Ramon Said:

Advice for a young student with credit card debt?

We Answered:

Pay off the one with the highest interest rate first. Interest can kill, sometimes that accounts for more than half of the debt in the end. Or, if you have one with a low balance that would be easier to pay off that would be good, too because it would stop all future interest on that card.

We could recommend a more detailed plan if we knew how much was on each card and the APR for each.

In order to rebuild your credit, I would cut up all but the card with the lowest APR (request a replacement due to damages if you've already cut it up) and request that the limit be kept at the minimum possible. This way you won't be able to charge extravagant amounts and you can start rebuilding your credit today.

Fred Said:

PLEASE ANSWER: NYU loans for psychology student?

We Answered:

universities.atwebpages.com - try this site. It has info about different US student loans and scholarships.

Helen Said:

Is it possible to get student loans for cosmetology school that helps pay for cost of living with bad credit?

We Answered:

The first question I would ask your new school is if they qualify for federal student aid -- only accredited schools (which includes some cosmetology and other career/technical schools) will qualify. If you don't want to ask, go to www.fafsa.ed.gov to find out -- they have schools listed (go to Search for School Code). And if they do, they will probably have a financial aid office or financial aid officer that can assist you with figuring out how you can afford school -- which actually means you should fill out the Free Application for Federal Student Aid (FAFSA) on the www.fafsa.ed.gov website to determine what kind of federal aid you would qualify for including student loans. These are the best loans because they have a relatively low interest rate (it's capped at 8.75%) and the repayment terms are relatively flexible and the interest you pay on the loan is tax deductible.

Additionally, I know of one instance where I live in which a career/technical school does not qualify for federal student aid but they have their own financial aid office which provided loans (among other forms of support) directly to students to attend the school. So, in short, check with your school and see if they can provide you with any guidance in this area.

Generally speaking, secured loans (like from the bank) often depend on your credit and assets -- if you don't have anything they can take (e. g. property - real estate/house/apt, car) should you default on your loan, it'll be difficult to get. Unsecured loans (like credit cards) may be a little easier but the interest rates are killer. I know this isn't much help but hopefully it'll be more options for you to pursue. Good luck!