Angela Said:

I have a student loan that my wages are being garnished. Is there anyway to get it back?

We Answered:

talk to your lender. I bet if you pay a major chunk up front they will accomodate you. If you have money for a down on a home, you should be able to pay your debts. You really should not have let it get this far out of hand. your student loan debt should come before a home

Claude Said:

How do i reduce or stop the interest rate on my student loan?

We Answered:

They are always going to charge interest. At least it's tax deductible, right?

The only way to stop the interest is to pay it off. You can try to reduce the rate by getting it refinanced, but if you defaulted, it sounds like you've got some money problems.

Consider financial counseling, and get out of the debt trap.

Constance Said:

r there any grants out there 2 apply 4 to help pay a default student loan currently being wage garnished?

We Answered:

No, there are no grants to pay a student loan much less a default student loan. You got the student loan, then it is your obligation to pay them. Don't believe companies who will tell you that you can get grants for whatever purpose you can think of such as paying a default student loan because that is absolutely false. Believe them and they will just scam you.

The government is NOT in the business of giving away free money for the sake of giving away money. Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.

For one, you have to write the grant application and the grant application is not a simple document - you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.

There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.

You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.

Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently.

Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs