Comments on: Globetrotter Fan “Loans” Her Purse

By: bbrrpf

bbrrpf — Tue, 02 Feb 2010 16:13:35 +0000

You know what my answer to this problem is? I am joining the Marine Corps. I'm gonna be programming. There are plenty of different jobs in the Corps other than just killing ppl. So if I were you I'd go to marines.com and search for your nearest recruiter to see what they could do for you. What do you have to lose by talking to a recruiter. Nothing.

By: Swedoman

Swedoman — Tue, 02 Feb 2010 03:19:38 +0000

Dont you, you dont have any friends.XD

By: mynabala

mynabala — Mon, 01 Feb 2010 19:35:58 +0000

Hahaha! Yea, I’m serious! =-) He’s a great guy and I can’t remeber his name… but me and My brother kept thinking he was one of the guys in this vid! =-)

By: The270Weatherby

The270Weatherby — Mon, 01 Feb 2010 00:49:59 +0000

yea lol

By: iLOVEidek20

iLOVEidek20 — Sun, 31 Jan 2010 23:42:06 +0000

omg are u serious!!! maii favoruite is scooter christensen

By: belinda

belinda — Sun, 31 Jan 2010 23:16:16 +0000

if you are looking for the best and fastest loan website, check out this site

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By: amandaop999

amandaop999 — Sun, 31 Jan 2010 23:10:02 +0000

@TMET9 me and meh freind are about to go to it lol

By: mynabala

mynabala — Sun, 31 Jan 2010 20:35:00 +0000

Hey.. One of my friends dad is On the harlem Globetrotters Team.!! =O

By: Dat_1_Chiq

Dat_1_Chiq — Sun, 31 Jan 2010 18:55:14 +0000

When your federal educational loans are in default, you have several options:

You can repay the loan in full.
You can negotiate a new payment plan with your lender.
You can "rehabilitate" your loan.
You can consolidate your loan.

Obviously option one is rarely attractive or possible for defaulted borrowers.

Option two (renegotiate) should be investigated fully – most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your repayment plan, a few regular payments will get your default status removed, and the new plan may be easier for you to keep up with.

Option three (rehabilitation) is really a specific form of a workout agreement. It probably won't help you much in your situation, because it requires an agreement between you and the lender that will allow you to make 9 consecutive on-time payments of some agreed-upon amount.

Option four is everyone's favorite, but you must absolutely understand what a consolidation loan will do. To keep this utterly simple – a consolidation loan is a brand new loan that will pay off your old, defaulted loan. A consolidation loan MAY lower your monthly payments, but understand how this works. A consolidation loan never lowers your payments by wiping away some of your debt – a consolidation loan lowers your payments by stretching out the length of your loan. If you pay less every month, you'll make many additional monthly payments, and – in the end – you'll pay far more back than you would have paid on the original loan.

As an example: Suppose I lent you $100 and you agreed to pay me back in 2 weeks by paying me $50 a week. You came back a few days later and explained that you weren't going to be able to afford to pay me $50 – is there something else we could do? "Oh, absolutely," I'd say, gallantly. "Instead of paying me $50 a week for 2 weeks, how about if you only pay me $10 a week for 17 weeks?"

See – in the end, you'll pay me back $170 instead of $100 – that's how a consolidation loan works. But remember – we're not talking a $100 loan for a couple of weeks – by the time you pay that $5000 loan of yours back over many years, you'll pay a few thousand more than you might have paid if you didn't consolidate that loan.

I've attached some information about consolidating from the Department of Education – take a few minutes to read it over. If you do choose to go this route, be sure to consolidate with a reputable lender (or directly with the government) and not with some fly-by-night operation that you learn about from some pay-per-click site shilled on Yahoo! Answers.

Good luck to you!

By: tomiko

tomiko — Sun, 31 Jan 2010 13:08:08 +0000

With 20 years experience in the mortgage business, I have never seen a student loan that was in repayment treated any differently than any other long term debt. While you may be able to ask for a hardship deferal in the future, which is the only advantage on a student loan that doesn't exist on a standard installment loan, no lender wants to anticipate that circumstance. As long as the payments extend past 10 months in the future, the lender will only use your monthly payment as part of your qualifying ratios. The total debt is not that important and would only be a minor factor. What will matter more is your payment history on the student loan: it should be perfect. It all comes down to the quality of your credit history (your FICO score) and your qualifying ratios of debt/income.

Try this site

http://free-college-information-usa.blogspot.com/

Free College information on financial aid for students, scholarship, student loans and more.