Can I get back some of the tax refund money that was offset for student loans?

My husband and I filed married jointly. The IRS approved a refund but it was offset because of a student loan in state default. He was going to school and then in 2005 I miscarried and was in bad shape so he had to quit school and take care of me and our other child. We just found out the treasury department took all of our tax refund because of his defaulted loan. I didn't work last year because I was put on bed rest with this last preg. At least 2 months prior to filing taxes he had already made arrangements to make payments the collection agency for the student loan and they new that he would start making payments after getting our refund because could have paid off some other smaller bills and gotten caught up on rent, which would have freed up money to make monthly payment to them. They said nothing about a default.

Can I get any of the money back, I am not in default or anything? At least the child tax credit? We desperately needed that money. Is there any hope?

Can I get back some of the tax refund money that was offset for student loans?

Actually, YES, there is hope. It is under %26quot;Injured Spouse%26quot; clause. If you are under extreme financial hardship, you may be able to get SOME of your refund back. It is a difficult process (be prepared to send copies). Good luck to you.

Try this website:

http://www.ed.gov/offices/OSFAP/DCS/disp...

* 9 months ago

Fed Stafford Student Loans and Federal Reserve Interest Rate!?

The interest rate on Federal Stafford Student Loan has jumped from around 3% to 6.8% in summer of 2006. The federal reserve interest rate around th same period has been going up very rapidly up to that period. http://money.cnn.com/2005/09/20/news/eco...

I am just curious if the Stafford Loans interest jump had something to do with the performance of the U.S. economy. Now, with the current weak U.S. dollar, the Federal Reserve is likely to cut interest rates on September 18th (current rate is 5.25%). If the federal reserve keeps cutting the interest rate to prevent economic pain, can educational loans like Stafford Loans be cut-back?

Just wondering. :)

Fed Stafford Student Loans and Federal Reserve Interest Rate!?

Student loan interest rates can possibly change July 1 of every year. The loans that are at 6.8% however were taken out at fixed rates, so no, those will never change. And they didn't jump from 3 to 6%, they went from 5.14 to 7.22% on existing loans when you are in repayment.

It is based on the 91-Day Treasury Bill, so whatever it is that determines that rate is what determines the student loan rate. But no loans (no matter if the T-Bill rate goes down or not) will change interest rates before 7/1/08.

Fed Stafford Student Loans and Federal Reserve Interest Rate!?

Here is the Dept of Education publication on student loans. The interest rates for the different loans are printed on a chart in the back.

Student loans for living expenses?

Is it true there are student loans you don't have to repay until you're out of college for living expenses? I.e. Rent, groceries, going out etc.

Which banks provide them? How do they compare with Stafford loans?

Student loans for living expenses?

Yes, student loans will cover living expenses and you wouldn't have to pay them back until six months after you graduate. They are personal loans as opposed to a federal student loan. I have both federal and private student loans and I have found that both loans offer flexibility of payment options and as far as how i have been dealt with I haven't found any difference between the two loans. The big difference that I have found is that I was able to consolidate my federal loans into one loan with a fixed APR, and my private loans could not be consolidated with my federal loans and I have a variable APR with that loan.

Federal student loans will help you with living expenses as well. I knew several people that got help from federal loans to cover rental costs while they were in college.

A couple of banks that I know offer private student loans are Keybank and M%26amp;T bank. I'm sure most banks offer these loans though so look around at banks you are familiar with.

Student loans for living expenses?

You can find out through your financial aid office which banks provide private loans in your area. You can also go to sallie mae's website and apply on line for a private loan. The terms are not as favorable, and usually repayment is earlier (can't defer for as along, if at all), higher interest rates (based on credit score), and you may need a cosigner.

Student loans for living expenses?

student loans can be used for living expenses, however, I would not recommend it. Stafford loans that be giving by a private lender or the government accrue interest. The %26quot;affordable%26quot; loans are need-based loans. Need based loan don't accrue interest once the loan has been disbursed; the government will pay the interest while your in school. The unsubsidized loan and private loans accrue interest once the loan has been disburse, which makes the loan expensive. In additional, private loans alike the unsubsidized federal loan, but can have higher interest rates.

