan programs to make it easier for students to pay for college.He probably meant well, but it’s a pretty good bet he had never heard of Austrian-American economist, Ludwig Von Misis.I dug out my copy of Interventionism: An Economic Analysis. I’m going to paraphrase Von Misis,“Government intervention usually has unanticipated consequences that create the need for still more government intervention.”Does this sound familiar?In 1986, two decades after the Higher Education Act was signed, the outstanding school loan balance for students and parents was a miserly $10,000,000,000.Thirty-two years later the balance had reached the astronomical sum of $1,500,000,000,000—ONE HUNDRED FIFTY TIMES.What happened?Forty-five percent of high school graduates are going on to college now versus thirty percent. The market is saturated. Many of these students drop out or end up underemployed.The cost of college has increased almost 300%.Wages have been flat, destroying the ROI of many college majors.Frankly, I’m having trouble getting my head around that number. This is the perfect financial storm.
Taking out student loans without a co-signer?
I am finding it quite difficult to take out any student loans for my community college. Contacted the financial aid services and they said I do not qualify for any types of loans. I don't have any credit history nor do I have a job. My college s paid for, but I have nothing to cover additional expenses for my semesters, is there anyway to get a loan to help cover for textbooks?
Can tuition debt owed directly to a University (not a loan) be discharged in bankruptcy?
If you are absolutely sure that you didn't sign anything or take out a loan through the university to cover your tuition and/or board, then it is likely very possible that you'll be able to discharge the debt when declaring bankruptcy. However, if you realize that the debt amount was originally provided as a loan by the university, there might be more hoops to jump through when filing. According to a study published in the American Bankruptcy Law Journal, at least 40 percent of borrowers who include their student loan debt in their bankruptcy filing end up with some or all of their student debt discharged. The sad thing is that most people don't even try to get their student debt taken care of because of various myths surrounding bankruptcy procedures. Different formulas are used specifically to test if your student loans are eligible to be discharged — the most common of which is the “Brunner Test.” Under the Brunner test, your student loans can be completely discharged if you can prove undue hardship with the following parameters:You are having trouble maintaining a minimal standard of living based on your current income and expenses if you are forced to repay your student loans you’re your current conditions exists, andThese problems may persist for a long period of time; andYou made a good faith effort to repay the student loans while you could. If you need specialized advice about how to proceed with bankruptcy or discharging your debt, feel free to reach out for a free consultation with a bankruptcy expert in your area. Good luck!