college loan

college loan questions and answers

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Q: college loan?
i was wondering if anyone can get a loan i plan on going to college for Toronto. so i would need about 10$ for 3 years.. how does it go for paying off again? and such.

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Q: What happens to my college loan when I transfer schools?
I am planning to transfer, I assume you might not be able to take the loan with you. Since college loans want you to wait until after college to start paying, will transferring to another school in the meanwhile, mean that I will have to start paying soon after I transfer or after I'm done with school altogether? how about loans with banks?

A: It will transfer, because it is federal. Call the school that you are going to transfer to. Talk to the financial aid dept. They can help you with the transfer of funds...

Q: What is the best way to for college if you need a personal loan to pay tuition?
Evidently I'll need to get a loan to pay for tuition since my parents have run out of funds to help with my tuition. What is best way to apply for a college loan that I can pay back once I graduate from college?

A: go to www.fafsa.ed.gov and enter in all the required information. You might be required to put your and your parents income. This is the beginning process of taking out a student loan-the ones you don't have to pay back until you graduate or drop to less than half time. It takes awhile to get the paperwork processed. Good Luck.

Q: How can I get a loan for college with a low credit score?
I need a college loan for school which is starting soon. I have a grant but it's not enough. My problem is that I don't want a co-signer, I'd rather do this on my own but my credit score is low. I don't want a payday loan as I've heard they are a disaster and I don't want a hassle. I just need a small amount of money to get me through. Please help!

A: If you need a small amount of money, maybe you could check whether your school offers short term/emergency/book loans. Also, when you say you have a grant, I'm assuming it's a Pell Grant and you filled out a FAFSA. If this is the case, your school's financial aid dept should be able to tell you how/if to apply for a student loans. Because Federal Student Loans are backed by the government, they don't look at your credit score in the same way other lenders do. good luck

Q: Can I get my college loan interest back?
Can I get my college loan interest back? I am a recent college graduate living in New York State, making 27k a year. I currently have consolidated college loan payments that I am paying (unfortunately only paying the minimum for now) each month. When tax time comes around, is it true that I can get back the interest that I paid in the previous year on my college loan? How do I go about doing so if this is true? Thanks!

A: Sallie Mae explains the tax incentives of student loans on its site: http://www.salliemae.com/before_college/students_plan/ways_to_pay/tax/tax.htm

Q: Would it be possible to cosign for a college loan after using a DMP (debt management program) ?
I am considering a DMP (debt amangement program) but I have 2 children in college and I will need to cosign for their loans? Would I be able to cosign before I finish the program? If not, how long before I could cosign a college loan? The payments would be deferred until after graduation.

A: I was with a DMP, and I was able to get college loans ($26K worth) with no problem. Now, your situation may differ, becuase you are cosigning, but I really doubt that would make a difference. But, to answer your question, it can be done. It really falls back on your credit worthiness.

Q: How to qualify for a college loan as an adult?
Hello, I am looking for more info on student/college loans for adults. I am a 28yr old male in Florida looking to complete my bachelors degree in something IT-related, Does anyone know of any free grants, scholarships, or other free money; also dont you have to make a certain amount of money to qualify for a loan, Well the reason I am trying to go back, is because my career is not stable(graphic arts) and pays like crap(even with 5 yrs experience. Catch 22 , so how can I qualify for a loan??? Need serious help asap Any feedback would be appriciated. Thanks

A: Once you go to FAFSA then the college you wish to attend they will point you in the right direction. http://www.salliemae.com ( For student loans)!!!! http://www.iefa.org -------> International Students on the web <---- http://www.about.com --->Great search engine and information site for everything <--- http://www.ed.gov/index.jhtml --> Dept. of Education for any questions<-- http://www.fastweb.com http://www.gocollege.com http://www.collegeboard.com http://www.scholarships.com http://www.walmartfoundation.org... Please go to the Department of Education for more help and a list of student loan foundations. Good Luck!!!!

Q: Which bank is good to get a student college loan from?
I'm currently a freshmen in college in California and was wondering which bank would be better to apply for a loan? I with wells fargo myself for a credit and checking account. Also will there be interest rates since its a 'college loan'?

A: Go to the financial aid department at the college you are attending (or planning on attending). They'll be happy to point you to reputable local lenders.

