this is for my grandmas case SHE HAS NO PROPERTY OR NOTHING IN THIS COUNTRY AND SHE HAS NEVER WORKED HERE AND SHE IS A US RESIDENT
2007-01-21 14:09:22 · 4 answers · asked by bravofolch 3 in Education & Reference ➔ Financial Aid
if you are having problems paying the student loan, just call the number on the bill and ask how to apply for a "forbearance".
a "forbearance" will allow you to go 3 months without paying because of your hardship situation. they usually require a letter of hardship (explaining why you cant pay right now) and they grant it.
notorized too, i think. call and ask for it, then they will leave you alone for a bit so you can get back on your feet.
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2007-01-21 16:50:05 · answer #1 · answered by Yvette B yvetteb 6 · 0⤊ 0⤋
She can still have her earnings garnished, be billed for attorney and collection fees and even be sentenced to jail. She should not sign for a student loan if she has concerns that the student will not honor the loan agreement. She is responsible, and to use an old fashioned word, paying debts you've signed for is the honorable thing to do.
2007-01-21 22:51:13 · answer #2 · answered by College Advisor 3 · 0⤊ 0⤋
She is required to pay. She signed a contract and even declaring bankruptcy will likely not cancel her obligation.
Hope this helps!
Christopher S. Penn
Producer, the Financial Aid Podcast
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2007-01-21 23:08:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
unfortuately your grandma will have to pay..that's why a lot of people don't wish to be co signers.. She can take him to court to try to get it ordered from the judge to pay it or pay her back.. unfortunatey. she's SOL.. Once ur grandma passes they will go back to making the student pay but someone has to pay.. It will look bad on her credit report if she doesn't
2007-01-21 22:15:28 · answer #4 · answered by chilover 7 · 1⤊ 0⤋