I am a "mature" student, studying at a university part time while working full time. I just learned that I qualify for a Stafford loan of about $7400. I don't need the loan to pay for classes because of my work income, but it occurred to me that I could take the loan, use it to pay off credit card debt I carry at a rate of interest more than 5 points higher than the Stafford loan rate, and then pay the Stafford loan off early. Essentially, debt consolidation using this federal loan. My questions: is this kosher? Is it wise? What I might not be thinknig about.
posted by anonymous
on Mar 28, 2013 -
13 answers
Help my wife and I solve this minor ethical dilemma: What to do about a chair loaned by a neighbor and no longer wanted by either household?
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posted by crabintheocean
on Feb 13, 2012 -
29 answers
Recently moved, unemployed, running out of money. Should I get a line of credit? (in Canada)
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posted by anonymous
on Jan 9, 2012 -
25 answers
How should I deal with a friend who owes me money and is (apparently) avoiding contact?
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posted by anonymous
on Aug 26, 2011 -
8 answers
Is it possible to get any sort of loan or credit in Australia as a non-permanent resident?
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posted by divabat
on Mar 12, 2011 -
3 answers
How do I get a loan with no interest? I was thinking that I could buy an item on my credit card and then turn around a sell the item. As long as the credit card was 0% for 12 months then it seems to me that would be a free loan. The only question then would be 'What item could I buy that could be sold for as close to the purchase price as possible?'
Also, are there any other ways I could get a no interest loan? I was thinking I could put the money into a brokerage account and earn interest off the money - then pay it back at the end of the year.
posted by locussst
on Feb 16, 2011 -
17 answers
MoneyFilter: I have been paying back a loan and will continue paying back for several more years. A birthday gift in this context, has two options: (a) to permit me to cease making payments for one year ($200/mo) and resume payments 1 year from now and each month of this year being marked as paid (a savings of $200/month for 12 months),
or (b) be given the equivalent $2400 cash up front.
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posted by Quarter Pincher
on Nov 9, 2010 -
18 answers
My parents are loaning us $10,000. Should we save it or use it to pay down credit cards?
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posted by fantoche
on Oct 1, 2010 -
42 answers
Is there anyone who loans money based on the situation, rather than on a credit score/computer without any explanation?
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posted by anonymous
on Aug 24, 2010 -
12 answers
I blew $20,000 of my parents' money in a decision that I've admitted to them was the most unforgivable, shameful thing I've ever done. How do I make this right?
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posted by gacxllr9
on Jun 11, 2010 -
88 answers
Help me repay my debts from abroad: My considerable student loans are in CDN, but I am earning in EUR - can/should I move my debt?
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posted by molecicco
on May 12, 2010 -
8 answers
What are ways to estimate what a car and car insurance would cost me if I moved to San Francisco?
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posted by scazza
on Oct 20, 2009 -
6 answers
How to determine how much I'm owed by someone who's not going to pay regularly ? (in Excel preferably).
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posted by southof40
on Jun 22, 2009 -
7 answers
How can I consolidate my PRIVATE student loans, to make my financial life a little easier?
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posted by SansPoint
on Jan 29, 2009 -
5 answers
My mother was recently approved for a Parent PLUS loan to cover my tuition for this year. The check is now on its way in mom's name to my address, and I have some questions...
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posted by anonymous
on Jan 28, 2009 -
10 answers
A friend of mine is coming in from a couple hours away (each way) for the night (halloween party), and money is tight on her end. I would go pick her up myself, but have to work late into the afternoon and wouldn't have time to drive up and back twice between today and tomorrow. I want to give her the money for gas (I am in a much better position financially), since I know this is a big expense for her and she is saving me the trip, but she is very independent and does not want me reimbursing her.
How can I get her to accept it without making damaging her ego or seeming like this is out of pity?
posted by pennstatephil
on Oct 31, 2008 -
21 answers
We have some money in a Wamu checking account, and an equity loan. Since the word is that
Wamu is teetering, what should we expect to happen to the checking account money and the equity loan?
