(855) 411-2372
An official website of the United States Government
What's a Stafford Loan? Why is the FAFSA important? Learn the basics about student loans and repayment options by searching for your answer.
Sort by: most helpful | most viewed | recently updated
Generally, any payment made on a student loan will be applied first to any fees that are due (late fees, phone payment fees, etc.). Next, remaining money from your payment will be applied to any interest due, including past due ...
There are two types of PLUS loans: the Parent PLUS loan and the Grad PLUS loan. All PLUS loans have a fixed interest rate of 7.9 percent and are not subsidized, which means that interest accrues while enrolled in school. ...
When you consolidate your federal student loans, you are actually taking a new loan called a federal direct consolidation loan. This new loan combines several federal student or parent loans into one larger loan, which replaces your original federal student ...
For subsidized federal student loans, interest is paid on your behalf by the U.S. government while you’re in school. For most other loans, interest accrues on a monthly or quarterly basis. That interest is then “capitalized,” meaning that it is ...
A deferment is a temporary pause to your student loan payments for specific situations such as active duty military service and reenrollment in school. You can receive a deferment on Federal student loans for certain defined periods. The U.S. Department ...
Forbearance is a temporary postponement or reduction of your student loan payments for a period of time because you are experiencing financial difficulty. You can receive forbearance if you’re not eligible for a deferment. With forbearance, you will eventually owe ...
Private student loans may or may not have a forbearance option, and the rules vary among lenders. Under forbearance you will eventually owe the new interest charges even if you’re not making payments. You have to apply to your loan ...
If you have more than $30,000 in federal student loans, you are generally able to extend your repayment term from 10 years to 25 years. If you extend the term of your loan, you will pay substantially more interest over ...
