You are here: Home
May 19, 2012

Q&A: Are Student Loans/Grants considered “Income” when trying to buy a Foreclosed Apartment through Mortgage Loans?

By · Leave a Comment
Student Loans And Grants
Hello… I’m interested in buying a foreclosed apartment through mortgage. My only income is student loans and grants, can I use federal aid such as this for income? Thank you!!

Federal Grants And Loans
Resolutions relating to Federal Grants And Loans problems

Answered by geminisrhule
no. if you want to buy something like that, you should probably get a job.
Answered by kelia!
No. Those are not considered income as those are federal monies not allowed to be used for anything not related to school.
Answered by **Due 1/9/2010**
No you can’t. Student loans count as debt, not income.
Answered by Eric
Not any more. Two years ago, we could have gotten you a McMansion on that income. Lenders are looking hard at how you will pay it back, long term, now.

Student Loans And Grants title=

Student Loans And Grants
I have a few student loans from last year and a couple pell grants. And since tax season is almost here, i just want to know whats going to happen? Do i pay taxes on the money i recieved for college? Also, I barely worked bc i was taking so many classes. But I have to file to recieve further financial aide. So am i going to pay out of pocket? or will the taxes still be income based?

Government BUSiness Loans And Grants
Answers related to Government BUSiness Loans And Grants concerns

Answered by wartz
No. Loans are not income.
Answered by Jurassic Park Dino
I just answered a similar question a few minutes ago. So here it is & hope it helps.

Student Financial Aid refers to funding intended to help students pay educational expenses including tuition and fees, room and board…, right? So being taxable depends on what kind of FinAid. Two main ones are:

1. Qualified scholarships and fellowships are treated as tax-free amounts if all of the following conditions are met:

-You are a candidate for a degree at an educational institution,
-Amounts you receive as a scholarship or fellowship are used for tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses of instruction, and
-The amounts received are not a payment for your services.

2. Qualified Student Loans are not taxable at the time you get the money and should not be included as income in your return. A loan is not income, because you are expected to repay the amount borrowed (plus interest). Interest is deductible.

Qualified Student Loan
- This is a loan you took out solely to pay qualified education expenses that were:
- For you, your spouse, or a person who was your dependent when you took out the loan,
- Paid or incurred within a reasonable period of time before or after you took out the loan, and
-For education provided during an academic period for an eligible student.

! Loans from the following sources are not qualified student loans. So should include as income & taxable.
- A related person
- A qualified employer plan.

Any student earned income to finance education is taxable.

Student Loans And Grants title=

Student Loans And Grants
I already filled out the fafsa, but thanks to their uselessness, I doubt I’ll receive anything for my 1st year of college. I’m seeking safe ans reputable student loans, as well as grants, that don’t require filling out the fafsa.

Veteran BUSiness Loans And Grants
Right answers connected to Veteran BUSiness Loans And Grants matters

Student Loans And Grants title=

Filed Under: Loans and Grants · Tagged: , , , , , ,
May 19, 2012

Do student federal loan contact you after you send your defer paper?

By · Leave a Comment
Federal Student Loan Contact
how will you know they defer it or not?

Government Small BUSiness Grants And Loans
Advice related to Government Small BUSiness Grants And Loans troubles

Answered by Ryan M
They will send you either a letter of your status OR they will send you a monthly bill.

Federal Student Loans

Federal Student Loan Contact
I DEFAULTED ON FEDERAL STUDENT LOAN AND DONT KNOW HOW TO CONTACT TO START REPAYMENT

Education Loans And Grants
Replies related to Education Loans And Grants troubles

Answered by Suddenly Human
Call the Department of Education at 1-800-4FEDAID and they will be able to give you the contact info of who owns your student loans now.

Federal Student Loans

Federal Student Loan Contact
It has been 17 years since my last college class and I thought for sure all of my loans were paid off. But to my surprise I received a letter from a collection agency in regard to a $ 3,000 outstanding federal loan. When asked why they did not contact me in the last 17 years they said they had tried, which is unbelievable as I have lived only 3 places in that amount of time. My question is that I am worried that I have already paid this $ 3,000 and am wondering if I have any recourse because of the legnth of time to not pay the $ 3,000. Thanks ahead of time for your help.

Federal BUSiness Loans And Grants
Replies associated with Federal BUSiness Loans And Grants difficulties

Answered by Found-1
There is no “statute of limitations” on student loans if that is what you are asking. If indeed, you did not pay off the loan from 17 years ago you are still obligated to pay it.

Make payment arrangements quickly, if you don’t, they will likely start garnishing your paychecks and seizing your income tax returns.

Answered by leslie
i know that it just might feel wrong doing it but pay it off, it could be reeking havoc on your credit. a lot of times if you talk to them they will take away the interest and lower what you owe.
Answered by kimba T
Spectacular info about your Question HERE:

http://all-student-loan-consolidation.blogspot.com

(student loans, scholarships, gov aid footer & partime jobs)
Good luck!

