Allan Said:

How did people pay for medical school before government student loans?

We Answered:

EIther they came from money or were sponsored by a rich patron. There were grants or scholarships for the very fortunate.

Charlene Said:

Why is it that the more the government subsidizes student loans and grants the higher college tuition grows?

We Answered:

Yes! The college just says ....... take out a loan. And off you go to college. Worse, you take out a loan 'per semester'. You can easily graduate with 8 student loans. Some can be consolidated into one. Others, you are stuck with. I know people with three loan payments a month for their college bill. It is all a scam. Colleges are growing into an 'experience', instead of just the 'basic education'. This means fancy dorms, rock-climbing walls. gourmet cafeterias. These all cost $$$$. Kids today want fancy. And as long as the college has a steady supply of anyone with a check, they will continue to spend to meet student wishes. In many colleges, it is a 'keeping up with the Jones mentality'. One college lost enrollment. They were the lowest cost in a 5 county area. Their solution? Increase tuition. Enrollment shot up 15%! No worry. Just bill the student loans. Example, when I went to college one weeks minimum wage job covered the cost of one 3 hr class. Today, one weeks minimum wage job covers one credit hour!

Ruben Said:

I have a large amount in government student loans. Is there a way to pay them off by doing community service?

We Answered:

Americorps is a great program. You can be a full or part time volunteer in many different organizations. You sign up for a year and while you are volunteering you get a living stipend, health insurance, and your loans can be deferred. At the end of the year, they give you money for school or to pay back your loans; full time members get nearly five thousand dollars and part time gets about half that.
It's a great thing to put on your resume, and you can learn a lot. Check out the website.

There is also the Peace Corps, of course, if you are willing to leave the country. They also have a website.

Bessie Said:

Can I use Government Student loans to file bankruptcy?

We Answered:

While it is certainly distressing to hear yet another person filing bankruptcy, government subsidized student loans are a privilege. I am concerned for future students who "rely" on government student loans for the purposes of completing their education without having to be overly concerned about finances.

Do you plan to include your government student loans as part of the bankruptcy settlement? I'll be honest; I disagree with this action wholeheartedly. College students have enough difficulty qualifying for these loans. If a majority of students file bankruptcy, then the Board of Education will take that into consideration and there will be further restrictions on applicants.

I realize your circumstances are very unfortunate and I sympathize with you. When refunds are disbursed to students, ideally, the money is to be used in a manner to assist the student with daiIy living expenses after books, fees, and tuition has been paid.

It is my understanding that once the refund has been distributed to the student, he/she determines how it is spent.

I suggest you speak with your school's financial aid officer before you do something foolish.