If you need a student loan to pay for your expenses, sit down and write down all of your expenses. Then figure out what you can live without. Maybe you may want to get a part time job on campus because it is convenient. Or use the loan to cover rent only for the semester or year. Good luck on your decision.

Student loans for living expenses?

Most loan companies now pay directly to your university or college to avoid that issue. Student loans generally have lower interest rates than regular loans, so more people would want to take out student loans. Now, if your tuition was $10,000, and a loan company offered to pay $7,500, but you had already saved $5,000 on your own, it would be the equivalent of the loan offering $2,500 for you to use as you please. There are some loan companies that would be willing to pay a little more than you need, because with interest rates over the length of the payoff period, the company knows it will receive more back then it gave out.

Student loans for living expenses?

Stafford Loans can pay for living expenses and they do not have to be repaid until after your grace period ends 6 months after your graduation. SImply apply for the maximum amount of Stafford loans and use the remainder left over after your tuition is paid for living expenses. If you are in a graduate program you can apply for Grad PLUS loans as well to cover any additional expenses you might have.

Student loans for living expenses?

Well, I am not an expert, but I have taken out Stafford loans before, and these loans are calculated to include tuition, books, and some living expenses. Typically, you will find that the loan amounts will exceed the cost of the tuition and books, leaving you with left over money to use at your discretion!

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disable

Is his or her blood, marriage, law- relation reponsible to pay the installment?

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disabled?

The debt normally dies with the borrower if he dies. However, if there is an estate that the student is leaving, the creditors could go after that. Generally, though, it is just written off by the creditors.

Disability is a different thing. The student is normally still legally responsible for the debt. There are usually conditions where the student can seek a temporary forbearance for illness or unemployment, but at some time, the debt will again become due. Of course, if the student is never able to recover or earn, there may be other options, but I don't believe there is ever a condition where other family members would become obligated, unless they co-signed the loan.

Co-signers on any of these loans would become fully obligated for the entire debt, regardless of circumstance.

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disabled?

No, the loan will be paid by a private institution.

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disabled?

Legally the debt is gone if he/she signed for the loans alone. If there was a cosigner then they would be obligated to pay. Even though it is gone that doesn't mean that they won't try to get a relative to claim the debt to be paid.

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disabled?

Unless the another party (co-maker or guarantor) signed the loan documents, thus making a guaranty to pay the loan if the main party couldn't, there is no obligation to pay.

My brother passed away last year and his school loans were forgiven.

Student borrowed sub or unsubsidized loan from bank, who must pay installment if h/she died, disabled?

Normally in the two situations. Contact the loan institution and tell them the person either Died or became disabled. They will probably send you some paperwork to fill out, I assume by a Doctor, and you return that information to them. Then they just Write off the loan.

Federal loans...private student loans?

ok so i've filled out my FAFSA, it's been processed, been accepted at my school, now im wondering...do i apply for private student loans first or federal loans? what's the order?

i need like 15, 000 for my first year.

Federal loans...private student loans?

Private loans are evil and should never be taken out.. high interest rates, substandard terms, extra fees, cosigners and credit checks will be required.

Federal loans have the better interest rates, less fees, and sometimes the government will pay the interest while you are in school. If the school you are attending is so high you can't pay it with scholarships, federal loans, grants, work study, and such then find a better school with a better financial aid package. (Less debt).

Good luck.

Federal loans...private student loans?

first get all the grants your qualified for... like pell grant or calgrant(in california only) then they will calculate all your school costs then subtract all grants... the remaining can be aquired through federal loan, this is the stafford loan... stafford loan ranges form 2500-5500 only depending on your college level and for first yr i think the limit is 2500, then i will try to get info on how to get the perkins loan... if they allow you to get that then get that... then the last resort should be the private loans... most likely you will still need a private loan but get all federal loans maximized first then get private loan

Student Loans??

My son will be Graduating from High School next year and I would like to know what student loans are the best ones to get and why..... When I went to College I received a Standford loan and my parents paid for the rest. However, I am a single parent and I'm not able to do that. Being this is my first born to make me proud I am clueless to which way to lead him. Any help will be great. Thanks...

Student Loans??

