I have private student loans (not fed subsidized) through Sallie Mae. I, accidentally, have found myself delinquent on the loans for one month. A friend is offering to pay a large portion of the loans, but not the entire amount. Can I use this to negotiate wiping my delinquency from the records and thus not have it hit my credit report? Also how bad will going into forbearance during my (unpaid) internship be until my full-time job starts? One more, due private student loans qualify for the interest deduction on my taxes? [more inside]
posted by geoff. on Aug 6, 2007 - 9 answers

I need a new vehicle and have been looking at payment option. I figure my current car is worth $6000 and I can effectively put another $5000 down in cash. The car I'm looking at (Land Rover Discovery) will be $20,000 total (including taxes). This means a $9000 loan. Since I am a student I qualify for student loans. Can I use a student loan to do this? What's the best student loan for doing this with? I'd take out a traditional loan but I figure seeing as how I'm a student that this would get me the best rates. And if anyone has Land Rover horror stories feel free to add. [more inside]
posted by geoff. on Jun 12, 2004 - 44 answers