Private student loans

They can tag your income tax refund.?? Which pretty much means that you won't get a tax refund until the debt is paid.?? I went down that road.?? Believe me, you're better off trying to work out a payment plan with them.?? They're pretty good about working with you.??
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I hope that helps.
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No, they cannot seize your tax return for private or alternative loans..that is an option for federally insured loans only.

Privates are much more difficult to work with than federal loans.?? The do actively sue and will garnish wages and bank accounts. They do settle but by no means near what other consumer credit settles for....you are looking at maybe a 20% settlement and that is after they tack on collection fees.

I was just thinking the same thing about tax returns. I didn't think a private loan lender could collect your incomt tax. However, I know they can sue for the full amount owed.
Question:
Do students have the option to choose betwenn a private or federal loan? Or is this based upon their credit standing when applying for loans?

That's right guys!?? Thanks for the correction.?? Your right, only Federal loans can take your tax return.
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Students should fill out a FAFSA when apply for FA.?? The first line of loans are your federal loans and grants if you qualify.?? Everyone can get an unsubsidized federal loan.?? If this aid does not cover your tuition, private or alternative loans are the back up loans....these are credit based and carry a higher interest rate.?? From my experience as a financial aid officer, students dont bother to read the brochures or prom notes.?? I had students sit in my office and just sign applications without bothering to crack open the pamphlet.?? I would ask them questions about what they had just signed their life away for, not realizing that they had just applied for a 12% loan with little to no deferment.?? They just saw $$$ signs.?? However several did take the materials home and came back with lower dollar needs or would never apply at all...some would work or borrow from family.

Well when I attended college I received a federal loan form Direct Loans. I was able to get the loan deffered while I was in school and deployed. Interest was about 2% if even that and the payments were $50 monthly on a $4000 loan. I was really pleased with the federal loan system.

Is Sallie Mae a private loan lender?

Sallie Mae is both a private and FFELP (federal family educational loan program) lender.

Thanks again!