You can ask your bank to withdraw money from your account if you get into trouble.
But if you’re worried you might lose it, you can also ask your lender to get you a new loan.
“The best way to get a loan is to ask for it and you should do it every time,” says Lisa Crenshaw, a financial planner with Aon Hewitt in Phoenix.
“If you don’t ask, it’s likely the lender won’t accept it.”
If you don, you might get a negative rate.
If you’re a student who doesn’t have a parent or guardian with the means to repay the loan, you should apply to a loan servicer to get it.
This is usually done by calling the company and asking to be referred to a special line.
If your loan is a federal Stafford loan, your lender must agree to take it.
You’ll also need to get permission from your lender, or the lender will not take the loan.
If the loan is for a home, it can only be taken from a person who lives in the home, according to the American Homeowner Mortgage Bankers Association.