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StudentFinAidInfo - Student Financial Aid Information - Direct Student Loans
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Financial Aid FAQ
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Welcome to StudentFinAidInfoStudentFinAidInfo - Financial Aid FAQ, Direct Loan, Refinance Student Loan Question: Well, should I take the Direct Loan, or not?
I have to face the facts here that as an art student, classes are expensive and I have so far spent nearly $150 this semester between materials for a sculpture class and poster board and printouts for graphics. That wouldn't be a problem for me except, I chose not to take out the Direct Loan for this semester figuring that it would be something that I would not need for as long as I receive pay from work study and financial help from parents to keep going to school, but so far everything that deposits into bank account either goes toward rent, food, and if I should put it in these terms, passing a class, in other words "already spent". In fact, decision about a loan is the reason I have to take Sculpture and not Photography (where I would have had to buy a fully manual camera and black and white film totaling over $500). I feel like I'm at a tipping point here and I don't know what to do, getting a second job along with work study is not an option (there's no time).
In case you are wondering, I'm right now nearly $11000 in debt with loans, I don't really want to increase this number but I may have no choice.Answer: Try and struggle on without. You already have so much to pay ...
Try and struggle on without. You already have so much to pay back and you took this course for the very reason that getting a loan worried you. Eat more conservatively, drink water!Answer: No, you do have a choice. If your debt is that high, ...
No, you do have a choice. If your debt is that high, don't take another loan. The students at school will get together with their artwork and sell them, or have an exhibit and split the earnings. if you do that, you have to make sure that you aren't lying to the public about what the money will be earned for. You sound like your committed student too; apply for as many scholarships as you can!! They're easy to navigate (esspecially this one, I highly reccomend it) and you can get results based on your gpa, school invovlment, ethinicity, religion, marital status, just about everything. It's really good. Hope this helped ya. Just DON"T add to your debt hun, plz! Answer: I used to work for Direct Loans and sister still does, it ...
I used to work for Direct Loans and sister still does, it always best to avoid getting any further into debt. Getting a second job will take a lot out of you trust me!!! I got to school and work at a hospital, so I know how yo feel. If you do get the loan here are some fact that a little of students don't know-
1. as long as you are attending at least 1/2 time what your school considers to be 1/2 time (ask your counselor) your subsidized portion of your loan with not accrue interest. 2. the interest on the unsubsidized is a little less since your in school. 3. try to get subsidized loans, but with unsubsidized any time you can spare to send money to paying your loan do so, then call your loan holder and have them apply it to your unsubsidized portion. Every payment received goes interest first then principal. 3. you always want to check the status of your loan when you take time off school such as between semesters, DO NOT assume that the school is going to tell your loan holder that your will be attending after the summer break because they don't. 4. Once your school reports a change in status(like summer break) if your have not used your 6 months grace period, then you will be put into it. 5. once you go back to school call your loan holder and get a inschool deferment ASAP so when you graduate or withdraw or go below 1/2 time, you will have your full 6 months before payment is due. So I just gave you a little info I hope it's helpful if you have any other question feel free to ask, I used to work there up until 3 months ago. I know tons about Direct Loans...honestly getting a Direct Loan will not be that bad, because unlike other lenders Direct Loans is a very good company to have a school loan from as long as you stay up on your loan you will be ok, if there is ever a hardship all you have to do is call them and they can help you. You will be surprised how many people could save on money but they think that Direct Loans is harsh, but their not. I have Sallie Mae and they are ok as well. I liked job just not boss... Question: can anyone direct me to help with a student loan that's in default ? I'm want to complete my ed.?
the loan itself is 20+ yrs old its only been in defualt since 1999 the rest of the time in deferment any lead s will be helpful nedd some place to start...thanksAnswer: Well, hopefully you still know who your lender is so you can ...
Well, hopefully you still know who your lender is so you can contact them to make some sort of payment arrangements up. If you don't remember...then you can go to a couple of websites to figure out this information. Between the two sites you will have the lender info (name/telephone/website...etc) and who guaranteed your loans.
National Student Loan Data Systems www.nslds.ed.gov (Department of Education's database) National Student Loan Clearinghouse This website will tell you all the "student loans" that you have outstanding and the status of each one. www.nlsc.org/students - loan locator Just as it sounds...its a locator for your student loans. They will end up setting you up on a payment schedule and after you make so many payments on time..they will take you out of default status. Then you will be eligible to borrow more student loans if you need them and have not borrowed the maximum. Good luck! Answer: If you are burdened with high interest student loan for your ...
If you are burdened with high interest student loan for your higher education then you should refinance your student loan. As it may happen that with refinance student loan you may not have to pay anymore high interest loan for the existing student loans.
