Federal Student Loan Question

[nclrgirl]

It''s me again with my tuition issue. I''m leaving my company to work at a government agency, and I''ll owe my company a considerable (for me) amount of money for tuition that they have paid for. The government agency has said that they can pay for it IF I can get a federal student loan for the amount. Is there ANY way to get a federal student loan in my situation? Any expert advice or even non-experts sharing their student loan experiences would be GREATLY appreciated!

Thank you all for reading and (hopefully) responding in advance!

 

[rockzilla]

Unfortunately, I don''t think it is possible for you to get a loan after the fact. If you are leaving your previous employer before your commitment is up, you will most likely have to work out loan terms with them.

 

[iheartscience]

I don''t think it''s possible either. The federal government is pretty strict with student loans (in my experience), and if you do get awarded a loan, the government gives the loan to the school directly. The school takes out tuition, room and board, etc., and then any left over goes to the student.

How quickly do you have to pay your company back? Could you get on a payment plan with them? Good luck!

 

[poshpepper]

You wont be able to get a Federal Student Loan for classes you have already taken. However, you can go to a private institution (bank or credit union) and get a private student loan (that has the same benefits like paying 6 months after graduation) and you would be able to use that money to pay off your company. Usually that money they give you upfront and let you use it as you see fit (at least that was the case with me when I used Wells Fargo).
Good Luck, this is exactly why I choose not to use my Company''s tuition reimbursement (well that and because they would only pay about 15% of my tuition anyway...)