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posted by everichon
on Sep 15, 2008 -
16 answers
I'm getting a law degree but I hate being adversarial. Any ideas for something fun to do with this degree?
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posted by anonymous
on Jul 18, 2008 -
22 answers
A family member loaned me money a few years ago. I would like to pay it back with interest. How much interest should I pay it back with?
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posted by anonymous
on Jul 17, 2008 -
21 answers
I am looking for the best general student loan company. What are your experienes with specific student loan companies?
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posted by Black_Umbrella
on Jul 3, 2008 -
3 answers
Does a student loan in deferment count as debt for the purposes of figuring debt to income ratios in an FHA loan?
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posted by Dr. Zira
on Feb 27, 2008 -
3 answers
My crappy car was deemed totaled and I'm going to accept the payout and finance a new used car. I'd also like to move into an apartment soon. Step by step, how do I wrangle this plan into fruition?
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posted by cowbellemoo
on Feb 15, 2008 -
11 answers
Trying to Refinance my home (& consolidate some bills). 1 year ago it was appraised at $410k. In the middle of this process, my lender indicated that 2 different appraisers indicated that it's only worth $350k compare to other similar homes in my area... although they haven't come out to do the appraisal yet. I'm concerned that because this is what they believe the value to be, it will be that or close to it. In order for me to do what I need to do (with my bills), I need the value of my home to be at $410. What can/should I do?
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posted by foodybat
on Jun 27, 2007 -
11 answers
Cheap Money Filter: I've got a moderate amount of credit card debt right now ($15k), at reasonable but not great rates (13-18%). I'll be making more money in the upcoming year, and the debt load is manageable, but I want to explore trading these loans with an unsecured line-of-credit type loan or some other loan. Advice? Suggestions on where to get a good rate (i.e. got any good junk mail lately)?
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posted by zpousman
on Jan 10, 2007 -
15 answers
I just landed a well paying job in Seattle after having a soul sucking job, where I did not save a penny for about a year. While the new salary will be great, I am essentially broke, and I need a $3000 loan to relocate and get started (which has been determined to be my responsibility to cover by negociation). None of my relatives or friends have this kind of cash, nor do I have a credit card. So how would I go about getting $3000? Can I just take my job offer into a bank and use that as leverage for a loan? Mefites, help me back out of this corner and find the cash to live my dream.
posted by |n$eCur3
on Oct 27, 2006 -
16 answers
How much money should I loan a very good friend of mine in a tough situation? I feel lost as to what I should do. (extended facts in the extended)
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posted by whatitis
on Sep 20, 2006 -
33 answers
I have a surprise chance to pay off my student loans (!), so how do I go about doing this in the way that's best for me? My "more inside" has a few details about possibilities / ideas.
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posted by anonymous
on Sep 1, 2006 -
19 answers
I am seeking some unbiased advice on personal loan consolidation. Search engines are too spammed by commercial outfits of dubious value to be of any help. But MeFi knows everything!
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posted by blindcarboncopy
on Dec 17, 2005 -
19 answers
Home Buying Question: As a low-income artist, I’ve recently taken the plunge and qualified for a zero-down, stated income loan, and have found a great place to buy. But now there’s a complication with parental involvement which I have no idea how to deal with. It’s not what you might think...
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posted by Aquaman
on Jul 31, 2005 -
16 answers
Can you tell me about your experiences getting a loan through the Small Business Administration please? [more inside]
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posted by vito90
on May 27, 2004 -
8 answers
Trying to solve a problem for a dear friend from highschool. She's been ignoring her school loans and came to me out of confidence. They were around 22k about six years ago; She doesn't know how to get herself straightened out. A second job isn't an option (based on her first) as the first job pays well (travel), but is being garnished; She needs a way to get them off her back, but not overwhelm her so much that she drowns trying to deal with them.
I'm ok with money, but I just can't figure out what to tell her.
Are there any counselors who specialize in this that I could send her to? If you're shy about this and dealt with this, please feel free to contact me directly by email.
posted by filmgeek
on Dec 20, 2003 -
12 answers
