Parents who take outdirect PLUS loanson behalf of dependent students can’t consolidate these with other federal loans that the student—not the parent—received. Under certain conditions, FFEL consolidation loans and direct consolidation loans can also qualify for further consolidation.2 Consolidating ...
Many of the loans forgiven are a result of Biden’s SAVE Plan, which is designed to help borrowers better afford their payments. Currently, 7.5 million borrowers are enrolled in the plan. Of those borrowers, 4.3 million have $0 payments. If you have private student loans, unfortunately, feder...
The complete application can be filled out online. Before you begin, you’ll first need to create a Federal Student Aid ID (FSA ID). And if you’re a dependent student borrower, your parent or guardian will also need to create one. These allow you to “sign” the online documents. Onc...
for the loan borrowed back in 2007 and apply it to your graduate loans. This borrower would only need to make two more years of payments to reach PSLF and have all of their federal student loans forgiven. Those graduate loans will receive extra credit due to those earlier undergrad loans. ...
This Independence Day, it’s imperative that we (the sane, ethical majority) work to eliminate the current, imminent threat facing us before we go back to our petty bickering about what’s a fair tax rate for the wealthy, whether student loans should be forgiven, and how to get inflation...
When you have lots of student debt,building up an emergency fund may seem like a luxury, but in reality, it is a necessity. Having money set aside for your federal loans doesn’t mean you must use it for your federal loans. For the borrowers who lack self-control, this can be a sig...
FedLoan Servicing wasrecently suedfor allegedly preventing public servants from having their student loans forgiven or reduced under the Public Service Loan Forgiveness (PSLF) program. The servicer said that federal loan programs "have grown increasingly complex and challenging while the cost to service...
If your parent dies, your parent’s PLUS loan will be discharged. If a person on behalf of whom a parent obtained a PLUS loan dies, the loan is cancelled. This is not necessarily the case with private student loans. Whether or not a private lender has a policy of loan forgiveness upon...
I have about $50k in student loans. I thought my parents were paying on them or at least I thought they would at least help me out with them since it was their idea for me to go to college. Currently I’m spending half my income on these loans & it’s a major headache & problem...