A student loan is a loan taken for the purpose of education. Ideally the country tag should also be used as the response may differ based on the country.

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1answer
33 views

Re-financing/consolidating multiple student loans for medical school?

Currently my friend has 5-6 loans for medical school in the 6.8% to 7.9% interest rate. The loans are of type Stafford, Unstafford, Plus, and a few others. I looked at ...
5
votes
1answer
104 views

Is it common for student loan debt to be paid with another loan found at lower interest?

I currently have 22k in student loans at 6.55% interest. I checked my credit score and it was 706 a couple of weeks ago. I am a recent college grad with a decent paying job right out of college. What ...
4
votes
1answer
84 views

Loan with Sallie Mae at 16 without a Co-Signer

My mom got a loan out while I was in Cosmetology school and it was supposed to be for me but she ended up spending all of it. I was only Sixteen and the Sallie Mae person on the phone said I didnt ...
9
votes
1answer
392 views

$140,000 student debt. What are my options? Please help

As the title states, I am about to finish my PhD with $140,000 dollars worth of student debt. Assuming I even obtain my desired position—a university professor—my salary will be in the upper $40,000. ...
6
votes
1answer
339 views

Estate liability for co-signer to Sallie Mae student loan?

My son has student loans. I co-signed on three that are currently with Sallie Mae. He stopped paying so I am doing that in order to protect my own credit. What is my estate's liability should I die ...
0
votes
1answer
194 views

Should I pay the student loan now classified as bad debts

I got educational loan on 2008 from one of a Bank in India. So far I am paying only interest money not principal money for it, but it’s also not regularly, I left some intermediate gap on it. Last ...
1
vote
2answers
180 views

How should I handle student loans when leaving University and trying to buy a house?

I am currently in my last year of university and I am trying to figure out when I should buy a house. A couple of quick points: Senior in univeristy (graduate May, 2014) Already accepted an offer ...
6
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1answer
1k views

Is there a most efficient way to pay off multiple loans with the same interest rate?

My Situation: About $36k USD in graduate student loans. There are 4 different federal loans in play, each with a fixed rate of 6.8%. $12k w/ ~$1.2k in unpaid interest $10k w/ ~$1k in unpaid ...
5
votes
1answer
208 views

What are my options for paying off the large balance of my federal, high interest student loans?

I have a large student loan from grad school that's over $41,000. I graduated in 2007, before the economy crashed and I was locked into some very high interest rates. I consolidated the Plus and ...
2
votes
3answers
1k views

Should I just pay off my car and student loans?

Here are the loan details : Car Loan : 2.8% APR with a balance of $11,300 Student Loan : 3.0% APR with a balance of $7,300 I have enough cash to pay off both loans today. Should I pull the ...
2
votes
1answer
239 views

Need help with my financial situation/life, very unhappy

I am 24 and have $21,000 in student loans and no degree. I dropped out of college because I wasn't sure what I wanted to do and for my last quarter I took F's. Now I can't go back and get financial ...
6
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1answer
87 views

Verification of student loan amounts

I consolidated my student loan debt with FedLoan a year or two after graduation. Is there an easy way to verify that my current balances are accurate? Is this something an accountant would handle, or ...
1
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3answers
2k views

Getting around Gift Tax in US

I've been transferring money to my fiance's account to help her pay her student loans. I just realized that I went past my yearly gift tax allowance for her ($14,000 for 2013) by $3,000. I realize ...
5
votes
1answer
245 views

How to dispute a balance transfer that never posted with other creditor?

Three months ago, I did a credit union credit card balance transfer at 0% to pay down three student PLUS loans. In the payments, the account number and sequence number for the three loans were given. ...
3
votes
1answer
148 views

Grad student - Pull money from 401k, or get student loan?

I went back to school after a few years in industry. The PhD has a stipend, but it doesn't quite go far enough. I'm dipping into savings each month. I'm looking for a little extra cushion. I have a ...
3
votes
2answers
203 views

Financing Education through Credit Card or Student Loans

I'm currently back in school, full-time, for an MBA (20 month program). I don't need to worry about tuition, but I still need to pay for living expenses out of pocket. Should I rely on student ...
7
votes
1answer
1k views

My student loans are on an income-based repayment plan. How does this affect my debt-to-income ratio?

