Help for Student Loan Borrowers

The National Consumer Law Center and the Project on Student Debt have launched a joint project to help borrowers who get behind on their student loans.  The focus of the project is Student Loan Borrower Assistance, a comprehensive web-based resource that includes information on repayment options, avoiding and getting out of default, dealing with collections agencies, and lots more. A press release describes the project in more detail. 

Comments

[deepak student loans]

Another advantage student loan has over other loans is that the rates and terms are much more lenient. First of all, the interest rates for student mortgages are variable, much lower than other loans and at this moment there is a cap on the maximum interest you will pay. Secondly, depending on the repayment plan you choose, you can also take as much as 30 years to pay back your loans. Additionally, if your financial situation takes a nose-dive, you may also be eligible to defer repayment on your student mortgages up to three years and depending on what you do after school, some of the loan may be forgiven.

[dawn]

trouble is the people holding the loans have no reason to be reasonable.

Call and beg "please the amount of the original loan has grown by over 300%, can we not come to an understanding? How about only 100% and stop adding interest?"

And you get "no" . . .NO! NO! it is not their money. . .it was no ones money the $40,000 they have added on existed no where but as interest and fees on the principle. Just numbers on paper. No one ever lent out that money. . .it did nothing. . .but now it is killing me. KILLING ME!

People say "just pay you slacker" but what I am paying is not the loan amount but interest on interest. I want to pay it back. . .but practically all the money I will pay will never make the mountain smaller. So I take food out of my kids mouths to pay the monster that will never stop eating.

But it makes me so happy to know that the loan companies are getting a bailout. . .it is so nice the government cares so much for its citizens. It gives one a warm feeling inside. . .maybe they can bail out the oil companies next. . .I am sure all those record profits are hurting them.

we all need to start asking ourselves whose government is it, ours or BankAmerican/Exxon/PepsiCo?

[dawn]

trouble is the people holding the loans have no reason to be reasonable.

Call and beg "please the amount of the original loan has grown by over 300%, can we not come to an understanding? How about only 100% and stop adding interest?"

And you get "no" . . .NO! NO! it is not their money. . .it was no ones money the $40,000 they have added on existed no where but as interest and fees on the principle. Just numbers on paper. No one ever lent out that money. . .it did nothing. . .but now it is killing me. KILLING ME!

People say "just pay you slacker" but what I am paying is not the loan amount but interest on interest. I want to pay it back. . .but practically all the money I will pay will never make the mountain smaller. So I take food out of my kids mouths to pay the monster that will never stop eating.

But it makes me so happy to know that the loan companies are getting a bailout. . .it is so nice the government cares so much for its citizens. It gives one a warm feeling inside. . .maybe they can bail out the oil companies next. . .I am sure all those record profits are hurting them.

we all need to start asking ourselves whose government is it, ours or BankAmerican/Exxon/PepsiCo?

[Student Loans]

Hi Very good blog - thanks for the info David

[secured loans]

There are too many companies that are offering student loan but who is telling the truth and who gives the best offer. I wish there will be a comparison about them.