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Student Loan Balance

June Said:

Where can I check my student loan balance?

We Answered:

Yes to all of this information:
1) go to www.nslds.ed.gov This is the National Student Loan Data System
2) Click Financial Aid Review
3) Provide your information
4) Find any loans in question
5) Click the number off to the left of the loan, this will tell you all the information about it, including how to contact your lender, and the lender's name. You can call them and ask how you can go about making a payment.

Beverly Said:

What jobs will help reduce or forgive my student loan balance?

We Answered:

Different loans qualify for different programs with different occupations. You should contact your lender to see what types of loan forgiveness and discharge policies they have. This book has details on page 43 - 46 about the different types of jobs that might get your loan forgiven. It's not as easy or as pretty as you think. The new one that has been advertised quite a bit lately for those who work in "public service jobs" requires the individual to work and make payments on their student loans for 10 years before the remaining balance (if any) will be forgiven.

http://studentaid.ed.gov/students/attach…

Andrew Said:

How does having a high balance for student loans effect your ability to get a home loan?

We Answered:

Take your salary. Double it, subtract out the student loans, car loans and credit card debt.

The result *might* be the amount of home loan you can take out. Add to this your 10-20% downpayment and you'll get an idea of hte house you can afford.

Seriously, pay the student loans first, then look for a house.

Cheryl Said:

0 balance in my credit file for a student loan. Do I have to wait seven years or request now to be remove?

We Answered:

No, it will be there, and usually you want it there to show you paid it off (if you have no negative payments with them) and it IMPROVES your credit score. Sadly, I had loans I paid off 10 years before still showing, If it's all god news it's great to keep it, if it has a few late payments, at least explain why in the future. Hope it is a all good!

Joe Said:

Should a wife help her husband make payments on his student loan?

We Answered:

Making payments on his account will not affect her credit rating.

She is contributing to the family by making the money. He is contributing by caring for their son. The money is his just as much as hers.

Denise Said:

$3700 student loan at 7%. Credit card offer for 5% until the balance is paid off. Do I trnsfr? Affect on FICO?

We Answered:

If your income is below a certain limit the interest on your student loan may be tax deductible. Interest on a credit card is not. In general student loans do not effect credit scores as much as credit card debt.

You might try looking around for a company that will let you consolidate your student loan at a lower interest rate.

Wendy Said:

Would it be a good idea to get a Private Student Loan to pay Credit Card balance?

We Answered:

So you want to take out a loan that CAN'T be discharged in bankruptcy, with the KGB (in mean IRS) as the collection agency, to pay of an UNSECURED loan that would be the FIRST to be discharged in any bankruptcy, if they are even sufficiently competent to go after you.

Your cards ARE NOT holding you back. They are SYMPTOMS of spending money you don't have. That BEHAVIOR is holding you back. LYING to yourself about paying them off with another loan won't fix that.

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