If my student loans are on an income-based repayment plan, how does that affect my debt-to-income ratio? Is it reported at the current amount I'm paying, or what I would have been paying if it weren't ...
3
votes
3answers
305 views

How should we prioritize retirement savings, paying down debt, and saving for a house?

My wife and I are newlyweds. We currently have 6 months' emergency fund (3 months are currently in a CD, and 3 months in a high-yield savings account.) We are contributing to get the full match in her ...
2
votes
1answer
59 views

Would student loan consolidation through a private party still be tax deductable?

I have a private party that would be interested in paying off my student loans and in turn, extend me a loan at a slightly reduced interest rate. This makes sense to me until I get to the point where ...
2
votes
3answers
5k views

What are the advantages or disadvantages of paying off student loans early? [duplicate]

Possible Duplicate: Paying off student loans early/lump sum — best practices? I'm curious as to the advantages or disadvantages of paying off student loans early. I understand that interest ...
1
vote
1answer
311 views

Is $0 unpaid interest on a student loan effectively 0% APR?

I have two loans: Unsub Consolidation Loan and Subsidized Consolidation Loan, both at a 6.5% fixed rate. However, I've paid all the accrued interest. Therefore, if I were to "start fresh" today; would ...
3
votes
2answers
684 views

What is the best way to pay back a(n unaffordable) private student loan?

Let's say I owe a private student loan of $50,000, and it's already been discharged to a 3rd party for collections. Monthly payments would be several hundred dollars, which is something I cannot ...
3
votes
3answers
442 views

How will making monthly student loan payments before grace period ends affect credit?

I recently graduated with student loan debt, and my grace period will be ending soon. Most of these loans are subsidized, meaning I do not pay interest until the end of my grace period. If I begin ...
5
votes
2answers
352 views

Do I have an option to transfer parent plus loans to myself?

My wife and I are currently about to start our payments for student loans. All of our loans are federal student loans through Direct Loans. We also have a parent plus loan, which is technically under ...
5
votes
2answers
97 views

How much extra to put towards loans? I can't judge which gives me more utility

So I can now calculate exactly when my loans would get paid off by ensuring I consistently contribute some amount X to my loans where X is greater than the sum of the monthly minimums, where the extra ...
2
votes
2answers
45 views

Is there a program out there that will give you details for paying X extra per month?

I've got about 6 loans or so with different payoff times and interest rates. My general strategy is to calculate how much I'd save by paying an extra X per month, always directed towards the loan with ...
0
votes
1answer
94 views

Calculating payoff date and monthly payment for a school loan?

How can I verify the minimum monthly payment number and how it breaks down into principal vs. interest if all I know is the current balance and interest rate? How can I determine the payoff date of ...
3
votes
3answers
433 views

Trying to figure out my student loans

Please let me know if this is too much information/perhaps unsafe private information to reveal. I am trying to understand the finances behind this stuff and what I can do to get rid of my loans ...
9
votes
2answers
256 views

How much is enough to save as a rainy-day fund before I start plugging my higher-interest student loans?

Typically, what is considered realistic? 6 months expenses? A year? I understand this is more of an "opinion" question but I am still curious what people think is a responsible buffer (in the event of ...
1
vote
2answers
156 views

Budget planning for students

I hope this question is a good fit for the site. So, I have just been accepted at a university (UK) and being 18 I don't have much experience planning budgets and certainly not for anything longer ...
3
votes
3answers
250 views

Building Credit for a Young Person with No Credit

I don't have any credit established but I'm a computer programmer and I make pretty good money. I'm 21 and I would like to buy a new car. I can't get a loan because I don't have any credit and I've ...
2
votes
1answer
311 views

Any smart way to get the interest down on our student loans?

Trying to figure this out. I have a student loan $24,000 at 6.55% with Nelnet, and my wife has $48,000 at 5.2% with Mohelo. We have a home worth $220,000 with $40k in equity, and the rest at $180k at ...
1
vote
1answer
215 views

Can student loan minimum payments go up upon full repayment of another?

