Can I lose my house because of student loans?
The Department of Justice reports that in the past two years, over 3,300 student loan borrowers have been sued for defaulting. In almost every case, the borrower loses. If the government wins, they can place a lien on your home and even force a sale.
How does student debt affect your mental health?
The burden of debt also contributes to acute mental health issues, including prolonged stress, anxiety, and feelings of shame. A 2021 mental health survey indicated 1 in 14 borrowers experienced suicidal ideation in response to the financial stress of student loans. This stress cannot be therapized away.
Can I take out student loans without my parent’s financial information?
Here is a list of our partners. You can still take out both federal and private student loans even without your parent’s financial information. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.
Should you take out student loans to pay for college?
But fortunately, you don’t have to become a part of that statistic, as there are many alternatives to borrowing money. Here are three reasons why taking out student loans to pay for college is a bad idea – and what you can do instead. You’ll have to pay interest.
Can I take out an unsubsidized loan for college?
You will be able to take out an unsubsidized federal loan only, if any loan at all. Your college’s financial aid office will decide whether to lend to you. Contact your school to discuss taking out an unsubsidized loan.
Can College help you graduate without loans?
College can provide a leg-up in the world, and what a joy for a student to graduate without loans! Especially now, when students in the class of 2015 graduated with an average of $35,000 in student loan debt, according to an analysis of government data by Edvisors.