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How to reduce payments on student loans and tuition?

July 31, 2022 By 1 Comment

Question by Bill B: How to reduce payments on student loans and tuition?
My nephew cannot take out any federal loans and has used a lot of private loans to pay for school. He is out of school and cant afford the monthly payments the loans have given him. Also he did not pay for his last semester in Grad school and now they have sent his loan to a debt collector. Those payments are also expensive. What are some different ways to reduce this debt?

Best answer:

Answer by Parka T
2 Things you can do

1) Declare Bankruptsy

2) Seek Advice from a charity, i dont know if you have the citizens advice bureau (like we do in the UK)

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Can art teachers receive the loan forgiveness program?

July 31, 2022 By Leave a Comment

Question by .: Can art teachers receive the loan forgiveness program?
Im planning on becoming an art teacher for secondary schools and I was wondering if I would be eligible for the loan forgiveness program? I have the subsidized and unsubsidized loan.

Any information would be helpful. Please,no guesses ): Providing proof for your answer would be great also.

Best answer:

Answer by NotAnyoneYouKnow
To qualify for Stafford Loan deferment or cancellation, you must either serve in a school that provides services to a low-income population, or you must teach in a subject that has been identified as a critical shortage area. Loan cancellation is only available to those who work in low-income schools - borrowers who teach in critical shortage areas are only eligible for a loan forbearance.

If you work in a low-income school, you must complete 5 years of full-time employment, and you must be accredited as a “highly qualified” instructor. The maximum forgiveness amount is $ 5000, unless you work in mathematics, science, or special education, in which case you could qualify for a maximum forgiveness of $ 17,500.

You can not apply for the program until you have completed the 5 years of employment. There’s a good brochure here http://studentaid.ed.gov/students/attachments/siteresources/15936_GPO_Stafford_SCREEN.pdf that describes the Stafford Loan Forgiveness Program, or you can read all of this in more detail on the Department of Education’s web page here: http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp?tab=repaying

Do not confuse this program with the newer TEACH Grant program that offers grants of up to $ 4000 for current students who sign a contract agreement obligating them to work in low-income schools upon graduation.

If you want to see the list of low-income schools that qualify for the cancellation program, that list can be accessed and searched here: https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp

I hope that helped - as you can see - no guesses!

Good luck!

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Is Computer Science considred a quantitative major for finance jobs?

July 30, 2022 By 2 Comments

Question by Ali R: Is Computer Science considred a quantitative major for finance jobs?
I want to work in investment banking/ finance after college, and was wondering if Computer Science would be a good quantitative major for an undergraduate degree.

Ultimately, I want to get an MBA right after or at least a Masters of Finance degree before I start working.

Best answer:

Answer by Inkskipp
It is and it isn’t. Depends on what part of the financial sector you want to apply for, after college. A computer science degree is a definite plus for these institutions, but you would need to have studied some related units.

Investment banks would look for specific related units:

Quantitative Methods
Management Accounting
Economics
Capital Management/Corporate Finance.

A degree in information systems and management fits the bill, but a pure computer science degree is not a pertinent subject, unless you want a job in IT. So, your plan to do an MBA is an excellent career move. Good luck.

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If debt is so high how is the economy doing better than others?

July 29, 2022 By 1 Comment

Question by Tannia: If debt is so high how is the economy doing better than others?
The debt in the United States is way higher than other countries, yet its economy is stronger than many other nations. What are some reasons for this?

Best answer:

Answer by gosam777
Because the U.S. GDP (Gross Domestic Product=total value of all goods and services produced in a country) is more than 3 times larger than the 2nd leading economy, Japan. The more income you produce, the greater the debt load you can carry. GDP is a nations income.

Another reason is 1/3 of the national debt, is in intragovernmental holdings. Those are Social Security, Medicare, road use tax surplus money placed in special U.S. Treasury bonds. This 1/3 of the debt, is money the government owes itself, http://www.treasurydirect.gov/NP/BPDLogin?application=np

http://www.davemanuel.com/investor-dictionary/intragovernmental-holdings/

In addition, the government borrows money (public debt) from outside sources by selling U.S. Treasury securities. Investing money has a risk. Investing in the stock, real estate, or commodity markets can return big money on your investment, but you can also easily lose a lot of money

Retirement funds including 401K’s, IRA’s, pensions, all need a safe secure place to invest a portion of the funds, so in the event of a market crash, the money is safe. Foreign government, corporations, private investors likewise need a place to invest million/billions, in secure deposits.