I am in the U.S. and currently paying off student loans. Here is a hypothetical situation that shows what I am asking about: I have 5 loans (all from one financial institution) of $1,000 a piece, ...
12
votes
4answers
1k views

Can someone help me understand my student loans?

I have more loans than these but I am wondering how to handle these three (all with the same bank): 3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170 2.5%, ...
4
votes
3answers
116 views

How can I use my low credit card rate to save interest on my student loan payments?

I have student loans at a rate of 6.55%. I have zero credit card debt - and have a card with a rate of 6%. I have a comfortable amount saved for emergencies and have some extra income that can go ...
4
votes
4answers
193 views

Schooling - Pay in cash or take the subsidized loans?

I'm going back to school in about a month. I will be going after my bachelors degree in Information Technology with an emphasis in Software Development. I am in a position right now where I could ...
8
votes
2answers
178 views

Which graduate student loans are preferable?

It seems that subsidized loans will no longer be offered to graduate students studying in the US. Students will typically have two choices, Unsubsidized Stafford Loans and Federal PLUS Loans. ...
2
votes
1answer
142 views

How to calculate outstanding Graduate Plus Loan balance currently in deferment?

Can someone tell me what I'm doing wrong here? If I have a $56,500 loan and the interest rate is 7.9% how much will I owe after 8 months? I thought this would be fairly simple. I would ...
3
votes
1answer
165 views

Faster degree with debt or slower degree with no debt?

I'm looking at going back to school, and I have the option for two different speeds at which I could pursue my degree. The following numbers are assuming none of my credits transfer. They all should, ...
5
votes
1answer
153 views

How do Income Contingent student loan payment plans work?

In order to benefit from Public Service Loan Forgiveness, I need to select a payment plan that leaves a balance on year ten. Thus far I've focused on Income Based Repayment, which is a newer option ...
4
votes
4answers
221 views

Paying loan more than the monthly limit vs keeping the extra in a bank or investment

I have a student loan (9% interest rate) which I have to pay within the next two year. Since I have a secure job I know I will finish paying within two years even with the minimum monthly payment. ...
3
votes
1answer
3k views

FAFSA: Do I still report my parents' income if I am not claimed as dependent?

I'm 19 and it's nearly time to fill out the FAFSA again. Most of the time, until you're 24 (or is it 25?) you report your parents' income on the FAFSA. However, my parents do not claim me as a ...
0
votes
1answer
541 views

What to do or watch out for when school loans are transfered?

I received an email today informing me that one of my student loans has been transfered (Email is below). Besides following the instructions in the email and some due diligence to make sure this is ...
12
votes
4answers
387 views

How will I pay for college?

The SAT is coming up soon for me and, with it, everything college. I had held the impression that I was just going to rack up student loans, go to college, and then pay them off with whatever job I ...
2
votes
5answers
300 views

Can a debt collector deny a consolidation?

I've asked this question below... Can a debt collector garnish my wage without a judgment? but thought it be better the break these up into seperate questions... PHEA, who is acting as a debt ...
9
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3answers
1k views

Can a debt collector garnish my wage without a judgment?

I am going through student loan hell. Trying to consolidate loans and running into walls (repeatedly). I am getting overwhelmed. Can a debt collector garnish my wage without a judgment? I am trying ...
3
votes
2answers
114 views

Improving credit score by taking on spouse debt, possible?

My wife and I recently purchased a car, during the process I was shocked to learn my credit score was below average (no debt, healthy credit limit and always paid balances in full, good income) while ...
2
votes
1answer
130 views

How do I fill out my FAFSA form if my mom has two jobs?

My mom gets two separate W-2 forms from two separate jobs. How do I take this into account when filling out my FAFSA form?
1
vote
1answer
192 views

What does “parity” mean with regards to student loans?

I read in a newspaper that interest on part-time student loans was made the same as a full time student's loan in order to "achieve parity between part-time and full-time student loan programs" ...
2
votes
2answers
4k views

How can I pay off tuition fees from a past semester so that I can enrol in school again?

I still owe my tuition fees for a university of California school from fall 2010. I have been out of school since then with two semesters to go before I can graduate. I've been trying to take out a ...