Federal Student Loans
See original article: Federal Student Loans

Filed Under: Federal Student Loans · Tagged: , , , , , , , ,
May 17, 2012

Can someone give me REAL advice as to how much mortgage I’d qualify for?

By · Leave a Comment
Pension Loans Online
I’ve looked at a trillion online calculators and they ALL give answers that are just all over the map.

Here’s my situation: If anyone can help ease my mind with some REAL insight, I’d be SO appreciative.

I make $ 50k a year. My credit score is at least 720. This is what I scored about two months ago PRIOR to paying off my credit cards and a personal loan I had. Never missed a payment, never was late on one either.

My debt to income ratio is 11 percent.

I have $ 10k for a down payment and an extra $ 3k for closing costs. When the time comes to buy a house (which will be this summer, God willing), I MAY have $ 15k to put down instead of the $ 10.)

I live in CT. Property tax, on the high end will probably be $ 3,500/a year. Insurance per year I’m guessing will be $ 1,000……<---it's probably less than that, I don't know how much house insurance really costs when it comes down to it.

I have $ 10k in a pension plan and $ 12k in my 401(k).

What are the chances I will get approved for a $ 170 or $ 180k mortgage? Is this possible? Or am I stretching it? Note I am the ONLY buyer/owner of this house.

Thanks guys!

Minority BUSiness Loans And Grants
Right answers linked to Minority BUSiness Loans And Grants problems

Answered by bearr41
Well, use one of the calculators to figure out what your payment will be. Don’t forget insurance.

Then put that much away for the next few months. If you can do it, then you should be okay. Don’t forget that you will have a few extra maintenance costs like yard care, a washer and dryer, and higher utility bills.

The only way to know if you can swing it is to give it a trial run. If you can live without that $ 2,000 or so each month, then you will be okay. Have you had $ 2,000 (minus your current rent) left over at the end of of the last 6 months or so?

Notice that I am not talking about what you will qualify for, I am talking about what you can afford. Trying to buy a house equal to almost 4 times your income seems pretty high to me, but I live in Texas where houses are cheap.

You sound like you are prepared and have what you need to take to the table. Personally, I would also try to have 6 month’s in an emergency fund. Perhaps instead of putting that extra $ 5K down you should keep it on hand.

I am not sure you will be able to do the deal with so litlte down though. Typically you want 10% (20% if you want to avoid PMI. That means you should have a minimum of $ 17 or 18K to put down and preferably twice that.

Good Luck!

Answered by kenbess67
I just applied for a mortgage months ago and got approved for a house 3 times my annual income. I think you can expect 150K or better. You certainly appear more than able to accomodate that given you’ve paid off a lot of debt and have a solid savings in place. You are in a good position to get approved. Remember this. Just because you get approved doesn’t mean you’re prequalified…a realtor wants to know if you’re prequalified so you know a real number (house price) that you can afford given your debt load. I hope this helps and hats off to you for paying off debt and saving for the future.
Answered by estielmo
No. The only ones who can give you more than a ballpark guess is a banker or mortgage broker who will review all your personal financial details and help you get pre-approved for a loan. Only then will you know for certain.
Answered by ☼AstrologerJuliAnne☼
If you want a 170 to 180k house, you better save up another 15 to 20k. I would say a conservative estimate would be a mortgage of 150k. You can buy a house that is more than 150k, but you are going to have to come up with the extra money. You don’t want to be house poor. Too many people are in that situation right now.

Loan For Pensioners

Pension Loans Online
I am living in england, im 22 and im saving for a deposit. I have read endless advice about mortgages online but thought i would ask some specific questions. Here is my situation:
-I am a university graduate with a student loan that I am paying back at the default rate.
-I am engaged to a girl the same age as me with an income of £19,000 (senior school teacher)
-My income is £26,500 on a permanent contract
-I have an overdraft on an old student account that i am paying off (the over draft is interest free) that totals £1000, I will add that i am paying this off steadily.
-I don’t have any credit cards but have lots of direct debits (mobile phone, gym, car insurance, pension etc)
-I am saving in a Nationwide SaveToBuy account for first time buyers (Joint account with my fiancee) we save roughly £500 per month and are looking to apply for a mortgage next summer (2013)

Will i come up against any unforseen problems when it comes to application time? I would like to know about any issues now rather than in a year!?!

Thanks in advance.
-

Loans And Grants For Students
Answers related to Loans And Grants For Students problems

Answered by Rick B
My only advice is to pay off that overdraft debt and the student loans BEFORE buying a house.

You say you are engaged and plan to buy the house in the summer of 2013, but you don’t say when you are getting married. Get married BEFORE buying the house.

Good luck.

Answered by sunshine_mel
- pay off your overdraft
- check your credit rating (experian – can check it for free)
- save at least 10% of the property, and have a few thousand for costs

Also I’d recommend you get married before purchasing a place; makes the paperwork easier, and also you’re obviously less likely to back out together if you’re married!

