How come the states that ranked highest in education are mostly blue states?

Dec 122011
 

1BMassachusetts16.59
2BVermont16.43
3BConnecticut15.8
4RMontana9.48
5BNew Jersey9.39
6BMaine7.67
7BPennsylvania7.33
8BWisconsin6.55
8BIowa6.55
10BNew York6.16
11RNebraska5.24
12BMinnesota4.38
13RIndiana3.93
14RWyoming3.54
15RKansas3.12
16BRhode Island2.92
17RVirginia2.59
18BMaryland2.58
19BDelaware1.89
20BMichigan1.22
21RNorth Carolina0.99
22ROhio0.02
23RAlaska-0.08
24RNorth Dakota-0.32
25RUtah-0.37
26RNew Hampshire-0.83
27BIllinois-1.02
28RMissouri-1.3
29RWest Virginia-1.31
30RIdaho-1.49
31RSouth Dakota-2.37
32BOregon-2.78
33BWashington-2.88
34RTexas-2.93
35RColorado-3.41
36RGeorgia-5.22
37RKentucky-5.32
38RArkansas-5.76
39ROklahoma-6.06
40RFlorida-6.14
41RSouth Carolina-6.34
42RTennessee-7.15
43BHawaii-7.8
44BCalifornia-9.45
45RArizona-10.44
46RAlabama-11.82
47RLouisiana-14.28
48RMississippi-17.4
49RNevada-17.74
50BNew Mexico-22.04

http://www.morganquitno.com/edrank03.htm

Red/Blue ranking are based on the 2000 election.

How/where to deduct real estate training fees on taxes?

Dec 022011
 
real estate
byRavi Karandeekar

I plan on getting a real estate license for the education and qualification when managing my private real estate investment career.

Where/how do I deduct these costs on my taxes? Eventually I’ll set up a real estate company where I could deduct them, but that won’t be set up for a while.

Thanks.

Just found out some interesting news about my student loan…

Mar 182011
 

Just got off the phone with a servicer of one of my student loans….

 

A loan that I thought I would be entering into repayment on soon…. is still in In-school status!!  Deferment baby!!!

 

I graduated from U of Minnesota last year with 37k in in student loans.  24k of that was Federal loans which I was able to defer since I’m now in graduate school (22k of which is subsidized).

 

The remaining 13k was with the SELF Loan program through the Minnesota Dept of Higher Education.  I was told previously by a phone operator from Firstmark Services, the servicer of my SELF Loan, that I could not defer it during graduate school because University of Iowa was not a participating school in the SELF loan program.

 

Found out today, though….. they are!  So now all my loans are deferred during grad school.  That’s another 4-5 years  (average time to complete my program is 5.5 years).  I also found out that when I finish my PhD program and I go onto Post-doctoral studies for 3-5 years, I can defer then too!

Wow. Almost 10 years of ignoring my loans!

 

But.  Unfortunately… this news doesn’t really change anything… because interest will still collect on the SELF loan so it’s on my hit list to pay off before I leave graduate school anways.   But it does feel good knowing that I don’t have to pay it off right now.  :smileyvery-happy:  Now I won’t feel guilty when more money dumps into my Roth IRA each month than into paying off that loan. 

Looking for a boost, help!

Mar 012011
 

So here’s a breakdown of my credit account/payment history:

 

Open accounts:

Chase CC – $500 Limit – $0 Current Balance – Opened 6/2003 (30D lates, Jan 2006, Sep 2005)

CapitalONE CC – $1200 Limit – $0 Current Balance – Opened 3/2002 (30D late, Jan 2006, 60D late, Feb 2006)

Personal Loan – $2500 Original Disbursment – $1660 Current Payoff – Opened 5/2010 (Never late)

Auto Loan – $11735 Original Disbursment – $9211 Current Payoff – Opened 5/2010 (Never late)

US Dept. of Education – $63179 Original Disbursement – $63100 Current Payoff – Opened 1/2011 (Never late, have made 1 payment)

SallieMae Student Loan 1 – $9642 Original Disbursment – $13674 Current Payoff – Opened 11/2001 (Never late)

