Question: #1: Student loan?
I know I'll need to get a student loan sometime during my university studies. I was just wondering how they work, what you need to get one and how long you have to pay it back. Any extra details would be much appricated.P:S I am a planning on studying in the U.S but I live outside the U.S.
- asked by Alex K.
Answer: ...
- answered by: Danette View All Answers (3)
Question: #2: Is student loan still tax deductable when refinancing a student loan with a personal loan?
My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
- asked by Andrew M
Answer: ...
- answered by: PepsiLime
View All Answers (3)
Question: #3: Does a student loan and a bank loan affect your credit the same way?
I have one credit card ( revolving credit ) and I have one student loan ( fixed monthly payments ). I want to keep one revolving account and one fixed account. Would a bank loan that pays off the student loan look better as a fixed loan? I guess my question is: Do they both count as fixed loans or is the bank loan a more "authentic" fixed loan?
- asked by videogamer1979
Answer: ...
- answered by: Carolinahomerates.com
View All Answers (2)
Question: #4: If I consolidate my student loan with a personal loan can I still write off the interest?
I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?
- asked by Emily
Answer: ...
- answered by: bostonianinmo
View All Answers (4)
Question: #5: How to stop student loan wage garnishments if you agreed to make default payments?
I recently defaulted on my student loan and contacted the student loan company to before they started garnishing my wages. I agreed to a reasonable monthly payment and made the payments on time when I noticed that my wages were being garnished as well. I contacted the student loan company several times and they kept saying that they would remove the garnishment and that my employer had recieved the paperwork. I contacted my employer's payroll and the stated that they never got the paperwork and I should ask for a copy myself to fax it in myself just in case. The student loan company wouldnt give me a copy of the garnishment letter to the employer and claimed to have faxed the paperwork in. It has been 4 straight pay periods and nothing has been done meanwhile im still making monthly payments directly from my bank account. Is there anyway to stop this? PS: I dont need smart remarks about you should have paid in the first place, i know that much but i couldnt afford to at certain points.
- asked by workingmywayback
Answer: ...
- answered by: Found-1
View All Answers (3)
Question: #6: Can student loan interest be used as a tax deduction if the loans are indeferment/forbearance?
I know that student loan interest can be deducted.My student loans are all either in deferment or forbearance. I'm accruing interest on some of them, but I haven't actually paid any interest yet. Can I deduct the interest that accrued?Thanks!
- asked by AG
Answer: ...
- answered by: Judy
View All Answers (5)
Question: #7: How does a student loan affect your credit?
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?
- asked by FuzzyLizard
Answer: ...
- answered by: XoxoxoxoX View All Answers (4)
Question: #8: What happens when a student loan is cancelled due permanent disability, but the student isrehabilitated?
When a guaranteed student loan is discharged and later cancelled due to what is considered a total and permanent disability but many years after the cancellation of the loan the individual is rehabilitated and able to return to the workforce with the necessary aid and support for their disability what happens to the student loan? I've been told that once a loan is cancelled it no longer exists, and I've been told that if the individual is able to return to the workforce the loan is reinstated. Which, if either, is correct? What is the answer? (I'm talking about in Oklahoma.)I can find plenty of links, just no answer. Please don't leave a link, if you don't know then you just don't know.
- asked by dressed_2_kill_2008
Answer: ...
- answered by: stlsigma2
View All Answers (6)
Question: #9: Can student loan interest be an itemized deduction on your taxes?
The Student Loan Deduction allows you to deduct up to $2500. In 2007 I paid well over $2500 in interest and obviously want to take advantage of this.
- asked by msphenom83
Answer: ...
- answered by: Ken B
View All Answers (4)
Question: #10: How does student loan debt affect my credit score?
I am at the final stage of paying off credit card balances. Just one more month, yippee!!!! I've also already paid off my car loan 7 months before the maturation date. Anyway, I still have close to $50,000 in student loan debts- federal and private. But that's it. I have never had any major credit problems. Will all this student loan debt have a negative impact on my credit score and rating? I always make the payments on time every month.
- asked by MML
Answer: ...
- answered by: victorianroses0 View All Answers (6)
Question: #11: What kind of loan can I get to consolidate private student loans?
