Quote:Nope but I'm in the process of paying a boat load of money to them for my wife's student loans prior to our marriage.


Name me any other type of loan that gives you options like the forbearance, deferment, income based repayments, extended terms up to 25 years, fixed terms to reduce interest, graduated payments that's off the top of my head, as long as your paying you can't name a more generous term on loans, it's not welfare it's a loan.


Now if you want someone to burn at the stake id point you in the direction of the institutions. The average loan balance is far greater then the average cost of a degree, these kids are spending the loan money on costs of living instead of living on less.


Now if you want to just subsidize college education that's a different topic but the loan companies I laugh if only my mortgage was so flexible!

 

Im pretty sure any company who provides federal and private education loans like the Sallies, and Nelnets of the world along with any financial institution who provides student loans generally have flexible terms at the beginning. The difference comes into play is regarding how much a company will loan which is what makes the Federal student loan business more promising because they can take on a bigger risk knowing they will  certainly get their loan back through collections, repayment plus accrued interest. 

 

Filed for bankruptcy? Dosent matter, most federal loans are not absolved. After you pay your loan off can you call and negotiate a fair credit report? (ie requesting to remove late charges, penalties, collection attempts, etc) probably not. So they do more damage than good. 

 

Yeah like you said, they are flexible in the beginning, but you better not default on your loan. They will call your job and most certainty put your job standing in jeopardy as it seems you are accepting personal calls during company time. They dont care, one rep called asking for an associate and I informed her politely personal calls are not welcomed unless its an emergency. She stated she has a right to call even if it put the debtor's job at risk. 

 

It's funny because right after I graduated with my Bachelor's and paid off my loan, I kept receiving letters from all different student loan institutions about how I was eligible for all of these loans based off of my credit history blah blah blah if I continued my education. Each letter I receive I toss in the trash.

 

Scholly.com (no spam) Is a great way to look for multiple scholarships. 

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