SallieMae Student Loan 2 – $7700 Original Disbursment – $12759 Current Payoff – Opened 10/2000 (Never late)

AES Student Loan 1 – $7734 Original Disbursment – $9581 Current Payoff – Opened 5/2010 (60D late, Sep 2006, 90D Oct 2006)

AES Student Loan 2 – $3351 Original Disbursment – $3498 Current Payoff – Opened 1/2006 (30D late, Jan 2007)

WellsFargo Student Loan – $5400 Original Disbursment – $6289 Current Payoff – Opened 2/2000 (30D lates, Jan 2009, Mar 2007)

Iowa Student Loan Loan – $5755 Original Disbursment – $4867 Current Payoff – Opened 10/2002 (30D lates, Mar 2009, Jan 2009, 90D late, Jun 2006)

 

Closed Accounts:

Key Bank Credit Line – $500 Limit – Opened Jun 2004 – Closed Aug 2007 – (Never late)

Personal Loan – $2368 Original Disbursement – Opened Jul 2008 – Closed Jan 2009 – (Never late)

Personal Loan – $2700 Original Disbursement – Opened Apr 2004 – Closed Apr 2006 – (30D lates, Apr 2006, Feb 2006, Sep 2005, Aug 2005, Jul 2005, Jun 2005, 60D lates, May 2006, Nov 2005, Oct 2005, 90+D lates, Sep 2006, Aug 2006, Jul 2006, Jun 2006, Dec 2005)  This account ended up in small claims court, which is the judgement listed below.  Yes, I was going through a very tough time financially…

Iowa Student Loan – $12232 Original Disbursement – Opened Dec 2004 – Closed Jan 2011 – (Never late, consolidated this loan into the US Dept. of Ed. loan listed above)

Best Buy CC – $1200 Limit – Opened May 2003 – Closed Aug 2008 – (30D lates, Apr 2008, Aug 2007, 60D late, Feb 2006)

Snowmobile Loan – $6240 Original Disbursement – Opened Nov 2007 – Closed Jul 2009 – (Never late)

Boat Loan – $2000 Original Disbursement – Opened Apr 2009 – Closed May 2009 – (Never late)

Auto Loan – $5646 Original Disbursement – Opened Jan 2009 – Closed Apr 2010 – (Never late)

Auto Loan – $2950 Original Disbursement – Opened Jun 2009 – Closed Jan 2010 – (Never late)

Auto Loan – $18917 Original Disbursement – Opened Mar 2005 – Closed Mar 2008 – (30D lates, Jul 2007, Jun 2007, Jan 2007, Dec 2006, Jul 2006, Apr 2006)

Auto Loan – $8450 Original Disbursement – Opened Apr 2004 – Closed Mar 2005 – (Never late)

Auto Loan – $5300 Original Disbursement – Opened Aug 2003 – Closed Apr 2004 – (Never late)

 

Collections:

Home Properties – Assigned 9/2006 for $803 – PIF as of 8/2008

Time Warner Cable – Assigned 9/2006 for $350 – PIF as of 8/2008

 

Public Record:

Paid Civil Judgment – $547 – Filed 7/2006 – PIF 8/2008 (Reference $2700 Personal Loan above for more info.)

 

My current FICO’s (pulled here) are TU675, EQ681 and EX661 (pulled in January by a lender).

 

So now that you are aware of my credit report info. how do you think I can break the 700 point mark?  Just time?  I’ve already tried GW letters for ALL the baddies with absolutely no luck.

How does student loan works?

Mar 012011
 

I am newbee to this section and would like to know how the student loan works. I have a 19 year old daugther and she is going to be sophmore in the college this september. We will get some scholarship from school and we have to pay some from the pocket. Even if she gets the loan, I’ll be one paying off the loan on her behalf.

 

1. Can she get a student loan on her own or do they require parents to co-sign for the loan?

2. She having good fico scores obviously helps. But are they considered when she is applying for student loan?

3. What are the differences between private student loans and govt backed student loans. If he want to apply for the govt backed student loan is there any requirement for parents and income?

