Student Loan
Date: Tue, 02/17/2009 - 09:28
Student Loan
This is my first time submitting and my first time in a forum, so all help is welcomed.
I electronically signed a fafsa loan for my daughter 3 years ago, at the time I thought I was just verifing my financial status so she could get a loan. Come to find out the loan is in my name. I have defaulted on the loan. I know these are excuses but...here are my circumstances.
I had just recently been divorced, very low child support for my youngest, and my yearly income was under 30,000. I was just able to make rent a car payment and food.
So here I am now, jobless, and semi-homeless, I would like to go to school but I can't get a student loan.
What would be my first step in correcting this problem?
Thank you for your help.
Sounds like you took out a PLUS loan....Parental Loan for Underg
Sounds like you took out a PLUS loan....Parental Loan for Undergraduate Students. In order to regain financial aid, you must either rehab this loan or consolidate it. Rehab requires 9 on time monthly payments.....takes roughly 10 months to complete. The other alternative is to consolidate which takes approximately 60 days. I always recommend the Direct Loan program...links are in the stickies at the top of the forum.
I mean to sound stupid; What do mean by Direct Loan Program is t
I mean to sound stupid; What do mean by Direct Loan Program is that the rehab or the consolidation? and what are stickies?
At the top of the student loan forum are stickies....important
At the top of the student loan forum are stickies....important topics and information pertaining to student loans.