Arlene Said:

What is the best way to resolve your student loan debts?

We Answered:

Drop off "the grid", man...those things never go away!
...other than that -- there's always "lovers leap"

Mathew Said:

How to get lost payment to ACS student loans resolved?

We Answered:

If you can go into the office, take your copies of the check and all the emails and talk to someone. You are most likely getting a different person each time you call and they are just looking at the recent notes not any previous ones, so they keep pushing it off. If you can only call ask for the manager, if the person wants to help, tell them politely that you will speak to the manager about the issue. Make sure you have dates and information at your hand to be able to prove that you have been in contact ACS all this time and it was not your fault.

Dana Said:

Republicans cut student loans by 14 billion, so why would any young person vote Republican?

We Answered:

Heaven forbid if we should invest in our younger generation! I just don't get it....$25 million for bridges to nowhere, $111 million for a rainforest in Iowa, countless $$ for Iraq, but to LOAN our kids money for education?
Grrr...Republicans really tick me off

Edna Said:

I qualify for financial aid but defaulted on student loan is there anyway to resolve my loan?

We Answered:

David:

You didn't provide sufficient information for anyone to offer you a precise answer. The answer is different depending on whether you have government loans (Stafford, Perkins), private loans, or a combination of the two.

I'm going to assume that it's a government loan that you are worried about - a past Stafford, most likely, that you were forced to allow to slide into default. There are only three ways to voluntarily resolve the status of a defaulted Stafford loan.

1. You can pay it. Obviously, that's not an option for you at this point.

2. You can rehabilitate it. Also, unlikely to be a useful option, because rehabilitation means arranging a payment schedule with the lender, and making 9 consecutive on-time payments. One, you can't afford it now, and two, you want to register for classes in less than 9 months.

3. You can consolidate it. A consolidation is a new loan that replaces the defaulted loan. The government is amazingly cooperative about allowing the consolidation of defaulted loans. Consolidation is definitely NOT for everyone - and you must be certain that you understand that the very significant downside of a consolidation loan is that you'll wind up paying back far more under the new loan than you would have under the old one. A consolidation loan works by extending the payment period on your debt - instead of a 10-year repayment schedule, the consolidation loan will have a 15 or maybe even 20-year repayment. You don't have to be an 'expert' on loans to realize that the longer it takes you to repay a loan, the more interest you pay.

If you are interested in finding out more about the option of consolidating your loan, I'd recommend that you take a look at the Willam D. Ford Direct Consolidation program - this is yet another one of the Department of Education's educational loan offerings. You can find information on that program here: https://loanconsolidation.ed.gov/AppEntr…

You'll find explanations of how to qualify, how to apply, and questions and answers explaining the types of situations for which consolidation makes sense.

I hope that information helps you - good luck!

Micheal Said:

How can my daughter get approved for student loans without a cosigner? She has a 4.65 GPA.?

We Answered:

Go to FAFSA.gov to fill out the FAFSA for free. That's government issued loans and grants.

You can speak with the financial aid department at her school as well, they may be able to help her out or figure out a feasible payment plan for you.

As for student loans... you don't always need a cosigner. My fiance has a student loan through a bank and it's his name only. He does work for the bank though, so that may be why. :

From what I understand though, you'll most likely need a cosigner. I qualify for the highest amount of federal aid and it's not even 6k for the school year.

Have her apply for hundreds of scholarships too. Depending on her heritage, she could get a LOT of help from that. I have a Cherokee friend and she has a free ride to just about any school for a year just because she's Cherokee. I don't know the name of her scholarship but it's $25,000.

With such a high GPA it should be pretty easy for her to get a few scholarships.

I use http://www.fastweb.com/ to apply for scholarships. You fill out info about yourself and it shows you the hundreds and hundreds of scholarships that you're able to apply to based on that info. They'll e-mail you new ones every day if you want.

You can also try to do some kind of fundraiser. Maybe a bake sale? You'll probably only get a few hundred dollars... but there's the money for her first semester of books! Do you have any relatives that would cosign for her? Or maybe even wealthy ones that would lend her interest free money?