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About 'where can you get a student loan'|... to a point where they are lazy...we do if one of us gets arrested What...still in college w/ student loans to pay. But sometimes...







About 'where can you get a student loan'|... to a point where they are lazy...we do if one of us gets arrested What...still in college w/ student loans to pay. But sometimes...








Millions               of               Americans               find               themselves               carrying               student               loans.

Some               students               graduated               and               carry               the               financial               debt               as               an               investment               in               their               education,               while               others               carry               student               loans               for               semesters               they               completed,               but               did               not               earn               the               degree.

Whatever               the               reason,               managing               student               loan               payments               can               be               difficult               for               former               students.

In               recent               surveys,               many               people               paying               back               student               loans               report               that               their               payment               exceeds               rent               or               mortgage               costs.

So               what               do               you               do               if               you               fall               on               hard               times?

Deferrment               is               possible,               as               is               forbearance;               both               are               ways               to               stop               your               required               loan               payment,               but               these               are               temporary               measures.

Student               loans,               unlike               other               forms               of               debt,               are               not               dischargable               during               bankruptcy.

This               means               that               even               if               you               filed               bankruptcy,               you               are               still               responsible               for               the               loan               payments,               no               matter               what               your               circumstances.
               Thare               are               ways               to               get               part               or               all               of               your               student               loans               discharged,               or               taken               off               your               record.

These               are               legal               methods,               and               many               people               do               not               know               the               various               ways               that               the               government               legally               allows               you               to               get               rid               of               student               loan               debt.
               1.

If               you               are               declared               100%               disabled               or               die,               you               or               your               heirs               do               not               need               to               repay               student               loans.

This               is               important--if               you               were               to               die               suddenly,               does               your               family               know               that               they               do               NOT               have               to               repay               your               loans?

Make               sure               they               know               this.

If               you               are               in               an               accident               or               become               ill               with               a               long-term               chronic               illness               that               makes               it               impossible               for               you               to               work,               you               can               apply               to               have               your               student               loans               discharged               as               well.

You               credit               will               not               be               harmed               by               a               disability               discharge.
               2.

If               the               school               you               attend               closes               before               you               can               complete               your               program,               you               are               not               responsible               for               your               student               loans,               and               do               not               need               to               repay               them.

The               loans               are               cancelled               in               full,               and               your               credit               report               is               not               harmed               by               this.
               3.

You               can               join               the               Peace               Corps,               VISTA,               or               teach               for               five               or               ore               years               in               a               designated               low-income               school,               and               get               up               to               $5,000               for               teaching.

The               Peace               Corps               and               VISTA               give               you               15%               of               your               loans               EACH               YEAR               you               are               part               of               their               programs;               while               the               pay               is               low               for               these               programs,               the               15%               off               your               student               loans               goes               directly               to               the               loan               agency,               and               you               have               peace               of               mind               knowing               that               part               of               your               loans               are               repaid.
               4.

A               hardship               hearing.

If               you               declare               bankruptcy,               student               loan               debt               is               not               discharged.

However,               you               can               request               a               special               "hardship               hearing"               where               you               present               your               case               to               a               special               judge,               explaining               why               repaying               the               loans               would               be               an               undue               hardship.

Only               a               very               small               percentage               of               people               successfully               discharge               their               loans;               talk               to               a               bankruptcy               lawyer               for               more               information               on               this               option.
               5.

"False               certification."               If               you               can               prove               that               a               school               misled               you               into               thinking               that               you               would               benefit               from               their               program,               and               the               loans               or               debt               you               took               out               was               a               result               of               such               promises,               under               certain               guidelines               your               loans               can               be               discharged.
               One               important               note:               the               worst               thing               you               can               do               is               to               default               on               your               college               debt,               and               go               into               delinquency.

If               you               do               not               make               payments               for               240               days,               your               entire               balance               is               due.

If               you               go               270               days,               your               account               is               considered               to               be               in               default.

This               means               you               lose               all               future               federal               financial               aid.

The               government               can               act               legally               against               you,               and               you               can               lose               your               income               tax               refunds--the               money               is               put               toward               your               student               loans               owed.

Default               and               delinquency               are               very               serious,               and               can               hurt               your               credit               record               for               ten               or               more               years.
               To               learn               more               about               these               options,               go               to:               http://studentaid.ed.gov/students/publications/repaying_loans/2003_2004/english/loan-discharge-cancellation.htm






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