Private student loans require a credit check to qualify, and a co-signer is sometimes needed if the borrower doesn't have good credit or hasn't established a score yet. Co-signers assume responsibility for paying back the debt if the original borrower can't. So if you take out a private...
Students must meet certain requirements to qualify for any type of federal student aid, including grants, work-study programs and loans. According to the DOE, a student must: be a U.S. citizen or an eligible noncitizen. have a valid Social Security number. be enrolled in an eligible progra...
They do not qualify for forgiveness under the new plan, and there’s no way to transfer private loans to the Department of Education. Private loan borrowers must deal directly with their lenders to discuss payment and refinancing options. Parent PLUS loan forgiveness Parent PLUS loans are l...
Public servants who don't qualify for PSLF should look upstudent loan forgivenessprograms based on their occupation. For example, theTeacher Loan Forgiveness Programoffers up to $17,500 worth of loan forgiveness for teachers who work full-time at a low-income school for five years. IS REFI...
Another big change was the “limited waiver,” which expired on Halloween 2022. Basically, if you had non-direct (FFEL, Perkins loans, Grad Plus loans made to the student, etc.) loans that did not previously qualify for PSLF, the waiver allowed you to do so (but only if you consolidat...
They do not qualify for forgiveness under the new plan, and there’s no way to transfer private loans to the Department of Education. Private loan borrowers must deal directly with their lenders to discuss payment and refinancing options. Parent PLUS loan forgiveness Parent PLUS loans are ...
You have to qualify.In order to qualify for an IDR plan, you’ll need to be a federal student loan borrower; private loans aren’t eligible. Additionally, your family size and income will be used to determine whether or not an IDR plan is an option for your loan repayment. ...
They can have up to $17,500 in federal direct or Stafford loans forgiven. To qualify, teachers must have taken out loans after Oct. 1, 1998. Teachers can also qualify for PSLF or Perkins loan cancellation. Student loan forgiveness for nurses Nurses have several student loan forgiveness ...