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Can you borrow against an outstanding loan?

Daniel King

in Student Loans

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Chelsea Hayes on September 23, 2018

Response . No ... because you have no collateral to borrow against. If you are a homeowner, and have accumulated a good amount of capital from the years of making payments, you could borrow against that. Lenders require some type of assurance that, in the event that you decide not to pay, that he would have legal recourse to collect the money that is owed them.


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