Boston Tenor asked:


We are looking for a home about $150,000 and we have about $70,000 in Private student loan debt at 7%.

migueljuan asked:


I currently owe $45,000 in student loans and I am having a hard time paying them off. The loans are private (sallie mae) and I am not elligible for consolidating them via federal loans since I am not a US citizen. I was not able to get a visa so I had to leave the US. I live in Europe now.

I understand that declaring bankruptcy would not cancel out the student loans, but I have read that bankruptcy could cancel out credit card debt. I have a good credit score (790), so given some time, with an even higher credit score, I may be able to transfer my loans to a few credit cards.

What are the laws regarding credit card debt and bankruptcy? What difference does it make that I am not a US citizen and do not live in the US?

belle asked:


Does that become your responsibility as well? I am assuming so, but I have heard conflicting stories on student loan debt, so if anyone could clear up my confusion…

Louie V asked:


with tuitions being higher needs for laptops, cell phones, room and board etc, and commercial everywhere for private loans. Will the working class of tommorow not have enough disposable income because of all the student debt to keep the economy moving.

gurlygurl20000 asked:


Okay so it’s impossible to get an apt., house, or car with existing debt, does this also include student loan debt?

antheia asked:


I took out a $17,000 student loan last year because I have failed to qualify for any financial aid. Again, this year, I was turned down again, but I didn’t factor that $17,000 in anywhere. Would that money change anything? If so, where exactly on the application can I put that I am in debt that amount?

C W asked:


I will graduate in December with about $100K in student loans. Would like to buy my first home in the next 2 years. My projected gross income is $85K. Should I save for down payment? Pay a big chunk of student loans? A little of both? I have zero credit card debt and no car payment. Thanks in advance!

dukiduke asked:


I’m going to graduate from college with about $100,000 in student loan debt, and with companies checking prospective employees’ credit before they hire them, how much of an issue is that going to be?
I still have a good credit score (~690-720) and no credit card debt or car loans and never had any late payments.

TwistedxKiss asked:


I was watching a tv show on HGTV about people buying their first houses, and one of the families couldn’t get a decent mortgage amount because they had credit card debt. Is that just because the credit card debt affected their credit in general? If someone has student loan debt can they still get a mortgage as long as they are meeting at least the minimum payments?
Pretend you are talking to a 12 year old. I have no financial experience yet.

Rob A asked:


I have student loan debt with pretty low interest rates (5% and 3% respectively). Is it better to put extra money toward paying off the student loans quicker or putting that extra money into an IRA and/or good mutual funds which would ideally earn a higher interest rates than the loans?