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Loan For College

Lorraine Said:

What is the best way to get a college loan to study abroad?

We Answered:

umm...try this website:
i hope it helps :)
good luck

Debbie Said:

How can I take out a College Loan if my family doesn't own a house?

We Answered:

The interest rate for student Stafford loans is 6%. That is the one you want. The 8% is probably for the parent PLUS loan. They need to have decent credit, it doesn't have to be great, but if they are denied for bad credit, the school will offer you an additional Stafford loan to help you pay.. it will be the lower rate.

You do not need (and should not) ever put anything up as colateral - especially your family home. It is not necessary.

Private loans are sub-prime and have VERY high variable interest rates, high processing fees, prepayment penalties and should be avoided at all cost.

This book has a great table in it with the different kinds of federal loans and the interest rates for each. Good luck.

Rebecca Said:

How can I get a loan for college with a low credit score?

We Answered:

If you need a small amount of money, maybe you could check whether your school offers short term/emergency/book loans. Also, when you say you have a grant, I'm assuming it's a Pell Grant and you filled out a FAFSA. If this is the case, your school's financial aid dept should be able to tell you how/if to apply for a student loans. Because Federal Student Loans are backed by the government, they don't look at your credit score in the same way other lenders do.

good luck

Tyrone Said:

How difficult would it be to secure a second college loan?

We Answered: - it provides some tips about applying to US federal and state grants for college students.

Leslie Said:

Would it be possible to cosign for a college loan after using a DMP (debt management program) ?

We Answered:

I was with a DMP, and I was able to get college loans ($26K worth) with no problem. Now, your situation may differ, becuase you are cosigning, but I really doubt that would make a difference. But, to answer your question, it can be done. It really falls back on your credit worthiness.

Rose Said:

Can I get my college loan interest back?

We Answered:

Sallie Mae explains the tax incentives of student loans on its site:…

Dan Said:

What is the best way to for college if you need a personal loan to pay tuition?

We Answered:

go to and enter in all the required information. You might be required to put your and your parents income. This is the beginning process of taking out a student loan-the ones you don't have to pay back until you graduate or drop to less than half time. It takes awhile to get the paperwork processed.
Good Luck.

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