know if I really need it and if they will let me have it, what do I do?I kind oif need it cos where I work sometimes they pohone up the employees and say they dont need us to come in and we have to stay at home and cant make money on the shift, and it is just a loan and I would pay it back once my student loan came through, I dont know what to do I’m just so torn..
I mean it’s not like it is a free payment it’s a loan!
Skip the loan…. Go get a part-time and temporary job and earn that extra cash you need. Borrowing money is a really bad habit and leads to debts and aggravation in the future. Lots of jobs out there….yard work, running errands, caregiving, babysitting, shopping, car washing, et cetera….. Think about it.
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President Bush said Saturday that the credit crunch is threatening the availability of student loans. He said his administration is doing what it can to help with emergency loans but prodded Congress for authority to do more. (April 26)
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I'm graduating this June and I'm going to have about 30,000 canadian in student loans. I want to pay off my loans as quickly as I can even if it means sharing a room with someone. I'm planning to take at least 50% of my pay check to go into loans. So maybe around 900 a month, which allows me to pay off my loans in about 3 years. I'm normally a saver anyway and I can live cheaply. I would have just enough money left over for rent and living expenses. My rent would only be about 400 dollars. Plus, I have savings right now that would work as my emergency fund. Do you guys think that it's a good idea and is it worth it financially? My thought is that it would save me on interest even though it would be hard for a few years, but I will be much better off in the long run. Any suggestions?
Its always good to pay down debt
Good Luck!!!
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I am a current grad student who works full-time. I do not have a wife or kids, and live a relatively moderate lifestyle. I rent an apartment and have low car/student loan payments.
Should I still shoot to have a 3-6 month emergency fund or can I get by with less than that?
Your emergency fund all depends on what _emergency_ you want to be prepared for.
For most people, emergency could mean unexpected house repairs, medical bills, auto repair, and job loss. For you, it may be different. What are the items in your life that may experience catastrophic failures and what are the likelyhood of actaully happening? AND, if that happens, what are the likelyhood of quick recoverly? (like job loss)
AND, more importantly, what is your comfort zone?
I think you should have at least 3 months bug shoot for 6 months, but that's just MY opinion.
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Obtaining a college education and having to pay for it can often mean using a student loan. A lot of the people offering student loans are able to give good deals on interest rates and tax credits, as they are specifically tailored to aid willing students meet the not inconsiderable expense of a higher education.
As always, the first thing you must do prior to getting a student loan is do some research and have a look at the various types of loan available and who are offering them. These loans are offered by colleges, private lenders, or even the government. In fact a student loan from the government might be your best bet, as you can obtain a better interest rate.
Then there is the subsidized loan which is income based and very generously the government will pay the interest until such time as the student is in a position to repay the debt i.e., gets a job. Another type of loan is where the parents of the student can take out a loan; to meet their sibling’s college expenses, this one is called the Federal plus loan.
Next, there are bank loans, which as usual come with different interest rates, and various payment options. These institutions will probably require some sort of guarantee, which is usually in the form of collateral. These banks don’t like taking too many risks, can’t say I blame them. The college loan is the most expensive option and you should only really consider it in an absolute emergency.
At the end of the day, some sort of loan may be the only way for a student to successfully finance their education, but it must be remembered that just like any other type of loan, a student loan is a serious financial obligation, and has to be repaid at some point.
Personally, I think that governments in the relatively well off western countries can never offer too much help to anybody wanting to further their education, as it will benefit the respective country, and everybody in it, and in the long run, the world.
I have made some credit mistakes in the past, and have a mediocre credit score. Right now, I don't get approved for new lines of credit. However, I am in need of a student loan to cover living expenses for the remainder of this semester at a private university.
Does anyone out there have any suggestions for how to go about getting an "emergency" student loan in the middle of the academic semester? I appreciate any helpful advice or suggestions, thanks.
ask your mom