I have $100,000 in private student loans from two lenders. The interest rate is over 10%. Is there a way to get another loan to pay this off at a lower interest rate? What kind of debt consolidation program should I consult? Most student loan companies only deal with Federal loans it seems. I keep seeing ads for mortgage loans with low monthly payments-- is there something similar I could get for a personal loan? THANKS!
- asked by bbrrpf
Answer: ...
- answered by: marinehacker202
View All Answers (2)
Question: #12: How long after the delinquent student loan is paid off, can i apply for another one?
i have a delinquent student loan that is being taken out of my check and is wondering how long after the delinquent student loan is paid off can i apply for another one...or am i not eligible for one anymore?
- asked by love180
Answer: ...
- answered by: Found-1
View All Answers (2)
Question: #13: Can I claim my Canadian student loan interest on my US taxes?
I have Canadian (government) student loans (in Canadian dollars) which I am still paying back from my Canadian bank account whilst I live and work in the US. Can I claim my student loan interest on my US taxes?Also do I claim the amount in Canadian dollars?
- asked by galaxyy
Answer: ...
- answered by: EJ
View All Answers (3)
Question: #14: How can a student with bad credit go about getting a good student loan for University college?
I am a student going to a community college on full scholarships. However, next fall I am planning to go to Mississippi State University. My problem is, even though I am only 19, I have already defaulted on a loan and stopped payments on a cellular phone contract. My credit isn't even good enough to get a Wal-Mart card anymore. I am trying to get a hefty student loan to pay for my school expenses in my quest for higher learning. I would get a co-signer but no-one in my family has a good credit score either. So how would someone in my position go about getting a good loan for college?
- asked by ionic_mind
Answer: ...
- answered by: Texan
View All Answers (5)
Question: #15: How do I get a student loan for living expeneses?
I am trying to get a student loan, because I need to be able to pay for an apartment and need to get a new vehicle. I am working but I'm only making minimum wage and its not enough. How do i get a student loan that will send me the money instead of the school?
- asked by jellojiggler03
Answer: ...
- answered by: Jimmy John View All Answers (0)
Question: #16: What does a student loan company like Stafford do to co-signers? Do they get notified of the loan ifsomeone?
What does a student loan company like Stafford do to co-signers? Do they get notified of the loan if someone takes one out and uses them as a co-signer but pays it back right away? If so, how? I joined the army so I get loan repayment.
- asked by rbcny9
Answer: ...
- answered by: sara sentor
View All Answers (3)
Question: #17: What are the best private student loan companies?
My husband and I have been accepted into medical programs that start in less than 3 months. We have to quit our jobs and move away, so what are the best private student loan companies? We both have great credit and are planning on using mostly private loans, because we do not qualify for financial aid. We will be going to school 40+hours per week. I'm new at this, so any advice is greatly appreciated.Thank you for reading.
- asked by Dental Hygiene Student
Answer: ...
- answered by: Tania View All Answers (2)
Question: #18: Payoff student loan or use it as deductable?
My husband and I have around 30K student loan, interest is about 8%.Right now we are paying monthly payment, sometimes pays extra in the good days, and hoping to pay it off sometime in the next 5-6 years.But another hand, because student loan could be one of the income tax deductible, so we are not sure if we should keep the student loan as long as it takes and just pay minimum each month.Which way actually save us money? Use student loan as deductible each years or pay it off as soon as we can?
- asked by Cindy16
Answer: ...
- answered by: jaypez77 View All Answers (3)
Question: #19: How can I get a student loan after I declared bankruptcy?
I'm finding it impossible to get approval for a student loan because I previously declared bankruptcy. I can easily get approved for a car loan, but not for my education. Anyone with ideas or information about this situation please respond. I have to pay for nursing school by August 1st!
- asked by Heidi M
Answer: ...
- answered by: echo
View All Answers (3)
Question: #20: If I have a student loan, that I am not in default with then will I receive a stimulus check?
I have a student loan that I pay on time every month, so will I not receive a stimulus check?
- asked by kriminyjicket
Answer: ...