Loan For Pensioners

Pension Loans Online
Does anyone know that the so-called “economic prosperity” of the 90s was primarily due to a massive amount of FRAUD that was going on in the venture capitalist community? Does anyone even know that the majority of jobs created and businesses started were funded by shady venture capitalists who were propping up online enterprises they know would lose so they could cash out on discounted stock options when your family’s retirement pension invested in shitty securities?

Did anyone know that the housing crisis today was started TEN YEARS AGO when our banks got a great idea – lend money to customers who couldn’t pay off the loan at a subprime – interest only mortgage and recognize 100% of incoming payments as revenue and passing the principle off to some other sucker through refinancing while greedy and undisciplined homeowners borrowed against their houses to finance irresponsible spending and always figured they could refinance later?
I don’t even know where to start with the accounting scandals that took place starting in the 90s, including Enron and MCI WorldCom who got BUSTED after Clinton left office. People love to blame Bush for that one, but these companies had been practicing crooked bookkeeping long before 2001.

Explain to me why a president who presided over one of the biggest eras of financial FRAUD would consider this an accolade.

Then again, if you are looking for a candidate who champions trechary, dishonesty, and downright moral crookedness, you can’t go wrong with Hillary Clinton.
=====
Harbinger, you should ask the Hill supporters about that one. Truth be told, NEITHER of the Clintons had to do with any of this crap, but this is the argument the Hillary backers seem to keep bringing out. You will have to ask them why it matters that she was first lady when Bill was in office.

Grant And Loans
Replies associated with Grant And Loans issues

Answered by gman9934
Look at at chart of the deficiet for the past 50 years and I think you will see. They are all just puppets to the Federal Reserve and big money America. You do realize that Reagan traded arms with Iran for hostages.
Answered by Harbinger of Truth
Hillary was just the FIRST LADY during the 1990s. So what does she have to do with your statements???
Answered by Yep I said it!
The Clinton’s will go down in US history as a plague on American freedom!

Loan For Pensioners
See original article:
2012 Loan For Pensioners

Filed Under: Pension Loans ·
May 17, 2012

Grants for Home Rehabilitation?

By · Leave a Comment
Home Repair Loans And Grants
My boyfriend just bought his first home. It’s got a lot of potential, but is a bit run down after almost being foreclosed upon and being left vacant for a year. Does anyone know about home repair/rehabilitation grants/loans? I looked at the 203k loan through HUD, but it’s for people who have not yet bought a home or bought their home with cash. He is not in the income range to be considered “poor” (requirement for most loans/grants), but still needs the help b/c the house needs lots of work. Any help would be greatly appreciated. Thanks!!
I called our local city homeowner’s commission and they don’t have any local funds. I’d really appreciate any other ideas. Thanks! :)

College Grants And Loan
Resolutions linked to College Grants And Loan complications

Answered by Not I
Check with your municipality. Any grant money would be administered through them Most prevalent is winterizing your home.
These grants are matching funds. Meaning for every dollar of grant money you have to pay one dollar. So it the job cost 10k then you pay 5k and the grant pays 5k

Goverment Loans And Grants title=

Home Repair Loans And Grants
We are a family of five and bought a home we were told by the seller that it only needed “cosmetic” work. We had it inspected before we bought it but turns out the foundation is bad and the whole house is not shifting because of it. We can’t afford loans and were wondering if there are grants or assistance services avaliable in Kentucky.

Construction Grants And Loans
Solutions related to Construction Grants And Loans situations

Answered by Carole Q
Check with a lawyor & see if possible to get out of the home deal from not all problems being listed.
Check with your city for home improvement for low income. If not the city may have ideas on some programs you can apply for repair assistance. I do not think anyone would help regarding the foundation. No help; at least may have you directed in right direction.
Answered by thewrangler_sw
That home inspector should have caught the foundation problems. You may have legal grounds for a lawsuit there. Check with a lawyer.

As to local grants, you may want to check with your Community Action Agency. They administer most of the Community Service Block Grants across the US. If there is a grant for what you need in your area, they will know about it.

Good Luck

Goverment Loans And Grants title=

Home Repair Loans And Grants
My basement wall has caved in and winter is coming. My husband who used to be a liscensed contractor says that if it is not fixed before winter our house will cave in. We have tried all state and local agencies with no luck. Our insurance through our mortgage company doesn’t cover this type of damage. We have a low income household and we need to know where to look for help.

Federal Grants And Loans Catalog
Responses linked to Federal Grants And Loans Catalog factors

Answered by Found-1
Go to the employment office and see if they have any job openings you or your husband can apply for. Perhaps you both could get second jobs. Home ownership has lots of financial responsibilities.
Answered by imisidro
Grants for home repairs are not given just for anyone.

