Financial Crisis ? Q&A: How will the financial crisis effect students ...

Financial Crisis Question by end- user: How will the financial crisis effect students?
Most of the economic jargon goes above my head. I?m wondering how this crisis will effect me, in my daily life, and when; I don?t own a house, and go to school, receiving subsidized and unsubsidized loans. Will this crisis effect my loans, and if so, when? I?ve heard that financial aid has been ?guaranteed? for one more year; and after that, nobody knows. Frightening..

Yeah, I?ve heard about this guarantee on all things federal, up to $ 100,000, but why should we trust the FDIC, at this point?

Best answer:

Answer by Roberto J
No, its will only effect the US economy not the people (as of right now, maybe within months, those who have moratages, something might happen)

Loans might be cheaper, since the US govt will be regulateing it, this will lead to more borrowing, the safer kind of people who can actually pay it back

the real problem is that people borrowed money more than what they could payback

for example: a person making 20k a year borrowed 200k for a house. The person most differently will not be able to pay this back, it will be hard, unless he has more money coming to him. Business lended to people who could not pay back, and both sides lost a lot of this risky business.

as of right now it will only affect Wall Street and other businuess

your students loans are from the US govt, there will be no change (only subsidized, not unsubsidized, complete different loans)

Here is what they are:

subsidized loans:
funds are provided by the U. S. Treasury. These are insured by the federal government and have replaced the Federal Stafford Loan.

unsubsidized loans:
he borrower, not the federal government, is responsible for paying the interest on this loan; however, the program allows borrowers to defer the interest payment until the borrower is no longer enrolled on at least a halftime basis.

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