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What's a Stafford Loan? Why is the FAFSA important? Learn the basics about student loans and repayment options by searching for your answer.
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While both federal student loans and private student loans allow you to borrow money to pay for education expenses, there are some distinct differences. Federal student loans can be better for students in several important ways: In some cases, the ...
Unless you arrange for a different repayment schedule with your loan servicer, the standard repayment schedule is 120 months (10 years). Your servicer can tell you about programs that allow you to extend your repayment term. Extending the term of ...
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 ...
Income-based repayment (IBR) is a program that allows you to limit the amount you must repay each month based on your income. You get a lower payment with IBR if your federal student loan debt is high relative to your ...
If you default on a federal student loan, a third-party collection agency may attempt to locate you and collect payments from you. Generally speaking, you have three options when dealing with the collector on a federal student loan: 1. Rehabilitation. Rehabilitation means ...
A school’s financial aid office assists you and your family by providing information on ways to pay for education. The financial aid office is usually involved with you after the school has made you an offer of admission. You can ...
You should borrow only what your future earnings will allow you to repay. In general, try not to borrow more for all four (or more years) of college than you expect to earn as a starting annual salary when you ...
Stafford loans are a type of federal student loan. Stafford loans are either subsidized – the government pays the interest while you're in school – or unsubsidized – you pay all the interest, although most students will not start making ...
Perkins loans are a type of federal student loan that is awarded to undergraduate and graduate students based on financial need. This is a campus-based loan program: the school acts as the lender using funds provided by the federal government. ...
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. ...