There is a grant from US Department of Agriculture called 10.417 Very Low-Income Housing Repair Loans and Grants that a senior citizen may qualify to get home repairs grant — but this is for a senior citizen living in a very poor rural community

http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=10.417

USES AND USE RESTRICTIONS
Loan funds may be used to make general repairs and improvements to properties or to remove health and safety hazards. Grant funds may be used only to pay for the costs for repairs and improvements that will remove identified health and safety hazards or to repair or remodel dwellings to make them accessible for houshold members with disabilities. Loans and grants are typically used for repair or replacement of heating, plumbing or electrical services, roof or basic structure as well as water and waste disposal systems, and weatherization. Loans bear an interest rate of one percent and are repaid over a period up to 20 years. In addition to the above purpose, loan funds may be used to modernize the dwelling. Maximum loan amount cannot exceed a cumulative total of $ 20,000 to any eligible person and maximum lifetime grant assistance is $ 7,500 to any eligible person. The house must be located in an eligible rural area which does not exceed 10,000 population. Some places with populations between 10,000 and 25,000 may be eligible if not within a Metropolitan Statistical Area (MSA). Assistance is available in States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana’s and the Trust Territories of the Pacific Islands.

Applicant Eligibility
Applicants must own and occupy a home in a rural area; and be a citizen of the United States or reside in the United States after having been legally admitted for permanent residence or on indefinite parole. Loan recipients must have sufficient income to repay the loan. Grant recipients must be 62 years of age or older and be unable to repay a loan for that part of the assistance received as a grant.

Goverment Loans And Grants title=

Filed Under: Loans and Grants · Tagged: , , , , , ,
May 17, 2012

How do I find ALL my student loans (private and federal)?

By · Leave a Comment
Federal Student Loans Log In
I am trying to get a hold on my loans private and federal.. is there a person i can go to, or a website i can log into to find a list of all of them, and their status? I admit, I’ve not been as responsible as I should have (hind sight is 20/20)–but i realize that now, and I”m trying to do right, and get things in order.. where can i get this information??

School Loans And Grants
Right answers in connection with School Loans And Grants challenges

Answered by yvang619
probably only way is through a credit report. credit report will show you who you owe money to. there is no single place that have all your private and public loans in one spot.
Answered by caba
Try searching with the National Student Loan Database (NSLDS – www.nslds.ed.gov/nslds_SA). That will definitely list all your federal loans, but I am unsure about private. Also check with your financial aid office (or offices, depending on how many schools you went to) – they should have that information as well.

Good luck!

Federal Student Loan Balance

Federal Student Loans Log In
I just finished my first year in which I received student loans. Today I found a letter in the mail that said, “Our records indicate that you have completely withdrawn from Wayne State University for the Spring/Summer 2010 semester.” The problem is, I haven’t withdrawn! In fact, I already have classes scheduled for Fall 2010. On the website, my records show me that I’m a Full-Time student, and have accepted not only my Federal Loans for Fall and Winter 2010, but also multiple Grants.

The National Student Loan Data System website (www.nslds.ed.gov) won’t let me log in, so I can’t check any of that out. Also, it’s Sunday, so I can’t call my school’s financial aid department at the moment. I’m just sort of freaking out here, and would appreciate a second opinion.

Also, I looked high and low but can’t seem to find this anywhere on my school’s website, but I figured it was generally a basic principle. I go to Wayne State University in Detroit, Michigan, if anyone happens to know specifically, or if that helps at all.
Missbliss- my school has Fall (September-December), Winter (January-April/May), and then Spring/Summer (May-August) semesters. I’m assuming you mean just the main chunk of the school year (September-April/May)? Thanks for your help!

Bluekittie- I’ll have to do that first thing tomorrow. Thanks for the info!

Federal Loans And Grants
Right answers regarding Federal Loans And Grants troubles

Answered by EMS
check with the financial aid office at your school. they should be able to tell you if your eligable
Answered by missbliss
You have to take Spring and Fall classes, but you do not have to take summer classes.
Answered by Bluekittie
You can contact nslds without logging in to your account. The telephone number is 1-800-730-8913, 9am-6pm eastern time. From the main page you their is a button at the top to contact them via email. Call them in the morning and tell nslds that you are enrolled for the up-coming semester, some how the paper work did not get entered into your files. They will check with your school to make sure you are enrolled for the semester.Calling the college is a good idea, but with college starting soon the financial office is flooded with calls and paperwork ;your problem may not get addressed soon. If you call nslds, then you know it has bee taken care of. Good Luck

Federal Student Loan Balance

Federal Student Loans Log In
This is very difficult to describe. I attend a small community college. I plan to graduate in December but need to take Summer classes to do so. I have used all my grants, federal loans, etc. through my school for the previous semester. The financial aid advisor told me there are no other options unless I do the Parent Plus loan. There’s no way I want my parents involved, besides, they have worse credit than I do. So I’ve applied to a few places online and have been denied due probably to low income. I can’t get a part-time job on top of the job I have. What should I do??? I need to graduate but the money aspect is holding me back. I have tried SallieMae but once I log on it brings me to a blank page, so…. can’t apply there. What are some other companies who have a high approval rating?

