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 [...]
Posts Tagged ‘repay student loans,’
There are some loans are ineligible for consolidation
Although most education loans are eligible for consolidation into a Direct Consolidation Loan. There are some private loans that are always ineligible for consolidation. So before you take out any student loans, consider your options and study all fine prints. It’s easy and tempting to get the loans before you enter the programs and thinking [...]
Some federal education loans are eligible for consolidation into a Direct Consolidation Loan
If you have several student loans and are overwhelmed by the payment, you need to consider the option of consolidating. If you have a federal education loan, you can consolidate it into a Direct Consolidation Loan. The subsidized loans that can be consolidated are: Subsidized Federal Stafford Loans Direct Subsidized Loans Subsidized Federal Consolidation Loans [...]
There are some student loans you can’t consolidate
This is the perfect time to consolidate your student loans. The rates are low and you won’t see this kind of rates once the economy starts growing again. While most federal education loans are eligible for consolidation into a direct consolidation loan including subsidized loans and unsubsidized loans. There are a few exceptions that some [...]
You have the Borrower Grace Periods no matter what the lender says
You are graduating, or you have graduated for 3 moths and yet there’s no sign of a full time job. You’re still hunting for that job and you’re losing sleep over the upcoming payment of your student loans. You are worried that someone from the lender will call you soon and you will receive a [...]
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 [...]
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 [...]
The Direct Consolidation Loan Program offers four repayment plans
The Direct Consolidation Loan Program offers four repayment plans with various term selections: Standard Repayment Plan – Under this plan, you will pay a fixed amount of at least $50 each month for up to 10 to 30 years, based on your total education indebtedness. This plan may result in lower total interest paid when [...]
What you need to know about repaying student loans
After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. This “grace period” will be * six months for a Federal (FFEL) or Direct Stafford Loan. * nine months for Federal Perkins Loans The repayment period for all PLUS loans begins on the [...]
Repaying Defaulted Student Loans Held By a Guaranty Agency
Under the Federal Family Education Loan (FFEL) Program, after your student loan is placed in default by the holder of the loan, an insurance claim for the amount of the loan is paid by the guaranty agency (the organization that administers the FFEL Program for your state) to the holder of the loan. To find [...]