student loan advice

Are there any student loans for students with bad credit?

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.

Posted by The Student Loan Guru - December 9, 2008 at 5:26 am

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

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


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?

Posted by The Student Loan Guru -  at 4:42 am

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Can student loans be written off in a bankruptcy?

Student Loan Advice

Mathew S asks: I am filing for bankruptcy and have several student loans. Can student loans be written off in a bankruptcy? Or do I still have to repay my student loans? Help! I need some student loan advice quickly!

Student Loan Guru: Under most circumstances Federal student loans cannot be discharged in bankruptcy. Isn’t it convienent the way the U.S. Government set this up? Many times, student loans are the reason many young people get into financial trouble.

Posted by The Student Loan Guru - December 6, 2008 at 12:55 am

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Student Loan Options For Graduate Students

With the job market tightening, more and more people are choosing to extend their studies and gain more qualifications by enrolling in Graduate School. Competition for available jobs is fierce but you can give yourself an edge over many applicants holding a Bachelor’s degree by studying for an MBA.

Posted by The Student Loan Guru - December 5, 2008 at 10:40 am

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Should I Pay Off My Student Loans Early?

should i pay off my student loans quickly?

Stefani from Philly asks: I’m graduating this June and I’m going to have about $40,000 in student loan debt. I want to know whether or not I should pay off my student loans early as I can even if it means sharing a room with someone else. I’m planning to take at least 50% of my pay check to go into repaying the student loans. This will come out to about $1000 per month, which allows me to pay off my loans in about 3 years. I’m normally a saver anyway and I can live cheaply if I have to. I would have just enough money left over for rent and living expenses. My rent would only be about $500 dollars per month. Plus, I have savings right now that would work as my emergency fund just like Dave Ramsey suggest. Is it better to pay off my student loans quickly? My thought is that it would save me on interest even though it would be hard for a few years, but I will be much better off in the long run. Any suggestions?

Posted by The Student Loan Guru - December 3, 2008 at 6:36 pm

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