Direct PLUS Loans are unsubsidized loans available to graduate/ professional students to help pay for educational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. For the past 3 years, many young people who are unable to find jobs or find jobs that are in the [...]
Posts under ‘Student Loans’
What is Master Promissory Note (MPN)?
The student loans and processes have been getting more complicated. Most of us don’t know what MPN. It stands for Master promissory Note. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). There are two types of MPNs [...]
Make sure you make your student loan payment on time
Just like mortgage payments, student loan repayments need to be on time also. Your loan servicer will provide information about repayment and will notify you of the date loan repayment begins. In most cases, your loan payment will be monthly. It is very important that you make your loan payment on time every month. You [...]
Student Direct Loans are better options for you
If you are thinking about taking out student loans, look into the option of Direct Loans. Unlike private student loans, the lender of student direct loans is the U.S. Department of Education instead of a bank or other financial institution. These loans usually have lower rates.You borrow directly from the federal government and only need [...]
Repaying a Grant Overpayment Debt
Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Academic Competitiveness Grants and National Science and Mathematics Access to Retain Talent Grant (National SMART Grants). Once a school notifies you that you must repay part of a grant, you will have 45 days to either pay that portion of the grant back in full or [...]
Why You May Have to Repay Part of a Grant
Unlike loans, grants do not usually have to be repaid. However, there are two reasons why you may have to repay part of a Federal grant: 1) The amount given to you was more than you were eligible to receive (this is called an over-award). This can happen if the school makes an error when [...]
Consolidate Private Student Loans
By Michael Wai W Just to let you know, you are not the only graduate who has to deal with multiple private student loans. It is difficult to manage your financial condition with multiple loans on your back and other expenses to take care of. How can you remedy the situation? Have you ever thought [...]
Bankruptcy and a Federal Student Loan
By Richard Shelmerdine If you are looking for information on bankruptcy and a federal student loan then you have come to the right place. You may feel that your federal student loan is making your financial life hell at the moment but it does not have to be like that. Bankruptcy is and should always [...]
Refinance Your Student Loans
Article by: Sarah Russell If you’ve recently graduated from college, you’ve probably been bombarded with mailings and advertisements urging you to refinance (or consolidate) your student loans right away. But wait, what is loan consolidation? And why should you do it? If you’ve just graduated from college, you’ve probably got a number of different student [...]
Student Loan Cancellation & Discharge
All loans received under programs authorized by Title IV, of the Higher Education Act can be canceled for several different circumstances including: (1) in the event of your death; or (2) if you become totally and permanently disabled after the loan is disbursed. In addition, some loan types may qualify for loan discharge under a [...]