- answered by: lana31496
View All Answers (6)
Question: #21: What will happen to student loan repayments if there is a recession?
If you have a UK student loan which is taken directly from your salary and is linked to the rate of inflation, what is likely to happen if there is a recession, and the knock-on effects this would have? Can anyone enlighten me?
- asked by mot01
Answer: ...
- answered by: Jaccles
View All Answers (4)
Question: #22: What is the maximum student loan interest you can reclaim on taxes per year?
For instance, if i pay $5,000 vs $10,000 in student loan interest, do I get a bigger tax break or more money back if I pay $10,000 vs $5,000? Or is it capped at a certain amount once you pay a certain amount of money?
- asked by lankee06
Answer: ...
- answered by: Amy F
View All Answers (0)
Question: #23: What happens if I paid off my entire student loan but they still applied my tax rebate to it?
I paid off my entire defaulted student loan at the beginning of this month. I even received a paid in full letter. But today I just got a letter from the IRS that my $600 was applied to that loan by offset!! Apparently there wasn't enough time between when I paid off the loan and then getting my rebate. I just tried to call the Missouri Department of Education, which my loan is through, but they are closed for the day. Does anyone know if I can get my $600 back??? :(
- asked by little buddy
Answer: ...
- answered by: T Taylor
View All Answers (2)
Question: #24: How do you figure student loan money on tax forms?
Is it counted as income? Do you have to file taxes on student loan funds?
- asked by I color outside the lines
Answer: ...
- answered by: Nuttie Nettie View All Answers (3)
Question: #25: Is it possible to get a private student loan without a credit history or a co-signer?
I currently have no credit history, and no available co-signer for a private student loan. I have exhausted my availability of government sponsered Stafford loans and Pell grants. I need a private loan in the amount of around 2000 dollars to supplement the remainder of my tuition that will be paid out-of-pocket through working on nights and weekends in two jobs.
- asked by wrestlingguy87
Answer: ...
- answered by: PunkCabaret
View All Answers (4)
Question: #26: What's the best student loan for my situation?
I am currently a full time student. I already have a loan out to help cover Tuition costs, but I would like to take one out to get a new computer.I've had steady employment for 2 years and I have a credit history of about 7 months, all of it positive.Any suggestions/hints & tips will be greatly appreciated.Thanks!I have a Chemical Bank account.
- asked by j_teether
Answer: ...
- answered by: Benjamin b View All Answers (4)
Question: #27: How much of my student loan interest do I get back from taxes?
I have made student loan payments in 2007 and have received a paper in the mail stating I had paid $500 in interest and to include it in my taxes. What percentage of it will I get back? 50% maybe? or less?
- asked by nancy
Answer: ...
- answered by: DJ
View All Answers (2)
Question: #28: Can you explain student loan repayment benefits in the Army?
I have a lot of student loans from college and grad school. I have seen ads for student loan repayment upon joining the Army Reserve. Are these only for enlisted or officer, too? Any other details would be helpful. I'm also interested in any student loan repayment in other branches.
- asked by Kimpossible888
Answer: ...
- answered by: john
View All Answers (7)
Question: #29: How do I remove a late student loan payment from my credit report?
Hi experts. Unfortunately I just found out that I had a very small obscure student loan that went into repayment last month and I missed the bill. I switched addresses and somehow forgot to have them forward that loan to my new address :( So I checked my credit report and it's there reported as an adverse account and it says TransUnion says it will not be taken off until 06/2014. However it seems like I've heard of other people getting these things removed from their report after they pay the amount overdue. Is this something I'm just imagining or can I really pay the amount due and then have the error removed from my credit report?Thanks so much for your help
- asked by Curt F
Answer: ...
- answered by: Super Jay
View All Answers (7)
Question: #30: Can I get a student loan in addition to my company tuition reimbursement?
My company will reimburse up to $5250/year for tuition. Would I be also be able to take out a student loan or do I have to pay the tuition with out-of-pocket money? I didn't have to go through the student loan process during my undergrad years so I am unfamiliar with the process.
- asked by NUnum1
Answer: ...
- answered by: itsmekatiebeth
View All Answers (6)
| 
measure and fulfill your financial needs