Co-signing is another problem – been there, done that. Like I said, my parents have worse credit than I do so of course I was denied from another company.

Any help is much appreciated!
Need the money ASAP. I have a summer class starting on the 19th and still have no book and the tuition is partially paid.

Grants And Loans For BUSiness
The right answers linked to Grants And Loans For BUSiness problems

Answered by Found-1
If your parents truly have bad credit and you expect them to get turned down for the parent PLUS loan your fin aid advisor was talking about what you could do is have your parents apply, and when they are turned down due to bad credit the school will automatically offer you the PLUS loan in your name. The kicker is your parents have to be declined FIRST before they will offer it to you.
It might be worth a try. And you could tell your parents if they are NOT turned down for some reason, you (and them) can simply decide not to take out the PLUS loan and go another way.

Federal Student Loan Balance
See more here: Federal Student Loan Balance

Filed Under: Federal Student Loans · Tagged: , , , , ,
May 16, 2012

Government grants for new Business’s?

By · 1 Comment
New Business Loans And Grants
I am looking to open a new business and i was wondering if anyone know’s if the government does a grant scheme for first time business.

an example of what i mean is, let say i want to open a new restaurant and have not got the money to do so, could i apply for some kind of grant / loan from the government for them to fund this…?

any suggestion are well come even web page links :)

Thank You

Federal BUSiness Loans And Grants
Replies related to Federal BUSiness Loans And Grants challenges

Answered by someone
No the grants are for minorities and women. Any available are administered through the Small Business Agency and those are matching grants. Meaning you need to have 50k in cash to get 25k or 50k grant
Answered by Henry
Go to http://grants.gov/ and follow the instructions. You will find that unless you are a nonprofit, in basic research or daycare, there are no grants for a small business.

Student Loans And Grants For College title=

New Business Loans And Grants
I purchased an existing video and games store January 1,2008. Local financial institutes do not make loans to a new businesses. I need working capital for my business to continue.

Minority BUSiness Loans And Grants
Resolutions connected to Minority BUSiness Loans And Grants difficulties

Answered by tkahrs12122
Have you tried the Small Business Administration. This is a government agency just for someone like you.
Answered by Meka
They have loans for women who are starting small businesses. I would talk to a bank about your many options because you can get a grant for being a woman owning a business and becuse you’re a minority that’s even better. Girl, you have so many options. Talk to your local bank or a financial advisor. Good luck!! What are you selling?
Answered by Digital Age
SBA…Small Business Administration.
Answered by irokwell
I am also a woman and started my own business in 2005. The SBA is a waste of time for just conventional money. They offer grants to medical researches or education based programs but not much based on everyday businesses.

Banks require 2 years of bank statements and financial docs to offer any kind of loan.

Your best bet is to take equity out of a home or car.. sell assets.. 401ks… family help or inheritance… or previous investments.

I wish you the best of luck! You WILL get through it.. I promise!

Answered by Alan E
You can start building your business credit separate from your personal credit. You need to be listed in 411 under the business first of all. Then you can apply and get cell phones, or Staples, Office Depot revolving credit and once you have a few payments you can move on to bigger things.

Happily answered by Alan.

http://www.bizcreditebook.com/

Student Loans And Grants For College title=

Student Loans And Grants For College title=

Filed Under: Loans and Grants · Tagged: , , ,
May 15, 2012

Sallie Mae Federal Student Loan Lenders?

By · Leave a Comment
Is Sallie Mae A Federal Student Loan
I am participating in the FEFL loan with Sallie Mae, and I have a choice of lenders, which one is the best (out of the following) and why?
Sallie Mae Education Trust
AMS Education Loan Trust/Wilmington
Student Loan Funding
Fifth Third Bank
Regions Bank

Small BUSiness Loans And Grants For Women
Right answers related to Small BUSiness Loans And Grants For Women factors

Answered by Sunshine
Sallie Mae Ed Trust – because I love Sallie Mae!
Answered by Dr. Mamta
Your child should apply for a Stafford loan in the late spring or early summer before heading off to college because processing the loan can take four to six weeks. When the school participates in the Federal Direct Student Loan Program, you don’t have to scout around for a lender — the school’s financial-aid office will tell you how to apply.

If you have an FFEL Stafford loan, you can choose your own lender. The interest rate and loan terms will be the same just about anywhere you go, although it’s possible to find a lender offering slightly lower fees to attract more student-loan business. The differences aren’t huge, so it doesn’t pay to spend a lot of time shopping for a lender, but checking with a few might save you a little money down the road.

If you want to trim your child’s costs in repayment, look for a lender that sells its student loans to Sallie Mae. The Student Loan Marketing Association, aka Sallie Mae, is the largest buyer of student loans on the secondary market (where banks sell their loans to raise additional money to lend). Sallie Mae owns about one-third of all student loans. In order to make its packages of student loans most appealing to investors, Sallie Mae offers incentives for student borrowers to repay on time, including:

* A one-fourth-percentage-point break for setting up automatic loan payments from a bank account, and

* A one-percentage-point break in the interest rate after you make four years of on-time payments, which is effortless with automatic debits.

