student laon

I think you should talk with the school regarding this. You can contact your collection agency and ask for a repayment plan and agree for one which you find most suitable for you. I think that consolidating your student's loan will help to repay your loans smoothly if you do not qualify for federal student loan forgiveness.

Under certain cases like if you perform volunteer work, military service, or teach or practice medicine in certain communities, the federal govt may forgive all or part of your educational loan. Now since your loan has already gone to collection account, the best way to come out of the situation is to go for students loan consolidation, repay the debt and start going to school again.

I am pretty sure that you will have to pay it off before they will even consider lending or granting you any more, but as advised above, check with your financial aid office, they will have a better idea of what to do and how to do it.

The student loan industry has been a topic of interest to the Congress in the recent session, and legislative changes as well as the sub-prime loan disaster are having an effect on the cost and availability of loans. Student loan securities dropped to an all-time low.
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Sally
Promoter

tony williams- yes. you are responsible for still repaying the loan. it was granted as a loan & must be repaid unless of course it is forgiven. but being on disability benefits does not make you "qualified" for loan forgiveness. However there are many options that DO make you qualified for loan forgiveness; some of which were listed above.

Hi mohammed,

You need to give more information on your credit. Can I know what is your credit score? You need to have a good credit score, at least above 700 to qualify for a loan.

Thanks,

Aaron