Archive for the ‘ Student Loans ’ Category

student loans8 What happens to the status of student loans if I transfer undergraduate schools?
Alex asked:


I just transferred undergraduate schools and still have some student loans from my previous school (Sallie Mae and Federal Direct loans). Is there some sort of clearing house that my new enrollment status will be sent to so that the loan agencies know that I haven’t just stopped going to school (and thus cause my loan payments to become due)? Or must I obtain enrollment verification from my current school and send it to each loan agency myself?

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student loans14 How do they process your student loans when you almost at your borrowing limit?
Southerngirl29 asked:


I have around $4500.00 left in student loans, and I have two semester left of college. In the fall, I am taking 15 hours, but in the spring I am only taking six. Will they offer the remaining of my loans for the fall semester, and I can use my pell grant for the spring or will they split the remaining loans between the two semesters?

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student loans4 How do student loans work? Once I start paying them back, do I have to pay back consistently?
Tesoro asked:


Like if I have $1000 now gathered from working as a student for 2 years, can I use that to pay some of the loan back? Or, is it that once I start paying back loans, I can’t stop, and I must consistently pay them back every month?

Also, do student loans have minimum sums we are allowed to pay every month? Like can it be that i’m only allowed to pay if i’m paying in a minimum sum of $800 or $1000?

P.S. this is not for me, so its not like I can look over a contract or anything like that.

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