While talking about the refinancing a loan borrower means that he is replacing his existing student loans with a new student loan at lower interest rate and flexible repayment option. Borrower can refinance his multiple student loans from a new lender. While dealing with refinance student loan, borrower opts for lender who offers cheaper interest rate in comparison to the existing student loans. Despites its lower interest rate, refinancing also provide better and flexible loan repayment. Therefore, refinancing student loan can reduce borrower?s monthly payment. So, it can be said that with refinance student loan borrower can save money. With refinance student loan, borrower can switch over from an adjustable rate to a fixed rate and get better rates for his single loan. Moreover, borrower or student feels free as he is only responsible to a new lender for his debts instead of multiple lenders. Refinancing can be of great use to the bad credit borrower like CCJ?s, IVA, defaulters, arrear holders etc as it helps them to improve his credit records i.e. by complying with the loan terms and conditions. Borrower can refinance the student loan from various sources like banks, financial societies or institutions, online lenders etc. Online refinancing helps the borrower to avail the student loan at the lower cost as it helps in reducing the fee of the lender, feasible interest rate and other miscellaneous expenses like transportation. Moreover, online source provides cost- effective and reliable refinancing to its borrowers within a limited time span. Therefore, while selecting the lender borrower must not rush into it. He must make thorough comparison between various offers that are being offered by the different lenders so that each and every aspect is considered before refinancing. Refinance student loan helps the borrower to get his existing loans refinanced at lower interest rate and flexible repayment term. Answer: When a loan enters default status, it is transferred from ...
When a loan enters default status, it is transferred from your lender to the U.S. Department of Education Debt Collection Services (US DOE DCS). So your best bet would be to contact them. They have a toll free number 1-800-621-3115. You can also take a look at your loan history online via the National Student Loan Data System at www.nslds.ed.gov.
The US DOE DCS does have the authority to sell the loan to other independent debt collection agencies, so if that has happened, they should be able to provide you the contact information and name of any new agency that you must deal with. Once you have tracked down where your loan is being held, ask about what options you have to get the default cleared. Indicate that you are interest in clearing it for the purpose of regaining eligibility for further federal aid and the quickest way to do so. Generally speaking, they will require at least 6 consecutive, voluntary payments before the default is cleared. Once the loan is out of default status, you may qualify to apply for a consolidation loan to retire the defaulted debt and create a new loan, so that is something you may want to ask about as well. Question: Can I consolidate a PLUS loan, my direct student loans and a private loan?
I have way too many loans. Thankfully I finished college and got a good job. I heard that since the PLUS loan is in parent's name and the rest are in name, I cannot consolidate. Can anyone help me out here? thank you.Answer: unfortunately that's true. father made sure I was the ...
unfortunately that's true. father made sure I was the primary name on all loans but that he was also listed so that we could both make payments. he paid while I was in school and then once I graduated I took over the rest of the payments...after the grace period and getting a full time job of course. this allowed me to consolidate all loans except for the private one. for some reason, private loans dont allow consolidation but fortunately that was smallest one so now I just make 2 payments for 3 loans (2 public and 1 private). however, even though i'm not making one payment, I found out the company I consolidated with allowed me to make all payments to them only and not 2 seperate institutions which helps a lot with keeping track of everything.
my advice is:
see if you can get all the loans put in your name since you will be paying on them. most companies have no problem changing information for the person they'll be getting money from as opposed to the person they'll be giving it to.
find out which ones can be consolidated and then find a company that will take all of them, including the ones that cant (which will probably be the private one), so that no matter how many payments you have to make it will only be to one place.
if you still cant get a consolidation then see if your parents can since it's already in their name. then see if they can add you to it as another person allowed to make payments. even though they wont be paying anything, at least you will be able to as if you were the primary person. if you cant do that, then send your parents the money to pay it off and at least it will still be consolidated.
good luck! if I hadnt consolidated loans, the payments would have already gone up twice in the past 3 years since i've been paying it off. thank goodness for that because i'm stuck with them for the next 10-15 years and i've already got enough bills.Answer: It's a good thing that you're thinking about ...
It's a good thing that you're thinking about consolidation because it's a great way to lower your interest rates and to make monthly payments easier.
Unfortunately you can't consolidate your parent PLUS loan with your other loans because your parent must pay it. And you can't consolidate federal loans with private loans. But you can consolidate any federal loans together and any private loans together.
You can read more about student loan consolidation here:
http://www.studentfinancedomain.com/student_loans/college_student_loan_consolidation.aspx
Good luck!Answer: You can take help of a good debt consolidator. They can help ...
You can take help of a good debt consolidator. They can help you to overcome from debt. They will reduce your payment and help you to come out of debts.
To know more you can visit
http://www.debtmanagementguru.blogspot.com
and
http://www.easystudentloanconsolidation.blogspot.comAnswer: Here is an excellent site with some wonderful options 4 U. ...
