how do you get money for school if you defaulted on a loan?
478547
You will not be able to borrow any Federal Student Aid (including Pell and SEO Grants) until you resolve your default. A loan default will show up on your FAFSA and preclude you from obtaining both grant aid and self-help aid (loans, work-study)... Your Financial Aid Administrator may deny you insitutional scholarship as well. Even if you didn't need money for school, you should still resolve your default -- if only for the sake of your credit report and its effect on your ability to obtain a car loan, home loan, credit card, etc. \n\nIf you end up getting a job while you are in default, the Department of Education has the right to garnish your wages, using them to pay off the defaulted loan. It *does* happen; they can take your tax refund, too.\n\nYou will need to resolve your default before you can obtain Fnancial Aid. Typically, this means making 6 on-time payments (NOT just one big one); after that, you will again be eligible for Federal Aid and you will be much better off credit-wise. \n\nIf you choose not to resolve your default: there *may* be private loan companies that will still give you a loan. You can do simple internet searches for private education loans, but to make sure that the company you choose is legitimate, check with your college Financial Aid administrator. If you *must* go this route, it is in your best interest to pay attention to interest rates and repayment terms (remember: your loan default affects your credit which in turn affects the rate that you receive on your private loan). Many companies will not want to lend to someone who has defaulted.  But if you start making payments now, you just might be able to resolve your default in time for September disbursements.
726841
Ask your family. Or go to a bank. I am afraid a "promise" is not enough. And I think you won't find anyone here who's going to "lend" you that money. \nThere are so many "professional students" doing this...they aren't going to school, they are drop outs...ask many people for money...\nSo a lot of people on the internet already had bad experiences.\nIf you really are a honest person ( and who says you aren't ), then ask your family.\nGood luck.
431502
Usually you receive your student loan payment as a check and if it goes beyond what you owe school, you can use the remaining amount for those expenses.  I believe the amount goes directly to your school and the school will give you the balance.  Somehow when I was in school I used student loan money for expenses.  Its perfectly accepable...just remember you have to pay it back so don't go crazy otherwise it will linger over you for the next 15 years if you don't get a great paying job that you can pay it off quickly.
443970
That depends partly on what types kinds of aid you have and what dates your school has set as their "payment period" (for example, September 1st through December 15th, or whatever dates they choose -- usually these dates are close to the first and last days of classes)\n\nSchools can disburse Federal Stafford Loans as early as 10 days before the start of their payment period.  However, some schools will disburse the money to your student account early but then take a few days before they can cut everyone's checks. Other schools don't allow any money to enter the student's hands until classes have begun or until after the add/drop period.  This is generally done for security reasons -- they don't want students enrolling for a week, taking Federal funds, withdrawing, and disappearing with money they haven't earned.  \n\nIf a school has a default rate higher than 10%, it must wait for 30 days before it can disburse funds for a first-time, first-year borrower (e.g. Freshmen who have never had loans before).  You can look up your school's default rate here: http://www.ed.gov/offices/OSFAP/defaultmanagement/index.html\n\nSome types of aid takes longer to disburse.  State aid, for example, can take several weeks, and Pell grant funds take a little longer because the school must confirm eligibility criteria before disbursing it.\n\nYour school is required to notify you before crediting Stafford or Perkins Loan funds to your account, so you should be given some heads-up as to when your refund will be available.  Just ask your school's Financial Aid Office or Business/Bursar's Office for a timeline -- trust me, they get this question a lot!
1059809
if you are looking to get money for school..try talking to the financial director at that particular school.  They should be able to help you with any type of federal aid that you qualify for..and at a better rate than you can get from any bank.  Plus you don't have to start paying on it til after you graduate.  But, if you are looking to build up your credit, visit your local loan officer, and try taking out some small loans..like $2000 or so, and make sure you always pay on time!!
931307
Depends on where you got the loan. I had to go to my lenders website and do it..then they notified the school it was done.
1141058
Try this:\n\nPrivate people lending money for just about anything.  They bid the rates down and your rate is based on your story and your ability to pay back.\n\nOf course if it is for school, why not a student loan?
203087
If it went into default because you haven't been paying then there is nothing you can do. If the school shut down after you paid (usually within the same semester or year that you borrowed the money) you will not owe that money and you should contact the place you borrowed from and FAFSA people to see what can be done. Also, if you borrowed that money and were able to continue your studies and now the school is closed you still owe the money.So basically unless your schooling was interupted due to the closing and you weren't able to continue the studies you had already put money towards then you still owe it.
