(04-12-2019, 09:38 AM)davewill Wrote:With the direct loan system, you're in debt to the federal government, which is better than being in debt to a bank. Neither of the student loan debts can be discharged in bankruptcy, but the federal loans come with more protections.(04-12-2019, 08:12 AM)zzzz24 Wrote: If it were me, I think I would be focusing on paying off my debts to the previous school before trying to get assistance to shell out more funds on another school.
Basically, your plan is to get funds from one, pay off the debt from the previous, and then be in debt again to the new school?
I am not familiar with the U.S. school loan system, but don't they check someones previous outstanding debt before shelling out additional funds?
The point of an education loan is to not be in debt to the school, but to a bank/lender. So they would be getting a loan to pay ALL of their schools, including the one they currently owe money to.
That said, you have a valid point. That's the point of working with the New Mexico schools. They could get a Pell Grant, pay for courses there, and still have money left to use towards the outstanding debt, all without having to borrow.
(04-12-2019, 08:12 AM)zzzz24 Wrote: If it were me, I think I would be focusing on paying off my debts to the previous school before trying to get assistance to shell out more funds on another school.
Basically, your plan is to get funds from one, pay off the debt from the previous, and then be in debt again to the new school?
I am not familiar with the U.S. school loan system, but don't they check someones previous outstanding debt before shelling out additional funds?
I was in debt to WIU when I received financial aid at three different schools. I used my refund check from the Alamo Colleges (or maybe it was Central Texas College) to pay off the debt so that I could graduate from TESC. The federal financial aid system does not check, and probably doesn't have the ability to check, if you're in debt to a school. There's no credit check for Direct Loans.
My debt was smaller, though. I only owed $2,700. To be honest, they wouldn't negotiate like they did with credit card debt.
Graduate of Not VUL or ENEB
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Intro Psych 70, US His I 64, Intro Soc 63, Intro Edu Psych 70, A&I Lit 64, Bio 68, Prin Man 69, Prin Mar 68
DSST
Life Dev Psych 62, Fund Coun 68, Intro Comp 469, Intro Astr 56, Env & Hum 70, HTYH 456, MIS 451, Prin Sup 453, HRM 62, Bus Eth 458
ALEKS
Int Alg, Coll Alg
TEEX
4 credits
TECEP
Fed Inc Tax, Sci of Nutr, Micro, Strat Man, Med Term, Pub Relations
CSU
Sys Analysis & Design, Programming, Cyber
SL
Intro to Comm, Microbio, Acc I
Uexcel
A&P
Davar
Macro, Intro to Fin, Man Acc
MS, MSS and Graduate Cert
AAS, AS, BA, and BS
CLEP
Intro Psych 70, US His I 64, Intro Soc 63, Intro Edu Psych 70, A&I Lit 64, Bio 68, Prin Man 69, Prin Mar 68
DSST
Life Dev Psych 62, Fund Coun 68, Intro Comp 469, Intro Astr 56, Env & Hum 70, HTYH 456, MIS 451, Prin Sup 453, HRM 62, Bus Eth 458
ALEKS
Int Alg, Coll Alg
TEEX
4 credits
TECEP
Fed Inc Tax, Sci of Nutr, Micro, Strat Man, Med Term, Pub Relations
CSU
Sys Analysis & Design, Programming, Cyber
SL
Intro to Comm, Microbio, Acc I
Uexcel
A&P
Davar
Macro, Intro to Fin, Man Acc