Tax Stimulus Question: Student Loans looking for someone who has dealt with this issue?

Question

I have student loans, but they aren't "outstanding." as I make regular payments on them, however there is a balance. The loans are definitely not in default. I am also not currently in school. I cannot find a clear answer as to if I am eligible to receive the check or if it will automatically be applied to my balance. If any of you are in my situation and already received your payment please let me know how it worked, or If anyone can provide more info than the vague Government websites your help would be appreciated.

Answer 1

When applying for student loans, the borrower should realize the following basic attributes of the prospect loan such as the procedures, legal dynamics and basic attributes of the finance company or the loan itself. Interest rates, payment options, incentives and origination fees should be understood by the borrower very well.

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However, financing companies deem students as high - risk costumers since the students does not have definite source of income to repay the debt. Some companies will require the student to furnish documents that will serve as proof or evidences that the student applying for the loan is capable to repay the debt. This is what we call credit history.