Gregory Said:

Are there any college students out there that have a student loan pay for off campus housing?

We Answered:

college loans as long as they are not grants are to be used for anything you need for going to college ie: car payments, gas, rent, clothing, food, school supplies, books, and obviously tuition. If you need it to be able to go to school than that is what you do with it. Be careful though and follow through with getting the degree because this money does have to be paid back and you can not get out of paying these bills once you are out of school. so use the money as efficently as possible. By the way NY is a very expensive state. Rent for a one bedroom is going for 1800.00 to 2500.00 a month.

Velma Said:

Are you a student at Montclair State University?

We Answered:

sorry i am not a student there but thats were i applied

Diane Said:

A lot of people are saying credit card is evil and avoid it if you're a student but...?

We Answered:

Credit card is not evil or anything like that, the real evil is our spending habits. Living in this society today, the 3 most important digits are the credit score, and most of the time the credit report is even more powerful than any degree. I would take an 800 score over $300,000 in cash, and I would take a clean power credit report over any degree. If anyone think I'm "bs" , you need to think again . Now ask yourself this question : who would give you a credit line of $100,000 ? Not your best friend, your lover , not even your family or your parents. But , with an 800 score, there are many reputable banks begging you to accept their credit cards offers. They don't even care to verify your income or employee.

1 last note . If you're making $100,000/year and have a poor credit score, you won't even be approve for a $500 credit card even though they have verified your employee/income.

Alex Said:

How do gas companies estimate your bill?

We Answered:

Typically based on averaging the previous 12 months usage.

Jane Said:

What will happen to current subsidized student loans under new house bill?

We Answered:

This article does not say it will end all Subsidized student loans (read farther than the grab-ya headline)... it says it will end all Subsidized student loans through PRIVATE lenders such as Sallie Mae, Wells Fargo etc. (These are commonly referred to as FFEL loans).

If the bill is passed, these loans would still be offered as DIRECT Subsidized Student loans (meaning loans you get directly from your schools fin aid office - direct from the fed government rather than going through a middle man like Sallie Mae, Wells Fargo, etc. These private lenders will no longer be able to charge you high fees that are associated with student loans. (called Origination Fees). The government will only charge you 2%. A private lender may charge you more. (or at least that what the article says).

This is a GOOD thing for students. You probably have DIRECT subsidized student loans already and don't realize it. Schools fin aid offices have been offering them more and more to get ready for this bill to pass!!!

Your current subsidized loans would not be effected in any way.


More info that may help you:

-Federal Family Education Loan (FFEL) Program Loans made through this program are referred to as FFEL Loans.
Private lenders provide funds that are guaranteed by the federal government. FFEL Loans include subsidized and unsubsidized FFEL Stafford Loans, FFEL PLUS Loans and FFEL Consolidation Loans. You repay these loans to the bank or private lender that made you the loan.

-William D. Ford Federal DIRECT Loan Program
Loans made through this program are referred to as Direct
Loans. Eligible students and parents borrow directly from the
U.S. Department of Education at participating schools. Direct
Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to us.