I use to sites for all my loan info I find them very helpful and hopefully they can help you out.

http://www.loansurf.info

http://www.loanunblock.info

Student Loans??

he has to apply for fafsa, they will calculate what federal loans he is eligible for. these loans include stafford subsidized and unsubsidized usually he can borrow on average $5000, then there is perkins loan around $5000, finally you can get parentplus loans if you do not get enough federal aid.

Student Loans??

Federal loans are the best. They have the best interest rates and terms and sometimes the government will pay the interst while hes in college. It would be better if he didn't have to take out loans...or delay taking them out as late as possible. Most kids drop out or quit within thier first two years so I would recomment he at least wait that long.. to know he's serious and will actually graduate. Don't make some parents mistake and pay 2 years of expensive private college only to have the kid drop out to get married... unless that is the intent in the first place... hey... wait a minute!. :-)

Good Luck.

Student Loans??

Student Loan can be sought through many different avenues. It all depends on your personal credit rating. The biggest challenge is finding one that offers the lowest interest rate.There are various routes to explore when seeking out a bad credit student loan and I would suggest that your first port of call would be the school for which you are about to attend. You will need to fill out a FAFSA form in order to initially apply for a federal loan. Perkins loans are combined school and government funds. A combination loan may be another alternative way of acquiring a bad credit student loan. This type of student loan enables you to consolidate%26lt;!--any existing loans that you have whilst applying for a new tuition loan. The only drawback to this type of loan is that you may need someone to co-sign.Another way to get a bad credit student loan is to get a co-signer. Maybe a family member with good credit would help. This way you could get loans with more attractive interest rates and terms, in spite of your bad credit. You may find the student loan here,

http://best-loans.awardspace.com/student...

Finally, if all else fails you will need to contact banks and financial institutions. They will more than likely be happy to lend you the money, but it will be on a higher interest rate than usual. When you have bad credit the banks will check out your personal credit score first and then offer terms based on the credit rating assessment. Take heart, even if your bad credit student loan is set at a high interest rate, numerous--%26gt;student loans defer your payment until you have finished college. This in turn will allow you time to improve your credit rating and when you leave college you could then look into consolidating your bad credit student loan at a better interest rate. This will mean your monthly payments will be at a lower level and therefore more affordable.

Paying back student loans....?

I have 2 more years to go before having to pay back my student loans but i am a little concerned. I have a friend that is currently paying 800/month. I didnt know that they give you a certain amount to pay back. I was led to believe that at the time to pay loans, you can pay the amount you want!

Is this wrong? Is anyone paying loans now, and can you give me some tips and advice?

Thanks!!

Paying back student loans....?

800$ a month is a bit high, but that may mean that they are on a shorter payback plan or just took out a heck of a lot of cash. If you're curious as to how much you owe now and quite possibly what you'll owe later, you can go to the finance department at your school and I'm sure they'll help you out.

Some ideas for the future;

1. If you can, start putting money away now.

2. As soon as you graduate, consolidate your loans. This will save you a lot of money in the long run with interest. Also, currently congress is trying to pass legislation to lessen the interest rate for college loans. Write your congressperson and let them know you support this.

3. Also, when you're consolidating your loans, set up the payment plan that's best for you. If you want to pay it back over ten years or five.

You wont have to start paying them back until 6 months after graduation, but it never hurts to start before then if they'll let you. Also, if you choose to pay more each month in order to knock the loan out sooner, just remember that most don't let you pay over straight to principle. They'll actually charge interest for whatever extra you give, which might actually mean you end up paying quite a bit more for your loans.

When I graduated I owed about $26,000 and after consolidating with a 10 year plan I pay about $160 every month, if that gives you an idea of what you might owe each month.

Hope that helps!

Paying back student loans....?

Hard to answer without knowing what kind of student loans you have from what lender (and in what country?) But if you are talking about US student loans, they typically come with a payment schedule, meaning they'll tell you what you have to pay each month. To complicate things further, if you have private student loans, the interest rate is probably variable, meaning the amount you pay monthly could change.

Best thing to do is look at the paperwork (called a Mastor Promissory Note or MPN) of your current student loans and read them carefully.

Paying back student loans....?

If you know how much you owe approximately, you can go to our website and click on the loan calculator, put in your loans and your repayment period and you can see where you are at.