Q: Can cosigning for friends college loan impact personal credit rating or score?
I am trying to buy a house however my friend needs me to sponsor her college loan. If I signup to be her cosigner, would that directly or indirectly impact my creadit rating or score? I would like to help my friends but afraid of not qualifing for home loan or better interest rate

A: Hello --- don't help your friends. They cannot get a loan cause they do not pay their creditors. If you CO on a loan it will definately affect your ability to get a home loan. Earnings to debt ratio ... If she defaults on the student loan then you have to pay it off--Thats right you-- I get the feeling that you are being set up to get stuck for a student loan by a pretty lady. Don't be so gullable... ABSOLUTELY DO NOT SIGN ANY PAPER TO COSIGN ON A STUDENT LOAN --- CAR LOAN --OR ANY KIND OF LOAN. YOU WILL PAY WHEN THE PAYMENTS ARE MISSED---IT IS THE LAW. Techanically it is your loan and you gave her the money. You loan her the money on an installment agreement and when she does not pay --- go to small claim court and recover some of this money.

Q: What is a reputable Student College loan company?
I'm going to college in Spring, and I need a student loan. I have a cosigner, my mother, and need to look over lenders. I'm considering CitiBank. Please let me know

A: Don't apply for any loan from a bank until you've exhausted all federal loan options. Check this first! http://www.fafsa.ed.gov/ Then if you aren't able to get federal loans or you find yourself short funds, try for some scholarships/grants. You can find links to a list of sites that specialize in them at http://www.studentloanadvisors.com Finally, if you still need a loan, apply for a private student loan at http://www.studentloanadvisors.com

Q: Whose income do they look at when applying for a college loan?
My ex-husband has a BIG income, I've got a small income. Both of us are remarried. Who's income will they look at when applying for financial aid or a college loan? My daughter lives with me if that makes a difference.

A: Are you referring to you or your daughter? If you are referring to yourself, your new husband and your income will be looked at. My husband and I made over 60,000 (he made most of the money)v last year and I received 10,500 for the 07/08 year. If you are referring to your daughter, whoever carried her on their 06 taxes income will be looked at. Being a dependent student lower how much aid you will receive. If she would have worked a part time job and filed her own taxes she would be independent and would receive more.

Q: How Do I get a Co-Sighner For my College Loan?
I live in USA, but I want to go study in EUROPE. Im thinking about applying for a Internation Loan. I graduated last year, and I saved some money for College by now. The problem is I need a CO-Sighner. Who can be my Co-Sighner, And where can I find him/her?

A: Usually at this stage a co-signer would be a family member: parent, grandparent, aunt or uncle or other relative who has a stable career and financial track record. A co-signer is agreeing to be responsible for the loan in case you are not responsible so logically it would be someone who knows you well, knows your capabilities and integrity toward responsibilities, and trusts that you will be responsible for this money. Anyone who would agree to be a co-signer who did not know you well would be a loan shark who will probably charge you a stiff fee for this. . . .be very careful if you are seeking support from people you don't know and trust too.

Q: How wise is it to take out a college loan?
I have three choices. One is go to CSU Fullerton, which is affordable. In that case, I could live at home and not have to take out any loans. Or, I could go to Santa Monica College in Los Angeles. I wouldn't have to take out any loans either, but I would have to get an apartment, so it's a bit more expensive. Or I could go to Richmond, the American Int'l University in London. This option is approx. $40,000 US dollars a year, and I would have to take it all out with loans. I would absolutely love to go to the school in London, but is it wise to make such a commitment for repayment? The length is a 30 year term, so I would be like 50 or something by the time it is all paid off.

A: Ok, how about a compromise? Why not take your first two years at CSU and save up some money that you won't be using on apartments and tuition and put it towards your last two years in London? If you can take your general education requirements close to home inexpensively and transfer them in your junior year it makes excellent sense to put off borrowing as long as possible and cutting down both the amount to be repaid and the length of time it takes to repay it. This is a case where you should be talking to admissions counselors and transfer counselors at both schools before you make any decisions without all the right answers.

Q: Does it hurt my chances to get a college loan if I purchase a house or a car just before the loan is needed?
My son is 16 years old, my daughter 13 years old. I'm living in an apartment, my car has 120,000 miles on it. The business I own is growing. Should I buy a house,take a mortgage, deduct the interest, and put $25000 down? Should I buy a new car to replace the old one that is dying? Will buying major assets increase or decrease my ability to get loans to pay for their college education?

A: Buy the house if you can afford it. There is always a way to pay for college. You will qualify for federal loans for your child's tuition. Your child may also have to take out loans to pay for college. Do not let your child settle on a community college just because you don't think you can afford college. Like I said, there is always a way to fund education. It sucks graduating with some debt, but it beats the hell out of not having a college degree.

Q: I am starting college next fall, what are some good college loan places to call?
I need to get some student loans for college next fall, I have no idea where to start! What are some decent places to call for student loans?

A: citibank, keybank, next student