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.

How do student loans for college work?

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.

Big Banks Ending Student Loans For Community College Students

You know, finding student aid for a community college is hard enough. But now with the economy the way it is and the credit crisis, finding student aid just got a little tougher. For many, this may be a disadvantage of attending a community college.