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How can you obtain a student credit card?
While there are student credit cards, new Federal laws impose restrictions on issuing credit cards to individuals under 21 unless the applicant has the independent ability to repay debt, or has an adult co-signer who agrees to accept joint liability for the account.
What payment method typically charges the highest interest rates A Credit cards B Cashier's checks C Prepaid cards D Payday loans?
Payday loans... the borrower is expected to repay the whole debt before their next pay-day.
What happens to a person who does not repay student loans?
Federal student loans have no statute of limitation, meaning they can collect forever. The can garnish your wages without taking you to court, take your tax refund, and sue you in court for property and bank accounts. Student loans are also almost impossible to discharge in bankruptcy. There are people now who did not repay their student loans from the 1970s who are having their social security garnished. Not paying is a very bad idea.
Does congress get intersts free loans?
An email presently in circulation states that dependents of members of congress do not have to repay student loans. Is this true?
Is there a standard length of time to repay student loans?
10 years. However, students with large loans can get longer repayment terms.
Do student loans automatically come with filing bankruptcy?
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
How can you obtain a student credit card?
While there are student credit cards, new Federal laws impose restrictions on issuing credit cards to individuals under 21 unless the applicant has the independent ability to repay debt, or has an adult co-signer who agrees to accept joint liability for the account.
What payment method typically charges the highest interest rates A Credit cards B Cashier's checks C Prepaid cards D Payday loans?
Payday loans... the borrower is expected to repay the whole debt before their next pay-day.
What happens to a person who does not repay student loans?
Federal student loans have no statute of limitation, meaning they can collect forever. The can garnish your wages without taking you to court, take your tax refund, and sue you in court for property and bank accounts. Student loans are also almost impossible to discharge in bankruptcy. There are people now who did not repay their student loans from the 1970s who are having their social security garnished. Not paying is a very bad idea.
Does congress get intersts free loans?
An email presently in circulation states that dependents of members of congress do not have to repay student loans. Is this true?
Is there a standard length of time to repay student loans?
10 years. However, students with large loans can get longer repayment terms.
Can co signing a car loan affect your chance to get a student loan?
Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your debt (including debts you cosigned on) are a factor that would be considered by most lenders in making a credit decision. Your potential lender may ask themself: "If this person had to repay the loan they cosigned on, and all the other debts on their credit report, plus the loan they are asking us to approve, could we expect them to repay based on what we know about their income and credit history?"
Can co-signing a car loan affect your chance to get a student loan?
Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your debt (including debts you cosigned on) are a factor that would be considered by most lenders in making a credit decision. Your potential lender may ask themself: "If this person had to repay the loan they cosigned on, and all the other debts on their credit report, plus the loan they are asking us to approve, could we expect them to repay based on what we know about their income and credit history?"
Do you have to repay a federal student loan?
Everyone has to repay the federal student loans. However some people are eligible, dependent on the job that they get after graduation, to have loan forgiveness for a portion of their loan. In that case they will only have to repay the portion of the loan that is not forgiven.
Are secured loans not credit cards looked at any differently than unsecured loans when applying for a mortgage?
Because secured loans are loans that are secured on your property, they are looked at totally differently when applying for a mortgage, in most cases the mortgage lender will probably want you to repay the secured loan before approving your mortgage
Why credit score is important?
Your credit score is one aspect of your credit worthiness that is used to determine your qualification for credit (credit cards, loans, advances). In addition to establishing your general ability and willingness to repay credit, it can determine the terms of that credit (interest rates, periods, points). The score is widely seen by credit and capital providers as the "grading" of your suitability for credit.
Do student loans show up on your credit report?
yes, the private or federally guaranteed student loans will show up on your credit report. If you are delinquent or in default on your loans, you can get help with consolidating the loans at www.defaultms.com The loans will show up on your credit report, even if they are still designated as deferred. You will not owe anything until roughly 6 months after you graduate, and the loan status will change to active once repayment begins.