4. If parents has income does it prohibits her or disqualifies for the loan?

 

Though my wife works she does not make any contribution to my daugthers school fund. I am the only one whos has to pay for it. I dont mind at all. I want to make sure there are options available to help with my cash flow situation.

 

Last year I paid about 40k from my pocket and I would assume it would be the same again this year. I dont mind paying for it, I just wnat to make sure my cash flow situation does not make negative impact for financing her education.

 

Any advice and suggestions for me?

Unpaid Tuition…

Feb 232011
 

Hi again all,

 

This year I really want to make a vested effort to remove the financial and emotional stress placed upon myself for actions I did at my youth, and I’d very much appreciate your input.

 

In the Fall of 2008 I enrolled in a university, after attending for a short time an unfortunate and detrimental event occured that caused me to lose a sense of reality and the obligations required of myself.  Now I look back at that event and the damage it has caused.

 

I have a debt of tution for the university that has since been placed into collections, the name of the company creates the apperance that it is a law firm, but they are considered a “educational debt recovery” company.

 

They’ve made contact with me, but from my own research they have not reported this debt to any credit bureau.  On top of the debt they have placed a “collection fee” for the services rendered with assumingly an agreement they have with the university.

 

I want them to take the consideration that I truly want to make the effort to correct this mistake, but want to see if it’s possible to receive some type of benefit for ensuring satisfaction of the debt. I know I am not owed anything, but am curious what y’alls opinions are.

 

I want to offer them the exact amount of tuition owed to the university, not including the amount they have placed on top of the debt.  But was wondering if it is a possibility to include an agreement that would allow for the “Retroactive Registration” of the semester to which this occured.  I cannot continue my education without first resolving this.  And if questioning, I am requesting the “Retroactive Registration” for my failure to drop the courses.

 

Again, I thank you for reading this and for any insight or opinion that can be provided.

GATE Student Loan

Feb 012011
 

Hello, I’m new to posting on FICO Forums and I would first like to comment that these boards are a wealth of information and we are all grateful to have them.

 

Getting to my inquiry, I was hoping that someone on this board can shed some light on my predicament. In 2003/2004 I took out two loans through the GATE Program at college. Alas, I was put in a bad financial situation, dropped out of school, and more or less forced myself to forget about the loans. As the story seems to go I find myself now trying to rebuild my credit. My problem is that I have not been able to locate who is servicing this loan. It has been defaulted for quite a while so rehabilitation with the original creditor is not an option. The gaurantor was National Collegiate Trust who referred me to First Marblehead who then referred me to OSI Education Services which coincidently is now owned by the infamous NCO Financial. When I finally get to NCO they cannot find said loans and refer me to the National Loan Locator through the Department of Education. The only problem with this is that the loans are private student loans so they would not show up in a national database as they are not gauranteed by the govt. It seems that my loans have been transferred a mimimum of 3 times with no one knowing precisely where they are. My credit report only shows the initial chargeoff through National Collegiate Trust with no evidence of where it was sent to. I need to start some sort of payment on these loans to appease my “potential” mortgage lenders as I am trying to get approved for a new home loan. Is there anyone out there who has defaulted on GATE student loans and if so have you had the same frustrating experience that I have had.

 

Any help is so greatly appreciated; Thank You in advance.

 

Steve

My process on Rehabilitation with my defaulted school loans

Jan 292011
 

I’m brand spanking new to this forum and I have to say, its freaking amazing. It’s comforting to know that I’m not alone on the issue of trying to fix/rebuild my credit. Well, here’s my 2cents on the Rehabilitation Program for defaulted school loans. Any advise, tips or comments to help me on my situation is more then welcomed as well.


Back in June of 2008 I went into default with USA Funds, Inc. who was my creditor for my school loan. I entered to do a Rehab program with General Revenue Corporation (GRC) and completed it with no problem. 2 months later, my defaults with USA Funds were deleted off my credit record BUT my prior negative reports with Sallie Mae, before USA Funds took over, were still showing delinquencies. So I contacted Sallie Mae, their response was, “WE CANNOT DELETE ANY NEGATIVE/DELINQUENCIES PRIOR TO YOUR DEFAULT DUE TO SALLIE MAE’S POLICY BUT YOUR DEFAULT STATUS WERE DELETED.” Which then got me REALLY confused and feeling cheated because before I agreed to do the Rehab, I was told by GRC, that my default AND my negative/delinquencies prior to default were GOING to be deleted and brought up to a clean, paid on time records.


