What is the rate of student loan default in America?
538641
I suppose that if you were an American you'd know.  As that you're NOT an American, suck our collective ass.
344826
It's true that Federal Stafford Loan interest rates are set by the government.  While there isn't much negotiating anyone can do there, there are features that help to differentiate one loan company from another AND save you money.\n\n1) Loan Fees: Find is a company that offers a 0% Guarantee fee AND a 0% Origination fee.  These are costs that CAN be high but which the guarantor and lender have the power to waive, usually as part of their arrangement with your school's Financial Aid Office. Talk to someone in Financial Aid at your school.  Most offices only have a handful of lenders (at MOST) and only 1 guarantor with whom they work.  Loan fees change all the time and MUST be disclosed to you, so you have every right to request this information.  Truthfully, these companies are ACHING for your business, so many of them have been advertising "zero fee Stafford Loans" for some time now.  Examples: Sallie Mae, Citibank, Bank of America, EdAmerica. {Note: fees may vary by school, so double check before committing.}\n\n2) Back-end repayment benefits.  If you are very good about repaying your loans on time, this is where you can really "score."  Many companies (again, sometimes as part of a deal with your Financial Aid Office) will offer additional benefits to students who have borrowed with them.  For example, some companies offer to credit you a certain percentage of your principal loan balance after you make a certain number of payments on time.  Anywhere from 3 to 4% cash back after 33-48 on-time payments (Examples: Citizens Bank, EdAmerica, Bank of America). Other companies go the interest rate route and make offers such as "2% interest deduction after 48 on-time payments."  Of course, these offers often vary by state or by school, so check to see if they apply to you (Example: Citibank).\n\nWhy can they offer these things when student loan rates are already lower than, say, mortgage and car loan rates?  Well, because most students don't get to the point where they can actually take advantage of the benefits.  Generally, if you miss even one payment, the "48 consecutive payment" offer becomes null and void. Similarly, if you  consolidate (which so many people have done lately), the benefits cease to exist. The utilization rate that many companies report for these benefits is about 20%... not bad.  If you know that you're the kind of person who has a good grasp on your finances and will pay on-time for a few years, go for it!\n\nOne last thing: it's important to shop around but it's just as important to ask your Financial Aid office for guidance before you make your final selection.  They will be able to tell you if an offer is too good to be true or if a company is tossing around benefits because they won't be around long enough to have to make good on their offer (some companies aren't as established as others).
844794
An APR rate is like a PIN number.\n\nThe APR is the Annual Percentage Rate you pay for a loan. The lower, the better.
1162923
In the US fill out your FAFSA form to find out, you will more than likely be able to get a loan, but it won't be great.\n\n\nwww.fafsa.gov
428967
http://www.bankrate.com/brm/calc/cdc/CertDeposit.asp\nanswer is 1,947.00
405361
Im guessing you got that notice in the mail from some consolidation company. If you've taken student loans, I would first consult with the financial aid office or the equivalent, or your personal bank and make sure it's not an adjusting rate as you pay it off.
990744
Some lenders will report you after about a week, but most will just assess a late fee and assume that you just forgot, and not that you couldn't make the payment.  However, even as little as 2 days late can raise the interest rate 1 percent.  But anything more than 5-10 business days late could definately be reported.  This is why student loans usually give you a .5% discount if you simply deduct the payments from a checking account.
964661
A default is usually when the account is transferred to a debt collection agency.  It would normally occur if you have 3 months in arrears. or 3 late payments in a row. 1 payment late wouldn't matter.
164286
Yes, APR is annual percentage rate, but it is more than just an interest rate. It includes the fees so you get a better picture of your overall earnings. Example: Invest $1000 with $100 interest in a year = 10%. Invest $1000 with $100 interest and $10 in fees = 10% but 9% APR - $90 after fees.  Similar situation occurs with loans. $1000 borrowed with $100 interest = 10% but $1000 with $100 interest and $10 fees = 11% APR ($110/$1000*100).
840639
it's called student loans.
1082415
apply for a student loan fast
277163
It depends how long the rate stays fixed, and on the type of loan that you are talking, it is either differed interest, or an interest only and it could change in 1 month or 1 year.  It is pretty broad.\n\nCall me at (614) 825 1907 and we can talk more.\n\nTim Kazee
158094
You mean debt to income ratio.....it is usually about 40-60 or somewhere in between.
1076317
Make sure you consolidate and try to do it fast cause the rates are going up soon.  Watch taking out another loan to pay off, compare interest rates but get a payment you can afford.  If you default on a student loan, the government can garnish your wages, take tax returns and all professional licenses are subject to being revoked.  Good luck!!!
531934
The other people who answered this question are right.\n\nFor more detailed information, check out this article on my blog.\n\nhttp://ohiomortgages.blogspot.com/2006/04/stated-income-loans.html
689019
Student loans take time to pay back. Typically you are allowed up to 10 years. Don't think you owe all 18 grand immediately. \n\nSet up a monthly budget and pay your monthly loan payment on time. That way you won't default on the loan. \n\nUsually, you are given 6 months from the date of graduation from college before you owe your first payment on the loan. That way you have time to find a job, get settled into an apartment, etc. before the loan payments start.\n\nOne more bit of advice. Pay extra on the loan every month (towards the principal) if possible. That way it won't take as long to pay it all back, plus you won't pay too much extra for the loan.
601069
what is the current rate?