Here is an excellent site with some wonderful options 4 U. Check it out??..
Refer Loan Consolidation Section
http://lnk.in/56f2Answer: the plus loan will be in your parents name, so no, but there ...
the plus loan will be in your parents name, so no, but there are companies that will consolidate you private and federal loan separately, but still give you one payment.
I work at nelnet, but there is also citibank, sallie mae, cfs, acs, etc... I cant speak for anyone, but we have no fees or prepayment penalties.
shop around to get the best deal. your parents can also sign with the company you choose, and have statements sent to you. that is about the closest you can get with the current federal regulations.
good luck.Answer: Hello! I Got This For You. As Always, It's Always Better ...
Hello! I Got This For You. As Always, It's Always Better That You Get The Info Firsthand. So Better Check It Out Yourself, Im sure You'll Discover Something...Question: Have anyone heard of the William D. Ford Federal Direct Loan Program?
I'm thing about doing a loan since I know for a fact that I will not be able to have the amout for college by january by myslef. My uncle told me about this since he has done this loan himself.
The only part that got me was that they want you to do a fafsa. The last time I did this, I wasn't able to recieve anything. When I called them they told me that one of parents made too much. To me it shouldn't matter if parents made too much or too little, It's me who going to college, no them.Answer: I believe that the William D. Ford Federal Direct Loan ...
I believe that the William D. Ford Federal Direct Loan Program is where the loans come from that you go through FAFSA to get.
I believe that you can apply on your own without your parent's information.
Try this web site:
http://www.dl.ed.gov I just checked the paperwork I used. Try THIS web site: http://www.ed.gov/offices/OSFAP/DirectLoan/index.html Good Luck! Answer: Yes--one of loans last year was from this program. I ...
Yes--one of loans last year was from this program. I received it through FAFSA, although as the person above me said, you should be able to get a loan without your parents' information. Try asking about loans at your local banks and credit unions, because they usually offer financial aid to students in the area.
The reason your parents' income matters is because, as a student, the government expects your parents to help you pay for college. If your parents make a lot, they expect some of that income to go towards your tuition, so they don't give you as much financial aid. If your parents didn't make very much, or if you were financially independent, they would probably give you more financial aid because you wouldn't have your parents' income to rely on.
Also remember that you can go to scholarship search websites like Fastweb.com and enter all your information, and they'll look up scholarships and loans for you!
Best of luck!Answer: Colleges and universities either use the FFELP (Federal ...
Colleges and universities either use the FFELP (Federal Family Educational Loan Program) or the William D. Ford Federal Direct Loan Program. With FFELP schools, students are alble to choose whatever lender they wish to finance their Stafford Loan; with the Direct Loan Program the federal government is the lender. Both are part of the Stafford Loan Program.
If you are considered a Dependent student, then you must use your parent(s) information to complete the FAFSA (Free Application for Federal Student Aid). The FAFSA generates an EFC (Expected Family Contribution) that schools use to determine a student's financial aid package.
It doesn't matter what your parent's make - if you are eligible for a student loan then you will receive it. It may be an Unsubsidized Stafford Loan (interest accrues as soon as the loan is disbursed) as opposed to a Stafford Loan (interest is deferred until six months after graduate or withdraw from school), though. More information regarding student loans can be found at www.finaid.org/loans.
You should talk to a financial aid officer at your school for more inforrmation. Good luck!Answer: If a lot of time has passed since you last applied for fafsa ...
If a lot of time has passed since you last applied for fafsa it could be you are finally considered independent and dint need parents income. 24 yrs old and up. However, you can get a federal loan no matter your parents income, and you don't need a cosigner. Here is a good publication about fin aid and the loan info is in the back.
Good luck.Answer: if you want to get any loan you can try something else. ...
if you want to get any loan you can try something else. Actually W. D. Ford will give loan through third party that means you have to apply for FAFSA and if you are granted you get one. So it will be 50-50 chances for you. Try to take out some student loans which are direct and good. You can easily apply online with a cosigner and get one. You can also try for some scholarships.
To know more you can visit
http://www.easystudentloan.blogspot.comQuestion: How long does it take to recieve your finacial aide and Direct Loan Check?
I was wondering about how long after you have applied for Finacial aid and applied for a Direct loan do you get your check?Answer: It completely depends on how your Fin. Aid office handles ...
It completely depends on how your Fin. Aid office handles your paperwork. Usually about around the time you can register for classes for the semester the money applies to. The 1st time is always the slowest because they verify all your info.Answer: After you have completed the FAFSA you will receive a SAR ...
After you have completed the FAFSA you will receive a SAR via mail - the school you have chosen to attend receives it as well. Disbursements of Pell Grants and Stafford Loans are done based on the school's Disbursement schedule - check with the financial aid office at the institution you are attending. |