financial aid

What Is The Best Way To Pay Off My Student Loans Early and Save Money?

Megan B from Nebraska asked: Can you tell me of a quick you to pay student loans? I owe about 20k and my interest rate on the student loan is 6.5%. My monthly payment is around $200. Any suggestions please?

Are there any student loans for students with bad credit?

Charles Q asks: I am returning to school in the fall but am short quite a bit of money. I need a student loan to pay for the rest of the first year, but I have really bad credit due to poor decisions I made some years ago. Does anyone know of any places, programs, or banks that have a program for bad credit student loans? I’d appreciate any help you could give me.

What happens to the status of my student loans if I transfer to a different college?

Andy M asks: I thinking about transferring to a different school but I still have student loans from my previous school (Sallie Mae and Federal Direct student loans). Are there clearing houses or other programs that my new enrollment status will be sent to so that the lenders are aware that I haven’t just stopped going to school (and thus cause my college loan payments to become due)? Do I have to obtain enrollment verification from my current school and send it to each of my lenders?

What Loan company will take over my federal student loans when the loans are in default?

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!

Will a Loan company take over my federal student loans if the loans are in forbearance?

Bob asked: Will a Loan company take over my federal student loans when the loans are in student loan forbearance? I need to 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.

Answer: You might be eligible to get all or part of the interest paid while you go to college. No one will “take over” your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. Student loan forbearance does not lock the interest rates on your student loan.