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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4
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4answers
800 views

What are my options to deal with Student Loan debt collectors?

I had about $16k in student loans. I defaulted on the loans, and they got passed to a collection type agency (EOSCCA). The collection agency tacked another $4k onto the loans. I spoke with a ...
5
votes
3answers
687 views

How do I set up the formulas to properly split monthly loan payments to principal and interest?

This has been a small annoyance for months now: the formulas GNUCash produced via loan repayment wizard don't match up with my lender's amortization tables. The formulas use pmt() functions, like this ...
6
votes
4answers
241 views

Should I pay my Education Loan or Put it in the Stock Market?

I currently have a Student loan at a 2.47% interest rate, I owe most of my home mortgage and have a minimal amount invested in the stock market (not counting retirement). I have some money that can ...
9
votes
2answers
456 views

Can I refinance my student loans?

I have student loans from graduate school with an interest rate of 6.625%. I see that interest rates are quite low. (Mortgage rates are at 4.6% for a 30 yr fixed.) So I am wondering: Is it possible to ...
9
votes
3answers
602 views

Our only debt is hefty student loans, should we pay the student loans off first or save for a 20% down payment on a house?

My wife and I have been working on debt for the last year and a half. We've knocked out $50k in car loans, credit cards, etc. Our only debts left are student loans. Would it make more sense to ...
6
votes
3answers
731 views

Should I take a loan on my 401k to repay student loans?

I have a student loan that has 6.5% interest (highest rate of many) and would be able to repay it if I took a loan on my 401k. I know the basic trade-off is that my money may do better in the 401k ...
6
votes
6answers
565 views

Should we prepay our private student loans, given our particular profile?

my question is: Should my wife and I prepay my private variable-rate student loans, given our particular financial profile? Or are there higher priorities to address with any extra cash we have at the ...
10
votes
1answer
434 views

Are student loans tax deductible in US?

If I have a student loan from finishing my graduate degree, can I deduct its interest payments from salary for tax purposes? Is there any education related tax credit that can be applied for payments ...
4
votes
3answers
188 views

What options are there for consolidating a large amount of private student loan debt?

I'm currently in a weird situation - I have a large amount of accrued debt (85k principal, ~15k accrued interest so far), spread amongst multiple smaller student loans. Some are federal stafford ...
4
votes
1answer
91 views

Federal Stafford Loan deferment options?

I have a question pertaining to Federal Stafford Loans, I think it goes here, let me know otherwise. I have several student loans, Federal Stafford Loans to be exact, and the National Guard has ...
2
votes
1answer
132 views

Obtaining a Taxpayer Identification Number

I am a student on a F1 Visa in the US and would like to apply for personal student loans from Banks like Chase, Sallie Mae. Being a non US Citizen and on a student Visa, I am unauthorized to work, ...
10
votes
5answers
10k views

How to transfer money to yourself internationally?

I tried to find a question that already answered this but surprisingly I wasn't able to. My situation is this: I'm from the U.S. and I have student loans there I need to pay off. However, I am now ...
3
votes
3answers
258 views

Under IRS rules, After what tax bracket or income range student loan interests are not effective?

Student loans generally have very low interest rates. Those interests paid work in your favor at tax time, for certain income and tax bracket group. In the US, if you make more than what amount, ...
6
votes
1answer
195 views

Should I try to consolidate my student loans? If so, how should I do it? What traps should I watch out for?

I recently graduated with my Bachelor's degree in Computer Science. I now have student loans to pay off. I've heard that something that should be done with your student loans is consolidation, but I ...
3
votes
1answer
894 views

Will 5 years on OSAP's Interest Relief result in a one-time, permanent loan reduction on the order of 50%?

I was told by a friend that if you qualify for OSAP's Interest Relief for 5 consecutive years, then OSAP will offer to perform a one-time permanent Loan Reduction. This Loan Reduction, as I'm told, is ...
12
votes
8answers
2k views

Extra payments toward mortgage or student loans?

So I have roughly $5000 in student loans at 5% and about $65000 on my mortgage at 3.875% (5/1ARM). Should I put extra payments towards the student loan or the mortgage? 5% is higher, so if it's ...
2
votes
4answers
232 views

I thought student loans didn't have interest, or at least very low interest? [UK]

I was under the impression that UK student loans were really cheap credit, and were incredibly low interest rates. After hearing some radio shows on student finance their advice was to always pay the ...
7
votes
1answer
895 views

Can I save money on interest by paying a loan multiple times per month?

I'm paying off a student loan right now that accrues interest on a daily basis. Last month, for example, I got a bill where the principal was $25k and the interest was $150. I pay about $500 each ...
10
votes
6answers
1k views

Should I pay off my student loan before buying a house?

Should I pay off my student loan before buying a house?
15
votes
3answers
1k views

Should I pay off my student loan before putting money into Roth IRA?

I have about $7K in student loans remaining at 6.25% I also haven't made a contribution to my Roth IRA for 2010. I'm thinking off paying off my loan at the end of the year, but that'll not really ...
3
votes
1answer
314 views

Ontario HST rebate: Canada Student Loan debt in default. Can they take my transition rebate?

I don't owe the Ontario government anything - not even student loans - but I do have a defaulted Canada Student Loan in default. Can they take my transition rebate?
15
votes
2answers
3k views

Paying off student loans early/lump sum — best practices?

My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest. We're both earning ...
12
votes
7answers
6k views

Saving $1,000+ per month…what should I do with it?

I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
12
votes
4answers
9k views

Will our hefty student loans affect our chances of getting a mortgage?

My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, ...