Government Debt Consolidation Loans – Update

Brad M asked:


http://video.foxnews.com/v/4121296/the-well-has-been-poisoned

According to Senator Graham: “Student’s pay more for loans and have less choices” under the federal takeover. Graham claims that students will spend $1700 to $1800 more on their loans since the Federal Government is taking over the student loan industry. The reason he explains, for this government takeover is to charge higher rates on student loans that will generate revenue to the government instead of the banks to help fund the new health care bill.

What do you think about this?

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cowboys fan asked:


It is not likely that I’ll be able to receive a stafford loan from the government but I will be in need of a student loan. I want to be able to attend a CUNY school, most likely Baruch, which is very affordable and I just was curious if anyone had any knowledge on this subject.

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weak asked:


what happens if you get a government loan for college, and don’t pay it back? I wonder, because I want to make sure I am not biting off more than I can chew.

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kamp1963 asked:


they took our tax return to apply it to my old student loan, we just filed an injured spouse form, how long does it take to get that return? one site i checked said 6 months?

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shannyn0424 asked:


I AM UNEMPLOYED AND MY HUSBAND IS EMPLOYED. I AM CURRENTLY IN DEFAULT ON MY STUDENT LOANS. CAN MY HUSBANDS TAX REFUND BE TAKEN EVEN THOUGH IT IS NOT HIS LOAN? I KNOW IF I HAD TAX REFUND BASED ON MY EMPLOYMENT IT WOULD BE SEIZED BUT I AM NOT SURE REGARDING HIS. THANKYOU.

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Angela W asked:


My husband just lost his job and I have to quit mine in September to begin a 28 month Nursing Anesthesia program. I need money well beyond the cost of attendance determined by my school, which is estimated at $28,000 per year for me. I have accepted $20,400 in Direct unsubsidized loans but need about $50,000 in aid to make it through each year. Alternative studend loans (other than government loans) are ALL based on my estimated cost of attendance. I’ve looked into personal loans but the loan terms are short and the payments are high. With the current economy, we have NO equity in our home. What are my options?

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