Jeff Said:

What happens with the University Of Phoenix Axia unused student loans?

We Answered:

The unused portion of your loan and grant should go to you. At least that is what happen to my husband and I. The money is sent to the student in case you need any other school materials and for additional cost. You could even use it to pay back the loans...lol

Delores Said:

Is there such loan that will consolidate my students loans, plus gives extra as a cash advance?

We Answered:

When I was in college, student loans didn't start accruing interest until after graduation and you got 10 years to pay them off. Plus you didn't have to make payments until 6 months after you graduated. Since then some of the tax laws have changed. I think your best approach is to talk to an accountant. $34K is a lot of money to be on the hook for and I doubt you can get 10 years to pay that back unless it is secured by an asset like a house. And if you do have a house you're going to need enough equity to cash out.

The fact you are still in school (and I assume unemployed) makes getting a loan very, very difficult.

Debt is a *****. Take what you have, look at your income, look at what your payments are/will be and see if you can fit it all into a monthly budget so you don't default and can still have cash flow at the end of the month. Make the budget fit your income and not the other way around.

But to your other comment... $14K to cover moving expenses? HAHAHAHA! I don't think so.

Go see a financial professional and remember cash is king.

Albert Said:

How much is reasonable for student loans?

We Answered:

You should never borrow more (all 4 years) than you would earn your first year out of college with no experience. For example: if you are going to be a kinder garden teacher and new k teachers earn 25,000 right out of college with no experience, then this is the max you should borrow for all four years of your college education.

So if the CURRENT degree you are going for will earn you 60-70K a year right out of college with no experience (engineering?) then you might be okay, but not if you are going for a sociology major or a psychology major or elementary ed. Also, you must count the CURRENT degree you are working on, not any post degree plans you might have... you never know if you will get into that grad/medical/pharmacy program!

Be aware the federal government has a max amount you can borrow per year in Stafford loans. (in other words, you aren't going to qualify for 10,000 in student loans). The max a dependent freshman can borrow is only 5,500 a year. If you need more than this, you are going to have to ask your low income parents to take out a parent PLUS loan for you. Parent plus loans require your folks to start making payments immediately upon you starting school.

Your choice to attend a private school may take it's toll on them economically, as your school isn't going to get cheaper as you go. So they will also be required to take out another PLUS loan for you (with an additional payment) your second year... and the process will repeat again when you are a junior and a senior. By the time you are a senior they will have 4 loans with four separate payments they are paying on. You will also have 4 separate student (Stafford loans) when you graduate. Your loans will require you to make payments on them 6 months after you graduate or you drop out (so don't drop out).

Kelly Said:

Student loans can you file bankrupcy?

We Answered:

21. Discharge (having your loan forgiven). We will
discharge (forgive) your loan if:
· You die. The DirectLoanServicingCenter must
receive acceptable documentation of your death, as
defined in the Act.
· Your loan is discharged in bankruptcy. However,
federal student loans are not automatically
discharged if you file for bankruptcy. In order to have
your loan discharged in bankruptcy, you must prove
to the bankruptcy court that repaying the loan would
cause undue hardship.
· You become totally and permanently disabled
(as defined in the Act) and meet certain other
requirements.

Loretta Said:

Parent Plus student loans?

We Answered:

Yes. I found interesting information about your answer, college loans, scholarships, college grants here. Goodhttp://all-student-loan-consolidation.bl… luck!