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Emergency Student Loans

Billie Said:

emergency budget affect on student loans?

We Answered:

The state-owned Student Loans Company is to be sold as a commercial concern. This means in future it will most likely not offer 0% loans, but will exist to make a profit. There is likely to be a reward for early repayments. But the terms of your current loan if you have one should be honoured.

Don't forget, there is no saying the SLC will find a buyer. The previous Labour government announced a fire sale, including selling the Tote, re-announced by this budget, but there were no takers.

Anita Said:

Paying Student Loans vs. Larger Emergency Fund?

We Answered:

I am obsessed with wanting to pay off my college loans. I would say make sure that you have 2 months pay set aside and pay off those college loans! You can get a job within two months, it wouldnt have to be a glamorous one. You dont want to be out of work and still pay on those loans, pay them off and have that be one less bill you would have to worry about.

Vivian Said:

Is it better to pay off student loans quickly?

We Answered:

Its always good to pay down debt

Good Luck!!!

Sherri Said:

Is it better to invest money or pay off student loans?

We Answered:

Zach, I've done something in my life that has worked great,and affords you an investment option with NO risk! Always pay your credit debt, as soon as you can..7,5% while not a large interest rate, to try and exceed it in the markert, especially at this time, could cost you more than what you wish to acheive.. Here it is,,A traditional IRA. Why? You invest 2 k per year, all at once is best, or if you have to,,in incriments..Go to several banks and get their best rate,on an IRA 18mon or 3yr, depending how good the rate is..Rates are important, but in this instance, not the governing factor..Once the IRA money in invested, the amount put in that year, is a total write off deduction..Meaning, if its2k you write off 2k from your tax return,,and say your tax bracket is 25% that means you''ll receive a $500.00 refund on that 2k investment itself.. Then you can apply that refund, to pay on your student loan.. AND the 2k is still invested for you gaining interest, at the full 2k.. Win Win!! Not a big deal, but with it, you accomplish both of your goals.. But your prime concern should be ending you loans.. Then you can branch into Roth IRA's , stocks, bonds,mutuals ,and whatever..Even if you got 7.5% in the markets, by the time you pay taxes, and brokerage fees, and management costs, Your below the percentage you started with.. Plus you have to make sure you don't LOSE in the markets..Your choice, but this is a success program that lets you do both, with NO risk and a positive result!! Your choice!! And all your IRA monies is NEVER taxed until you withdraw it hopefully in retirement, when your in a very low tax bracket.. There are penalties for early withdraw, however, you just forget about that money, and use it as a retirement funds..Because it grows tax free till you take it out. GREAT DEAL!! Best of Luck! SOLOMON

Christy Said:

Can I use a repatriation loan to pay off my student loans?

We Answered:

no, definintely not. repatriation loans are strictly issued to return to the US and are only issued to Americans. if you're being repatriated to the US, why would you need a visa. they won't simply give you the money anyway, they'll arrange for a reservation and pay the airline directly. you'll never actually see the money.

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