Consequences of Student Loan Default

Defaulting on your student loan has some expected consequences such as being reported to the Credit Bureaus, which will definitely impact your credit score negatively.

You may also find yourself impacted by any or all of these other situations:

• Your federal or state income tax refunds or other federal or state benefits will be used to reduce your loan balance.
• Collection fees and costs, court costs and attorney fees will be added to your loan.
• If you have a state professional license you may lose that license, or be

Reminder: Your Student Loans May Be Coming Due!

Did you just graduate from college in the Spring of this year (2013)?   If so, you are probably nearing the end of your grace period.   Your grace period is that six months (in most cases) that your lender allows you as a reprieve before you are required to start paying back your loan.   Well it is supposed to give you time to get a job, and

Kahn Academy: Free World Class Education

So school's in session, and you are probably running really hard trying to keep up with your assignments, and its so important to stay several steps ahead.   If you feel you may need some help, like a tutor, consider logging into the Kahn Academy site where you will have access to many tutorials.   Kahn Academy was founded by Sal Kahn with both MIT and Harvard

Student Loan Debt Hampering Your Start Up Business Desires?

So, you graduated college, haven't been able to find a job, you have a few ideas to start a business, but at the back of your mind you are probably thinking that there is no way you can make your student loan payments and undergo the uncertainty of a start-up, well consider the income-based repayment (IBR) programs that exist for federal student loans.   Under this program graduates with lower incomes or families are required to make loan repayments on a sliding scale.  See what your repayment amount might be with this IBR calculator.   Learn more about the program here.   Read Sean Greene's piece on Student Start-Up Plans.

Xerox Technical Minority Scholarship 2012-2013 - deadline 9/30/2012

If you can act fast you may consider applying for the Xerox Technical Minority Scholarship, the deadline is September 30th, 2012 and in addition to personal information, information from your institution is required:

• Cumulative GPA
• Estimated cost for tuition, books, and other tuition-related expenses for the 2012-2013 school year
• Name and amount of scholarships and grants that the student is receiving or anticipates receiving for the 2012-2013 school year.
• Total of scholarship and or grants for the school year
• Tuition balance for the school year taking into consideration any scholarship and grant funds.
• Name and address of the school official to which the scholarship check should be mailed.  PO Boxes will not be accepted.
• Your full-time enrollment must be verified, and the application must be stamped and sealed by your institution.

You can find the application form here.  Please read the instructions carefully.  Good luck.

To read more about Xerox Student Careers, visit their website here.

Graduated in 2011? Check your repayment due date.

If you graduated in May or June of this year - 2011 - then your 6 month grace period is probably up this month (November) or next.  Perkins Loans have a 9 month grace period - mark your calendars now.  If you haven't heard from your lender or servicers - contact them.  If you aren't sure who your loan servicers are - look it up here at www.nslds.ed.gov  - the National Student Loan Data

2012 Talbots Scholarship Program

I shop at Talbots because I simply love their well made clothing.   They have a classic style, are durable and will be in your closet for years.   While I was on their website recently I came across their scholarship program.  So if you are female and are pursuing a college degree later in life - take a look.

You may qualify for the 2012 Talbots Scholarship Program, if you reside in the US or Canada and had a high school diploma or GED before September 2001 and are enrolled or plan to enroll in an accredited 2 or 4 year college or university either full-time or part-time, and will be attending for the full 2012-13 academic year.   You should be receiving your degree no earlier than May 2013 and you must have at least 2 semesters (24 or more credit hours) remaining to complete an undergraduate degree at the start of the 2012 fall academic term.  

Scholarship recipients will receive a $10,000 or $30,000 scholarship, a Talbots Gift Card, donated by Talbots and the Reinvention Resume Plus eKit, a step-by-step tool to develop resumes and cover letters.  You can't win if you don't apply so apply here.

Deadline - January 3, 2012.