The total savings on a $ 17,125 balance (the most a graduate who finishes in four years can borrow) over the standard ten-year term could be more than $ 1,700. To find a bank in your state that sells its loans to Sallie Mae, call 800-891-4595 for the free brochure “Borrowing for College.” Or visit Sallie Mae’s Web site.

http://loan-house.we.bs/studentloan.html

Good Luck…

Federal College Loans For Students

Is Sallie Mae A Federal Student Loan
Filling out the FAFSA for grad school now, and I know I had lots of subsidized and unsubsidized loans through Sallie Mae while I got my B.A. Would this be considered federal student aid? Thanks.

PS – Even if you see the right answers written here, please also put what you know to be true, so that I have assurance through numbers. Thanks.

Loans And Grants
Information relevant to Loans And Grants concerns

Answered by Slim
YES IT IS. THE GOVT PAYS THE INTEREST

http://www.salliemae.com/

Answered by ABetterLife
Yes, anything that gives you $ $ for school is aid, including grants (although you don’t pay those back).
Answered by Antony
Yes, a Sallie Mae is a lender for the federal stafford loan!

Federal College Loans For Students

Is Sallie Mae A Federal Student Loan
I need to know if there are any finance companies that would consolidate my loans when my credit is not all that great. I really need to consolidate these so I can get my cosigner off of the sallie mae loan. I also own no home so I cant use that for collatoral.

Veteran BUSiness Loans And Grants
Resolutions based on Veteran BUSiness Loans And Grants difficulties

Answered by FinAidGrrl
Please don’t consolidate your federal loans with your private loan (i.e. the loan you refer to as “Sallie Mae”). Federal Loan Consolidation is a wonderful program offered by the federal government that will allow you to combine your federal loans into one loan, fix their interest rate, and extend your repayment term up to 30 years. There are a number of reputable companies that offer Federal Consolidation and any legitimate company won’t allow you to add your private loans into the consolidation “mix.”

Usually, you can remove your cosigner from your loan simply by making a certain number of payments on time (sometimes 24 or 36) and filling out a “cosigner release” form. There IS such a thing as a “private loan consolidation,” a.k.a. “private consolidation loan.” However, in most cases, if you don’t have good credit, you will need a cosigner to get the new loan. In the end, it’ll be faster to keep paying your private loan and obtain a cosigner release ASAP.

Answered by Kwijibo
Just dont pay that shit. This is america, you dont hafta do what you dont wanna do!
Answered by carlos
There you go : http://students-loans-consolidations.com/

Federal College Loans For Students
See the article here: Federal College Loans For Students

Filed Under: Federal Student Loans · Tagged: , , , , , ,
May 14, 2012

What are the tax liabilities for personal loans and gifting of money?

By · Leave a Comment
Personal Grants And Loans
If someone were to grant a large personal loan to someone else (100K or larger) what are the tax liabilities or responsibilities of the lender and the borrower – if any?

Loans And Grants For Women
Replies relevant to Loans And Grants For Women situations

Answered by s g
There are no tax liabilities on loans, but rather what you buy with the loan.
Answered by STEVEN F
You don’t mention what country you are in. Under US tax law. The borrower has NO tax related to a loan. The lender would include the interest portion of payments in their total income for tax purposes, and pay the same rate as normal income. In the case of a gift, the receiver has no tax. The giver can give up to $ 12,000 per year to each recipient with not tax results. Above that amount, a gift tax return must be filed, but up to $ 1 million can be given in a lifetime before taxes are actually paid.

Nursing School Loans And Grants title=

Personal Grants And Loans
I have a balance left over at school and I have already used my Pell grant for this year, and all my Stafford loans, subsidized and unsubsidized. What options are left? My credit is okay, but I am not sure it is good enough to get a personal loan. Please help! I graduate after 2 more semesters and I would hate to not finish because I can’t afford it.

Small BUSiness Government Grants And Loans
Information regarding Small BUSiness Government Grants And Loans factors

Answered by stagemanagerchick
You could try work study or borrow from a friend or relative. You may be forced to take a semester off so that you can work and save enough to pay the bill. The worst thing you could do would be to put it on a credit card.
Answered by Christ
Get another grant by other means and pay your all your loans now. Receive $ 2,500 – $ 7,500 in Grant Money @ http://bit.ly/acTFal

Nursing School Loans And Grants title=

Personal Grants And Loans
I need a couple thousand for a car and down payment on a house where can I get a personal loan or personal grant

Minority Loans And Grants
Advice relevant to Minority Loans And Grants situations

Answered by Common Sense
Grant? Yeah, right.
Loans? try a bank.
Answered by Bet
Not sure about the grant, but you can get loans from 99% of banks.
Answered by David M
Same place you would get money from the Tooth Fairy. Where do people get the idea that there are grants for stuff like this? I guess this comes from the entitlement society Obama is turning us into. “Where’s mine?”
Answered by Dave
There are no “personal grants.” That’s internet scam/BS.
Answered by Appraiser guy
No such thing.

