Question by : What is the best private student loan for someone who does not qualify for federal financial aid?
My school won’t give me the federal student loans I qualify for because of reasons I don’t want to disclose. I’m looking into private student loans right now, and I was wondering which ones are the best. I’ve looked at over 50 private student loan companies and most of them do it through Sallie Mae. Is Sallie Mae the best our there?

Also, my credit is good and I can get a parent to cosign, but their credit is about the same as mine. Should I even bother?

Read the rest of this entry

Question by toneykuhnz: Is it possible to transfer private student loans into a federal student loan?
I have about 50,000 in private student loans and it todays economic environment, no one will consolidate or refinance my loans. I was wondering if its possible to “roll them over” into a federal student loan. Any help is appreciated!

Best answer: Read the rest of this entry

Question by Dat_1_Chiq: What Loan company will take over my federal student loans when the loans are in forbearance?
What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school?
My loans are government loans from Saillie Mae. I owe them under $ 5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company.

Best answer: Read the rest of this entry

Question by Dat_1_Chiq: What Loan company will take over my federal student loans when the loans are in default?
What Loan company will take over my federal student loans when the loans are in default so I can go back to school?
My loans are government loans from Saillie Mae. I owe them under $ 5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company.

I am at the point where I can’t get a federal student loan until I pay this off.

Read the rest of this entry

Question by Curious: Am I considered an undergrad for Federal Student Loan programs if I’m pursuing a 2nd degree?
I have a BSED in Secondary Education, but…really want to switch careers. I’m considering a 6 month degree in Pasty at The French Pastry School in Chicago. I’m stressing about the financial strain during the transition though. Should I be covered under the Federal Stafford loans?

Best answer: Read the rest of this entry

Article by Jeff Mictabor

Nashville State Community College is weighing the decision to eliminate federal student loans from its financial aid programs.

The school is assessing the number of its students who have defaulted on their federal student loans and believes it may be in a better position to preserve other types of federal financial aid if it exits the student loan program. Schools whose students default at consistently high rates lose eligibility for all federal student aid — not just loans, but also federal grants and work-study funds.

Read the rest of this entry

Read the rest of this entry

Read the rest of this entry

Article by Jeff Mictabor

The presidents of 38 North Carolina colleges have come together to oppose a new state law that requires them to offer federal student loans to their student bodies beginning July 1, 2011.

As written, the law would make college participation in the federal student loan program mandatory. The non-participating community colleges say that they are afraid of losing all federal student aid — which includes grants for low-income students — if too many student loans enter default.

Read the rest of this entry

Article by Rachel Fiona

Non federal student loans have given college students more options in financing their college careers. While it used to be that students were left with no choice but to take advantage of financial assistance provided by the federal government, they now have more choices with the presence of private loan providers. The volume of such loans has been steadily growing, with its movement notably higher than the increase in volume of federal student loans. If this trend continues, it is projected that private loan sources will surpass the student loan volume provided by the federal government by 2025.

Supposedly, general rules dictate that a student should only make non federal student loans an option once he or she has already maxed out his or her federal loan, usually the Stafford Loan. Before considering a private loan, they should also first submit the Free Application for Federal Student Aid (FAFSA), which may make them qualified for various forms of student aid like grants and work-study programs. Undergraduate students should also compare first resort to a Federal PLUS Loan, which is usually more affordable and has more flexible payment terms. Unfortunately, this is not the case anymore as more and more students try to get non federal student loans to cover for miscellaneous expenses, while they use federal loans for tuition costs.

Read the rest of this entry