Maria asksā¦
Are there new or old programs that help you reduce or forgive your student loans?
I have like 50,000 dollars of student loans with salliemae and another 150,000 with direct loans. I consolidated my smaller amount before and now since im out of graduate school i need to pay them all back. Is there an new or best program that will help me pay back my loans? Or a way to get a grant or forgiveness. They are killing me! Please help
Nagesh answers:
You can consolidate again and get them under one lender. There is a program that I can’t think of the name of right now offered by the Government that takes them and you make a pre-set payment (under 100/mo) for 20 years, then the rest is forgiven.
Might look into those š”
Though as far as a Direct Loan….the above only works for Student Loans borrowed from the Government so all depends who hosts that loan for you.
Betty asksā¦
Can I build a home with a USDA direct loan?
We are in need of a new home on our property and we are eligible for a Usda direct home loan. We are not approved as of yet, but it’s something that we are looking into. For someone who has had this experience, how would I go about finding a contractor to build my home with this sort of loan? Do they have contractors that they use? Is it difficult to obtain one to build for you? Thanks!
Nagesh answers:
No, it is not a construction loan.
You would need to obtain a conventional construction loan. When construction is finished and it is time to pay the loan (due upon completion) you can use the USDA loan then, as long as the house appraises high enough to pay the construction loan.
Donald asksā¦
Can you get a federal direct loan if you’ve gone over your maximum time frame?
I was denied financial aid because of my maximum time frame (92 credits). But need two more classes to finish before I transfer to another university and was wondering if I can apply for a federal direct loan to pay for those classes. Also I have tried applying for a private student loan and was denied cause of my limited credit history so a federal direct loan is my only option. Please and Thank You
Nagesh answers:
Nope – a federal Direct Stafford Loan is financial aid too. The government is going to require that you are making Satisfactory Academic Progress as defined by your school, and completing your degree within 150% of the published length of the program is one of the requirements. Even a lot of private loans require that you are meeting the SAP requirements. Most likely, your only recourse at this point is going to be to get a job and pay for your two courses the old fashioned way.
Robert asksā¦
Where are some good sites for subsidized student loans?
I already got the Direct Loan (I think Stafford) and the Perkins Loan, but I’m still short $2000. Anyone know of a good student loan that doesn’t require a credit check ( I have no credit history), can be payed back 3-6 months after graduation, and preferebly is subsidized? I only need a max of $4000.
Thank you for your help.
Nagesh answers:
Try http://financialaid.com . I think they can get you subsidized loans. Also, check with http://salliemae.com .
Good luck!
Jenny asksā¦
How good of credit do you have to have to receive approval on a federal direct plus loan?
If my parents wanted to take out a federal direct plus loan, what are the chances of approval if there credit is not good but not horrible either with a credit score between 630-640 and prior bankruptcies.
Nagesh answers:
It depends on how long ago the bankruptcy took place. With a score like that, I can’t imagine that it happened recently. You should try obtaining a loan with you name, even though the parents still have to provide information for themselves. They are usually pretty good about approving people who are in a real financial need for money. The first step that should/should have been done, was to file a FAFSA. Based on that, you can find out what financial aid you qualify for, which includes federal direct stafford loans.
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