Nursing School Loans And Grants title=

Filed Under: Loans and Grants · Tagged: , , , , ,
May 14, 2012

When Does Interest start to accrue for Federal Student Aid Loans?

By · 1 Comment
Federal Student Aid Loans
I get FAFSA student loans, but i don’t receive a check from my school for months after my Loan statements claim the the funds were disbursed. Am I paying for interest during this period? When does the interest start?

(I get Stafford Loans and Grad Plus Loans)

Free Grants And Loans
Right answers connected to Free Grants And Loans issues

Answered by Anonymous
you start getting charged interest immediately so yes. Keep in mind that sometimes you don’t have any aid left over so you may not even have a refund. Legally schools can’t disburse funds until at least 4 weeks after the semester has started if you are a first time borrower… some schools won’t dis purse until MUCH later if you filled out (or turned in) all your paperwork late.

(Late is anytime after the semester has already started and not 6 months BEFORE school starts). Example: you would of had to do your fafsa back in Feb and March and turned in all your tax forms back then to get aid 4 weeks after the Jan semester has started.

Answered by spalmer
Federal loans accrue interest the date that the money is disbursed to the school. You may not receive the money for several weeks… or at all (if you don’t get a refund). If you aren’t receiving a check for months after the semester starts, I would question the financial aid office at your school. Most schools distribute refunds within 3-6 weeks after the semester start date — are you turing in all your paperwork early Spring each year?
Answered by PETA
Subsidized Stafford interest begins when the loan is in repayment not while you are in school.

Unsubsidized Stafford and Grad Plus the interest begins at disbursement.

From http://www.ifap.ed.gov/dlbulletins/attachments/DLB0703Attach.pdf: http://www.ifap.ed.gov/dlbulletins/attachments/DLB0703Attach.pdf

As you can see you can defer payback of your direct loan until after you graduate or fall below half time or quit.

What you want to do with your unsubsidized interest and direct loan interest is pay it back before you go into repayment of those loans. Why? Because otherwise that interest will be added to the total loan amount and then you will be paying interest on that amount increasing your payback amount significantly.
Pay your interest yearly is what I was advised to do. You cannot pay it ahead of time as it accrues daily.

Federal Student Loans

Federal Student Aid Loans
I have an expected contribution of $ 2,500…. I have no idea what that means.

Loans And Grants For College
Responses based on Loans And Grants For College difficulties

Federal Student Loans

Federal Student Aid Loans

Free Government Loans And Grants
Solutions relevant to Free Government Loans And Grants challenges

Answered by john
Idk if it’s still ten years, I think it’s twenty now, but you get ten or twenty years to pay it off otherwise it becomes a debt
Answered by John
If you’re having trouble making payments on your loans, there are options like changing your repayment plan.

If you are defaulting on the loan (you fail to make your loan payments as scheduled on the agreement you signed), these are some possible consequences (as per studentaid.ed.gov):

1) National credit bureaus can be notified of your default, which will harm your credit rating, making it hard to buy a car or a house.
2) You will be ineligible for additional federal student aid if you decide to return to school.
3) Loan payments can be deducted from your paycheck.
4) State and federal income tax refunds can be withheld and applied toward the amount you owe.
5) You will have to pay late fees and collection costs on top of what you already owe
6) You can be sued.

Federal Student Loans
Read More: Federal Student Loans

Filed Under: Federal Student Loans · Tagged: , , , , , ,
May 12, 2012

Can anyone tell me approximately how much in student loans/grants is the average for a single mother of 2?

By · Leave a Comment
Loans And Grants For Single Mothers
now i know it differs for everyone. but say for those of us who have hardly any income for 2010/2011 (under 15K, say), no child support and just food stamps. i’m assuming the typical loans to begin w/ would be pell grant and stafford loan? i got these over a decade again pre-motherhood when i was in my mid to late 20′s but not sure how much my loans totalled to now that i look back.

and i’m not sure how much more is typically given to single parents, head of household, no child support. no current job, no other income, no debts, re-entering college w/ no college degrees under their belt? can anyone out there give me a roundabout? something? and if you know of any scholarships for single moms/parents like me trying to be self sufficient and drama free please let me know. ;) f/t college is a workload in itself along w/ 24/7 of solo parenting mamahood. would sure love to not have to worry about getting a job while i go. thank you!
ps-i am 41.

Government Small BUSiness Grants And Loans
Responses regarding Government Small BUSiness Grants And Loans concerns

Answered by Kyle Busch is an 尻 ™
Every case is different, there is no average or approximate figure.

There are NO scholarships for “single moms,” as it would be discriminatory against you women without children.

