Student Loan Advice

Robert J asks: I have two student loans for about 3000 dollars each. I have been unemployed for several years taking care of my kid and haven’t make any payments on the loans. Now a creditor has taken my student loans over. I now owe 9,000 thanks to fees, penalties and interest. Is there any student loan companies that will take them over and I can make payments to them at a low interest rate? Now that I’m working, I’d like to start making payments on my student loans.

Rita Long asks: I have student loans in default. I have made arangements to pay my deferred student loans and I have been paying them on time for the last several months. I would like to know can they still garnish my income tax or wages although I am paying on the loans?

Lem C asks:
What Loan company will take over my federal student loans when the loans are in default? 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. I really need some student loan advice!

Harriet J. asks: How many kinds of federal student loans are there? I know about the Perkins Student Loan, Stafford and Grad PLUS Loans but I’m not sure about others. I also know you can get private student loans from different lenders. Also, I need to know when to apply for the student loans?

Question: How do student loans for college work? Are they different from traditional loans? Are they harder to get than traditional loans? Is there such a thing as a student loan that you wont have to pay until your job starts? Are there better options to student loans?

Answer: Most student loans work like traditional loans. There are a few exceptions, but all in all, student loans have to be paid back, interest and all.

Question:
Do most students get approved for student aid? If so, for how much usually? Do you choose the amount you want to borrow? The reason I ask is because I need to take out a student loan to pay for study abroad this coming summer. I don’t want to take out a private student loan. Are student loans difficult to be approved for?

Question: I know that you can get federal student subsidized loans and nonsubsidized loans if you have bad credit, but these non-credit based loans only goes up to $20,000. The school I want to go to cost around $70K. Are there any other types of loans out there available to graduate students that have bad credit? My FICO score now is 430 because I have a home foreclosure on my credit report.

Question: I need money for basic living expenses. I attend a community college. I’m currently enrolled for 10 credits so I’m not quite full time, but I plan on being full time in the winter semester. Are there any student loans that will help me pay for basic living expenses? Any mid semester student loans?

Question:  I have just a little over $4000 left on a student loans, and I have two semester left to complete college. This fall, I am taking additional courses but in the spring I am only taking one or two. Will they offer the remaining of my loans for the fall semester, and I can use my pell grant for the spring or will they split the remaining student loans between the two semesters?

Question: I have over 100k in private student loans from several private lenders. The interest rate is out of this world due to my bad credit. Is there a way to get another loan to pay this off at a lower interest rate? What kind of student loan debt consolidation program should I be looking for? 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 like this for people like me with private student loans?