U.S. Treasury securities provide the safest. low risk avenue to put those funds in the world. They also provide the federal government very low interest loans. So it’s kind of a win-win proposition. The government has an endless supply of cheap money to borrow, and investors have a low-risk, secure place to keep their assets safe.

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What are the professional degree in Finance & Accounting that is accepted globally?

July 29, 2022 By 1 Comment

Question by R Zaman: What are the professional degree in Finance & Accounting that is accepted globally?
I want to pursue a global career in Finance & Accounting. I already have a BBA degree in Finance from local University. Its not good enough.I hard there are some opportunities like ACCA, CFA that gives better competence and winning edge in case of getting JOB In internationally reputed organization. Is there any other professional degree that can be pursued from any country? Where can i find relevant information about it? Any Web address? Please let me know.

Best answer:

Answer by Q&A
cfa cpa

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What percentage of your income goes towards your mortgage payments?

July 28, 2022 By 2 Comments

Question by Ash: What percentage of your income goes towards your mortgage payments?
If you don’t mind my asking, I’m trying to figure out what a reasonable percent of my income is to be going towards a mortgage payment. My partner and I make around $ 6500 gross monthly, and I’m wondering what percent of that we could reasonably spend on a mortgage without getting in over our heads. We have no other debt, but have normal bills like utilities and car insurance. If you don’t mind could you please give me an idea of what you earn and what you put towards your mortgage? Or what percent of your gross income goes towards your mortgage payments?

Thanks so much!

Best answer:

Answer by MonaLisa Overdrive AM VT wannabe
The rule of thumb is 30% of your take home, or 40% of your gross. Remember that the interest and proprty taxes (most of your payment in the first years) is tax deductible.

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Can I get student loans after having old loans paid through having my taxes garnished to pay off old loans?

July 27, 2022 By 2 Comments

Question by shane: Can I get student loans after having old loans paid through having my taxes garnished to pay off old loans?
I had attended some classes before and got financial aid but in order to pay them off I had to have my income tax returns levied. They are paid in full now and I am thinking about going back again. Can I still get financial aid after having had my taxes levied to pay off these old loans?

Best answer:

Answer by Anonymous
yes

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How can I become a mortgage broker in california?

July 27, 2022 By Leave a Comment

Question by Dennis S: How can I become a mortgage broker in california?
I simply cannot seem to find legitimate information on becoming a mortgage broker in California. Many of the web sites that purport to have information really share very little of anything and some are just plain frauds. I’d like to find information on mortgage broker training and possibly information on finding a school (preferably Los Angeles) where I can get training on becoming a mortgage broker.

Best answer:

Answer by mosquitojammer
What are you thinking BRO that is a bad job especially this time of the year. You only get two applicants a week. No houses selling.

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How does the interest on education loans accrue?

July 26, 2022 By Leave a Comment

Question by nwaff102: How does the interest on education loans accrue?
I am talking about private loans.
Say I am getting a $ 20,000 unverified private loan with an interest rate of prime(7.75). What will this loan be in 1 year with no payments? I am struggling with exactly how to figure this out.
I am looking at putting my federal loans in a high yield savings account as being a nurse they will be paid after a while of working.
I know this question is kind of scattered, but so is my head right now.

Best answer:

Answer by John
Just call your lender. They can easily and quickly tell you.

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How much money do mortgage brokers make?

July 26, 2022 By 3 Comments

Question by Carson: How much money do mortgage brokers make?
I heard that mortgage brokers drive Porches and make tons of money. By and large, how much does the average mortgage broker make?

Best answer:

Answer by Yrent.com
There is no set amount the average mortgage broker makes. It is a sales buiness and all depends on the amount of business they do on a given year. the last 6 years have been really good for us. So there is a boom of Brokers showing off their earnings.

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