Answered by TheSub
There actually are scholarships for single mothers, as well as for women returning to college after a certain age (usually at least 25, no previous degree). Look them up on the financial aid section of the school’s website or go to scholarships.com or fastweb scholarships. You are far below the poverty line, so you will definitely receive the full amount possible of pell grant money (last year I was just under 100% of the poverty line and received the full amount possible of the TEACH grant, which is a type of pell grant). If you need additional money you can take out a private bank loan.

You probably will need to work, though. Look for student employment on campus. Usually the shifts are shorter to accommodate full time students’ schedules.

Answered by Gypsy
1) You need to find out your FAFSA history… because those classes you took years ago no longer count toward your degree; however, they do count toward your total allowed use of FAFSA…..
It used to be that you could use FAFSA for up to 18 semesters…. now you can only use FAFSA for up to 12 semesters…… even if you only took 1 course in a semester….. so, even though those credits don’t count toward your degree, those semesters where you used FAFSA count into your total

2) There is no different amount for mom of 2 vs single student as it relates to total allowed student loans

3) as it relates to Pell Grant, it depends….. my bf made less than 9k in 2009 & because of this, he did not qualify for full Pell Grant (and with that he also did not qualify for FSEOG or any state grants)

If you are going to attend community college… you might be able to sqeeze by (if your rent & utilities along with car expenses are less than $ 400 per month total)….. otherwise, you will still have to maintain a job

I know 4 people who work full-time jobs & go to school full-time… one even does heavy-load school

another is a single mom, works a 50 hour per week job, and also is in school full-time to get her master’s degree — needless to say very little sleep & no social life, but she makes it happen

BUSiness Grants And Loan For Minority title=

Loans And Grants For Single Mothers
I’m a single mom and I’m having a hard time financially. I live in CO and have no family and very few friends around. I’ve never once been on welfare and I am in my junior year of college and have been working consistently for the last 8 years. My student loans are piling up, I’m almost done with my Bachelor’s degree and want to pursue a degree in law. We live in a small apartment and my daughter always talks about living in a house and getting a dog. It makes me really sad because I know that is a long way off.

I’ve seen TV programs with celebrities who donate money for houses to single moms who demonstrate the ability to be responsible and maintain the investment. Where would I start looking for these types of programs?

Free Government Loans And Grants
Responses associated with Free Government Loans And Grants challenges

Answered by faeriegals
I’m not sure where your loans are coming from but when I was in school I applied for grants through FAFSA. Also when I was younger and my mom was a single mom going to school she applied for a Habitat for Humanity house and was chosen for one. You can check out www.fafsa.ed.gov and also www.habitatcolorado.org. My mom still has her Habitat house in Boulder, CO.
Answered by imisidro
One of the best lessons you can teach your child is to learn how to live within your means. Dreaming is good, but reality makes it hard right now to get the dream you want. Tell her the value of hard work – that you may not get the house now but if as long as you work hard, you can achieve your dream

I suggest checking non profits such as Habitat for Humanity for assistance in getting a home. I understand you have to provide sweat equity, but that’s a small price to pay to get the home of your dreams

Also check Nehemiah Corp, a non profit that offers downpayment assistance to qualified borrowers http://www.getdownpayment.com/ – they may be able to help you

The Housing and Urban Development in their Grants Available page makes it clear that they do not provide grants to individuals — hence no grants for a person to buy a home http://www.hud.gov/grants/index.cfm

“While HUD does not offer direct grants or loans to individuals, we do work through local governments and non-profit organizations to make financial assistance and counseling available.”

BUSiness Grants And Loan For Minority title=

Loans And Grants For Single Mothers
My sister is a single mother on welfare and has been denied loans because she defaulted on loans after getting into a car accident. Are there any trustworthy foundation that give college grants to people in that situation?

Grants And Loans For Single Mothers
Right answers regarding Grants And Loans For Single Mothers factors

Answered by visvardis
call the financial aid dept. of any community college they will tell you whats available
Answered by Whitney
She should be able to get grants providing she doesn’t make too much. It differs state to state so she’ll need to contact her financial aid office at her college.
Answered by internetfanatic2002
unfortunately once you have a student loan go into default, the chances are almost nil that you can even get a pell grant. the govt. is pretty strict with that. Most foundations will not give private grants to people if they are not eligible for pell due to defaulting on a loan. you could go to fast.com or scholarship.com and see what’s available but more than likely she’s out of luck. Colleges tell you over and over again do NOT default on a student loan no matter what and I understand she was in an accident but she should have contacted them and had it deferred..there are at least 5 different methods of deferrment..she could have deferred payments for up to 4 years with no payment at all.. once it hits default. the govt doesn’t much care. funds are limited and they will give the money to someone else who is much more likely to profit “in their eyes’.

BUSiness Grants And Loan For Minority title=

Filed Under: Loans and Grants · Tagged: , , , , , , ,
« Older Posts
This site employs the Ravatars plugin.