951718
You can talk with your university about getting a computer loan. I had several friends that got their computers this way and didn't have to pay back the loan until they graduated.
787611
Money to pay my school tuition.  I really don't want to fall to student loans.  I got disqualified for student grants because I make higher than the requirement income amount (b/c currently I'm working full-time).  Yet, I'm going to a university next fall and it's going to be $5000+, and I didn't want to work full-time so I can focus school full-time so I can finish up and graduate.  It's taking me 10 years to graduate because I've been on my own and working fulltime.
375167
set up a meeting with the advisors in the financial aid office of your school. you will have to declare emancipation from your parents. that means they will not be able to declare you for income tax purposes in the future but you will qualify for far more aid than you would under their income. \ni'm pretty sure that load in default will continue to haunt you anyway. you need to notify that loan company that you are still attending classes so they can defer the loan while you are still studying. don't stop until you get someone to listen to your story.
280934
If u have a school in mind, contact the LEA (local education athority)for where the school is - They helped me to get student loans (which you only back when u can afford it and it is interest free) and financial aid.
1119277
You are in a default status because you failed to make payments on your loans.  This is never a good place to be: to get their money back, the loan holder can (and will)\n\n* garnish your wages\n* demand payment of the entire principal balance up front\n* withhold your tax return\n\nand so on...  The default will also stay on your credit report for 7 years *after* you resolve it.  So, essentially, to get out of default, you need to make regular, on-time payments on all of your loans.  \n\nYour first step should always be to contact the holder of your loans.  This may be a lender (a bank, like Citizens or Bank of America) or a servicer (like Sallie Mae).  If your loans have been sent to collections, you will probably need to call the collections agency.  Simply put, make the call to whatever company has been sending you those angry (I assume) letters.\n\nYour loan holder will be able to help you (a) get your loan out of default and (b) arrange a payment plan that suits your needs so that you can stay out of default.\n\nWhenever possible, see if you can "rehabilitate" your loan.  This generally entails making a certain number (usually 6-9) on-time payments, after which you will again be eligible to borrow federal loans AND clear up your adverse credit.\n\nif you don't know who your loan holder is, go to www.nslds.ed.gov to look up your federal student loan history.
798183
You need to go to http://www.loanconsolidation.ed.gov/\nYou can consolidate the loans you defaulted on, and after you do that you will be eligible for aid again.  You can even take out new student loans.  The process takes several weeks, so you need to get started asap.  I promise you this is the truth, I had to help a friend do the same thing.  Good luck!
236004
did u fill out your fasfa and they didn't even give you a loan option? have you talked about it with your school? I would first ask my school and listen to what they have to say because they typicaly know all the answers to that. I would also try for scholarships which can be found in great numbers at Fast web. hopefully this is somewhat helpful
265264
There are a few approaches you can take:\n1) File for Bankruptcy - The Court will determine how much you have to pay back and work out a schedule. Where I live it is usually about 20% of the total amount. You don't need a lawyer just go to the Bankruptcy office, fill out a form, and pay a filing fee. Their office will take it from there. The bad news is that even if you pay it back it maybe years before you can get another loan.\n\n2) Go to an accredited Credit counselor who will work out a greatly reduced payment schedule for you for a small fee.\n\n3) Contact you state or county BAR association for a recommendation of a lawyer for you who will work pro bono (for free) or at a reduced rate.\n\nGood luck.
1161408
Your loan agency (the government, or a private institution) will distribute the money to your college, usually about 4 weeks after your semester has begun (for a full length semester).\n\nThe school will then use the money to pay off any outstanding debts you have (for classes, for registration, for tech fees, etc.).\n\nMoney that is left over, will be given to you in the form of a check, about 2 weeks after that. \n\nYou then have the option of either returning it to your loan agency (so you won't owe more later, and so you don't reach your loan limit before you have finished your degree)...\nOr cashing it and sending part of the money back to the loan agency (same reasons as above, plus building up a good line of credit, showing you pay your debts)...\nOr cashing it and either spending or saving it.\n\nI suggest using what you need for books, then sending the rest back to the loan agency, or depositing it into a bank account that will give you interest. Keep this money separate from the rest of your spending cash or it will soon dissapear, and remember, you always pay interest so you always end up having to pay back more than you borrowed (which is why I returned the checks, uncashed, to the government, my first two semesters in college).\n\nBy the time you get to your last 1.5 years, try saving all the money...because 6 months after graduation, you have to start making large payments to the loan agency, and if you don't have a good job, you won't have the money on hand...so save their money and pay them back with it!