I know I’ll need to get a student loan sometime during my university studies. I was just wondering how they work, what you need to get one and how long you have to pay it back. Any extra details would be much appricated.
P:S I am a planning on studying in the U.S but I live outside the U.S.
I am trying to get a student loan, because I need to be able to pay for an apartment and need to get a new vehicle. I am working but I’m only making minimum wage and its not enough. How do i get a student loan that will send me the money instead of the school?
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?