So I called Sallie Mae and requested a letter that states my completion of the Rehab Program and as soon as the letter arrived the letter stated this:


Dear **********,


Sallie Mae, Inc. is a servicer of student loans for national and state guarantee agencies.  We are pleased to inform you that you have successfully completed your rehabilitation program as of 06/24/2010. Your education loan(s) listed below was purchased by the lender and is no longer in default.


The guarantor, United Student Aid Funds, Inc., will notify the national credit bureaus to delete the defaulted status. As a result of your rehabilitation, the lender/servicer that maintained the loan(s) prior to this default will be notified. It will be their responsibility to correct any adverse credit reporting that they may have made.

 

The letter quotes, “The guarantor, United Student Aid Funds, Inc., will notify the national credit bureaus to delete the defaulted status.” which USA FUNDS, Inc, held their side of the bargain and deleted them asap! BUT this portion of the letter, quotes, “As a result of your rehabilitation, the lender/servicer that maintained the loan(s) prior to this default will be notified. It will be their responsibility to correct any adverse credit reporting that they may have made.” Now, is it not Sallie Mae’s responsibility to fix my past adverse (negative/delinquencies) reporting as the letter from USA Funds, Inc., Quotes? Sallie Mae were my original school loan creditor before transferring over to USA Funds, Inc. 

 

So I did some research and found this:

 

“Because the statute specifically refers to a stream of 12 payments as determined by the institution, the institution must work with the borrower to determine a payment amount that is appropriate. The statute does not require a signed rehabilitation agreement. In accordance with the 1998 Amendments, once the loan is rehabilitated (after the 12th payment has been made), the institution or its servicer must request that any credit bureau to which the defaulted loan was reported remove the default from the borrower’s credit history.  The borrower is brought current and is no longer considered to be delinquent or in default. Removing the default is consistent with the requirements of the Fair Credit Reporting Act (FCRA), which requires that an institution correct and update the information it furnishes to a credit reporting agency.”

 

- The Higher Education Act

 Section 674.39 Loan Rehabilitation

 

For full article of the law that states this claim, Google the above source, as I lost the link to the site. Sorry :(


So, in your guys opinion, does it seem like Sallie Mae is obligated to make the changes to my credit report? and I have the upper hand? If so, how should I approach this to where they can’t argue back and fix the issues.


I hope what I provided is of some help to others in a similar situation and if I find out anything else, ill be sure to post it up here for everyone.


Any advise, legal advise, tips or comments will be greatly appreciated. Thanks :)

Rehabing federal student loans

Jan 262011
 

I know this question has been asked before and I’ve read these boards up and down, but I’m afraid I still don’t exactly understand how this works. So here is my question. I had several stafford loans through the North Carolina State Education Assistance Authority. I defaulted and I was in default status for over 3 years. I recently entered a rehab program. After nine months I will be rehabed through the collection agency (DCS) and then my loans will go back to the North Carolina State Education Assistance Authority. I don’t have to find a new lender like some. NC takes them back if they are rehabed.

 

Question is. What happens to my credit report? The default status goes away, but what about all the years of late/no payments. Do they still show? The loans aren’t going to a new bank/lender like some people’s. They are going back to the original lender. What will my credit report look like? I know it will be better, but how much?

 

After I’m rehabed, I plan to make the required amount of on time payments and then consolidate. I have no idea if that will help my credit, but the lower payment will help me? Thoughts? Suggestions?

 

The rehab payment is steep, but I’m looking forward to putting this behind me and starting over. I’ve worked hard on my credit and these defaulted student loans and one credit card late payment in 2008 are my only blemishes left. I have removed errors and goodwilled all kinds off crap off my credit report.

 

Thanks for any insight or advice.

 

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