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 [...]
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Once you leave or graduate your school, you have 6 months grace period
Did you know that when you leave school which includes graduating, withdrawing, or dropping below half-time attendance, you have 6 months of grace period before you have to make student loan payments. This applies to direct subsidized and unsubsidized loans. But be very careful with one scenario: There’s no second grace period. If you have [...]
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 [...]
Total Education Indebtedness
Total Education Indebtedness is the sum of a Direct Consolidation Loan, and other eligible education indebtedness, up to an amount equal to the Direct Consolidation Loan. Total Education Indebtedness is used to calculate the number of payments under the Standard and Graduated Repayment Plans.
Student Loan Status
The present state of your Subsidized, Unsubsidized, PLUS, or Consolidation loan(s). An account will be either: in-School in-Military grace repayment-current repayment-delinquent deferment forbearance paid-in-full suspended default