Government backed student loans company slc

 

government backed student loans company slc

I am a 63-year-old grandmother who has been working for years, under considerable difficulties including raising 10 children, to obtain a Ph.D. in clinical psychology. My goal was to spend the rest of my inherited long life, after my children were grown, in useful public service.

Now all I have left to do is finish my dissertation--and it looks as if the government will prevent me from ever getting the degree and ruin me financially besides.

My guaranteed student loan lender, the Knights of Columbus, after granting me a deferment, took it back and arbitrarily, over my protests, declared me in default and got the government to pay them back.

Government backed student loans company slc

Guaranteed student loans sound ideal for most young people preparing to head off into the wide world of higher education. Instead of fretting about rejection, due to prior credit troubles or difficulties with cosigners, they can simply sign up for a guaranteed student loan and get the money they need, no questions asked.

While there are companies that are willing to provide guaranteed college loans, those private loans can come with some pretty big drawbacks , and sometimes, the price a student has to pay is a little too steep. Thankfully, there are other options available for students who need this kind of funding.

Loans that originate with the U.S. Department of Education are often considered the safest , most affordable form of guaranteed student loan available in the marketplace today. These loans come with a variety of protections, including:

I am a 63-year-old grandmother who has been working for years, under considerable difficulties including raising 10 children, to obtain a Ph.D. in clinical psychology. My goal was to spend the rest of my inherited long life, after my children were grown, in useful public service.

Now all I have left to do is finish my dissertation--and it looks as if the government will prevent me from ever getting the degree and ruin me financially besides.

My guaranteed student loan lender, the Knights of Columbus, after granting me a deferment, took it back and arbitrarily, over my protests, declared me in default and got the government to pay them back.

A government-backed loan is a loan subsidized by the government, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates. Its primary aim is to make home ownership affordable to lower income households and first-time buyers .

There are numerous types of government-backed loans, which vary dependent on the country and status of the borrower. Arguably, the most widely known type of government-backed loan is the US Federal Housing Administration FHA loan , in existence since 1934.

Why is the price of college going through the roof? They could be rising due to increased costs. Or they could be rising because that is what the market will bear .

Mark Cuban proposed this recently, and I think he’s right. The government keeps throwing more money to students. Awash with cash, those students then go to school and spend it. With plenty of eligible students, the schools simply raise rates, the government loans more, and the cycle repeats. Shall we stop the madness? Stop giving out massive government student loans and this problem could evaporate entirely.

Crazy ? Maybe, maybe not. What happened to the price of homes when the mortgage loan bubble popped ? They plummeted. If the size of student loans are capped at a low level, you know what will happen to the price of going to a college or university ? It will plummet. Colleges and universities will have to completely rethink what they are, what purpose they serve and who their customers will be. Will some go out of business ? Absolutely. That is real world. Will the quality of education suffer ? Given that TAs will still work for cheap, I doubt it.