The following federal education loans are eligible for consolidation into a Direct Consolidation Loan: Direct Subsidized and Unsubsidized Loans Federal Subsidized and Unsubsidized Stafford Loans Direct PLUS Loans and Federal PLUS Loans Direct Consolidation Loans and Federal Consolidation Loans Guaranteed Student Loans Federal Insured Student Loans Supplemental Loans for Students Auxiliary Loans to Assist Students [...]
Posts under ‘Student Loans’
Your student loan may be discharged (forgiven) if you become totally and permanently disabled
* Your student loan may be discharged (forgiven) if you become totally and permanently disabled. If a physician (doctor of medicine or osteopathy) certified that you are totally and permanently disabled and you meet other requirements during a 3 year conditional discharge period your loan(s) may be discharged. It is important to note that: You [...]
What is Federal Pell Grant?
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor’s or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a [...]
What are Health Professions Loans?
Loan programs authorized by the Public Health Services Act and administered by the U.S. Department of Health and Human Services (HHS) rather than the U.S. Department of Education. Although health professions loans can be included in consolidation loans, borrowers should be aware of the advantages and disadvantages of consolidating these loan types because of the [...]
Does a bankruptcy discharge relieve an individual of his obligation to repay a student loan?
Whether a bankruptcy discharge relieves an individual of his or her obligation to repay a student loan or grant overpayment is now determined by whether a court has ruled that repayment would impose an undue hardship on the borrower and his or her dependents. If the bankruptcy was filed on or after October 8, 1998, [...]