Loan Assistance

We've rounded up information about a number of loan assistance programs.  See what might be helpful for your particular needs:

The Loan Assistance Program was created in 1998 as a program that provided scholarships to MBAs entering the public and nonprofit sectors after graduation, made possible by a gift from the class in 2005. Eligibility for the assistance program is based on the following factors: employment and financial needs of graduates, including income and loans. The loan assistance is intended for loans related to enrolment in a public or non-profit university certified by the Office of Financial Assistance.

To apply for an SBA loan, please call 1-800-621-3362 for more information about the loan assistance program. If you do not know your credit service provider's name, you can provide your name and a credit service provider's phone number via the live chat by calling 1-800-4-FED-AID. Veterans who have questions about their loan application or repayment should contact the Federal Reserve Bank of New York or the Department of Veterans Affairs to talk to a loan technician. Contact the SBA to find out what options are available to you based on your individual circumstances, such as disaster loans for homeowners and tenants, and other loan options.

Work with your student loan servicer to apply for termination of the Perkins loan or other type of loan assistance program. Pick someone who is a Certified Student Loan Professional to make sure you understand the pros and cons of student loans. Work with a lawyer with experience in student loan cases or with a professional credit counselor, such as an experienced attorney in a local law firm. Contact your school for questions about cancelling the Perkins loan or contact the Perkins office at 1-888-621-4357 to learn more.

If you have a mortgage, your first action should be to contact your lender to discuss your options as soon as possible. Private lenders will also temporarily default on your loans, so talk to your lender about these options. If you need help managing or repaying your student loans, you should contact the credit service to find out what is the best repayment plan for your loan, whether it has been deferred or forgiven, or if you are having difficulty paying it off, you should also contact a credit service partner or the SBA Student Loans Program to discuss the options available to you, as well as your specific loan type and interest rates.

If you have any further questions, you should consult your financial adviser about the tax consequences of lending. If a private lender is suing you to recover your debt, you should consider seeking out the National Association of Consumer Advocates for student loan attorneys to plan your defense and help you settle student loans. A lawyer who worked for three years at the Justice Department earned more than $60,000 in loan aid.

If you have a federal student loan, you can obtain a consolidation loan based on the initial interest rate of your loan. Loan options include conventional insured loans, USDA-guaranteed loans and loans guaranteed by the VA. These include loans insured under the Rural Development Guaranteed Loans Program and the Federal Home Loan Guarantee Program. Loan options include conventional insurance, conventional insurance, VA guarantees and loan guarantees. Loans are insured and VA guarantees loans with interest rates of 3.5% or less or 5% to 10%.

These include loans insured under the Rural Guaranteed Loans Program and the Federal Housing Loan Guarantee Program. Many SBA options could require the borrower to apply for help from FEMA as a condition of the program to facilitate the assistance. If you are not eligible for federal student loans or federal home guarantees, you can choose between traditional insured loans, USDA guaranteed loans, and VA guarantees. Options for this program include conventional insurance, conventional insured loans, VA guaranteed loans, and loan guarantees.

If a small business is in desperate need of cash while waiting for an emergency to come out, such as a natural disaster, fire or tornado, it may be eligible for an SBA Express Disaster Bridge loan. These loans provide important economic support to small businesses to overcome the temporary loss of revenue they experience and can use them to bridge the gap by addressing SBIA directly. There may be other options for those who wish to apply for a disaster relief loan or emergency relief assistance loan (ELA).

Sources
uiw.edu | nerdwallet.com | fhfa.gov | seattle.gov