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Can a Student Loan Be Eligible For the Loan Modification Program of the Government Young professionals are mostly still paying off from their student loans . With the prevailing economic situation of the country, it's not surprising for them to seek ways to stall the payment period longer. The idea of loan modification might come to their mind too. However, the question is, is a student loan eligible for loan modification?The answer is a big no! A student loan cannot apply for a loan modification. However, the department of education has considered also that certain hardships are apparent reasons for difficulty of loan payment . And there are several programs that might be invoked to avail certain degree student loan forgiveness.An extended repayment program may be availed if student loan balance, a principal amount plus interest exceeded $30,000. The payment period may be fixed or graduated, with 25 years as the maximum limit for such cases. This is in a way, availing a loan ...

Avoiding Default on Your Student Loan You may have been rolling right along, keeping your finances in good order, then financial catastrophe strikes. Suddenly you are having trouble meeting your student loan payments . Not an uncommon circumstance in these recessionary times. Take a breath. Nearly all student loan lenders offer ways to help you through your temporary cash-flow setback.Strategies to Avoid Defaulting on Your Student Loan If you are under financial duress and having difficulty with your student loan payments, the most common strategy is to approach the lender and request a deferment or a forbearance. Each has its advantages and each has its drawbacks. You need to know the difference before you settle on which route to take. The most important consideration is to realize when your debt has become overwhelming and immediately taking steps to prevent defaulting.Deferments and For bearances So, how do you go about getting a deferment or forbearance. They are two different ...

Alternative Student Loan - Do You Need Extra Money For College Are you trying to pay for college and you cannot get enough money from regular financial aid? Do you need extra money for tuition, books, fees, and living expenses? There are ways that you can get more student loan money with an alternative student loan if you know where to look. Here are some helpful tips for you.First, when you are looking at your budget and figuring out how much money you need for college you should always over exaggerate. This is important because if you just assume you will be fine on what you think you need, then how are you going to deal with an unexpected expense like a car repair or trip to the hospital. Second, with an alternative student loan you can get extra money to help you so that you do not have to work and you can concentrate on your studies. There are various types of alternative student loans out there for you and all you really need to do is talk to your financial aid office to find ...

Advantages and Disadvantages of Student Loan Consolidation Are you currently facing problems on how to pay the various student loans you have incurred while still in college?As fresh graduates, it is not surprising that you are currently in this predicament because of the various financial obligations you have taken upon yourself while earning a higher form of education. A college education is quite expensive these days and the only way for one to cope is to take advantage of the different student loans available. The two types of federal student loans are the subsidized and the non-subsidized loan . Other than this, students can also take advantage of private loans offered by banks and other private lending institutions. If you have taken several loans the whole time you were in college, it is inevitable by the time you finish school you will be deep in student debts . This is the reason why some people would advise you to consolidate your loans as a solution to your problems....

6 Keys to Minimizing Student Loan Debt If you're a senior in high school who's planning for college but you haven't yet picked your school, you're in the sweet spot.The decisions you make in the coming months will define your life in more ways than you can imagine. Your choice of college and major could allow you to enjoy life after graduation relatively unburdened by debt from student loans , or you could end up saddled with a financial burden that could interfere with you being able to buy a car, qualify for a credit card , rent or own a home, or in some cases, even get a job. In other words, now is a great time to pay attention!Few decisions are more important right now than where you go to college and what you study. These two decisions will largely control how much your education will cost.Cost, more than any other single factor, will determine how much student loan debt you'll be carrying when you leave school and how much financial stress you could be facin...

5 Reasons To Get A Student Loan I would like to present my top five reasons for getting a student loan , based on my own experiences at university and in business.Have The Perfect Student Way of Life. University is often the greatest. It is the first time you get to move out. The first time you get to live with people your own age. It has the potential to be the best time of your life. You can't just expect people to give you everything for free now. You need the financial security to be able to have a great time. University can be boring if you're stuck at home all the time because you don't have enough money. Private student loans can help you remove the financial scarcity and help you have the most enjoyable time.Get The Top Quality Things. Course material is often very pricey. Equipment doesn't come cheap. Investing in the fees is wasted without proper equipment. Federal and government loans can cover some of these expenses but there will usually be a limit to p...