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The best course of action is to contact your lender IMMEDIATELY to let them know you are unable to make payments due to lack of income. The federal student loans (held by the US Department of Education) has forms for you to fill out to declare that you can't currently make payments and need either a deferrment or a forbearance on your loans. Loans from private banks may not have this flexibility but you still need to contact them to see if you can work out a new payment plan.
The banks have some motivation to work with you - the only way they get the money back is if you pay them as there is no physical collateral they can collect and sell to get the money back from.
Also, if someone co-signed for your student loans (parents, relatives, friends) let them know too as they are on the hook for that money if you can't pay.
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Are you a student or do you have a job?
I Have a job. If I am applying for student loans I am a student.
How do you get more money from student loans?
You apply for more loans or else be happy with what you have. Get a job if you need to help you get through.
What Do You Mean I Have Debt After College?
Many students do not realize that their loans will be due after they graduate. Some students also do not estimate the high costs of loans they will be expected to pay upon graduation. It can truly behoove any student to research his or her financial life, in order to understand how loans will need to be repaid upon graduation. A student truly needs to understand his or her finances in order to determine the type of job needed to repay loans after graduation. Student loans are an incredible burden for any individual. Sometimes, a student may be required to pay anywhere from $800 to $1800 back in student loans on a monthly basis. This is an incredible cost to bear for any student who is not working or is unable to find a job. Some students even need to claim bankruptcy after graduation, because they simply can not keep up with the hassle of paying off expensive loans. It is wise to understand a financial situation, because that usually will motivate a student to work very hard in school to get good grades and get a good job after graduation.
Can you get a student loan with no job or a cosigner?
Definitely, you can easily avail student loans without any cosigner with the help of various types of student loans programs available online. You don't have to be employed in order to get student loans. If you don't have any job then it doesn't matter even then you can get this loan. If you search online you will find various types of private lenders like Sallie Mae, Chase, Wells Fargo etc who offers loans to students without any cosigner. So, you can contact any of them and can get private student loans no cosigner.
Do you still have to pay for student loans when you file a bankruptcy?
You report all assets and all liabilities. However, government insured or backed student loans are NOT dischargeable.
Do you have to pay off the Wells Fargo student loans myself?
Most loans require students to pay back the money as soon as they're out of college and have a paying job. If a parent wants to pay back the loan their student has took out, then the student won't have to pay. However, students are responsible for paying back loans like the Wells Fargo Student Loan.
Can I quit my job and concentrate totally on school for the last two years of my college degree if I can add my price of housing into my loans and be a full time student?
If your a full time student, you can apply for a maintenance loan and a tuition loan, you can also apply for a grant which you dont have to pay back.
How do you get a student loan with bad credit and no cosigner if your Stafford loans don't cover everything?
SOMEONE THATS HAS A JOB.
What are necessaries?
The skills necessary, depend on the type of job your applying to.
A part time job for a 10 class student?
yah,i need a job for time pass ...im so jobless at home i dont have nay job at home... i want to do something plzz find a job for me...im just 10 grader
What are the differences between federal student loans and private?
Federal student loans have a feature where you can pay them back after you graduate school and get a job, while private loans make you pay for them while you are going to school, you should try to get a grant first before applying for any loan, because of the interest rates. www.finaid.org
What exactly are Wells Fargo student loans?
Wells Fargo is a bank that offers all kinds of loans. Student loans are jjust one kind of loan. Normally they are low interest loanto help pay for education. Pay back is not started until the education is finished, and in some cases until you find a job.
