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...
What if you don’t qualify for the Navient settlement? If you are not part of the beneficiaries, you may still have access to more limited options. You have the option of other programs such as Borrower Protection for Repayment and PSLF that are available only for federal student loans. Pr...
Those loans were made by private lenders but backed by the federal government. Lins said there are plenty of people who still have these loans even though they’re no longer issued. Do they qualify for student loan relief under Biden’s plan? It depends. When the FFEL program ended,...
Those loans were made by private lenders but backed by the federal government. Lins said there are plenty of people who still have these loans even though they’re no longer issued. Do they qualify for student loan relief under Biden’s plan? It depends. When the FFEL program ended,...
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. ...
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...
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. ...
IS REFINANCING YOUR PRIVATE STUDENT LOANS WORTH IT? 2. See if you qualify for other federal protection measures Federal borrowers who are having trouble making their monthly payments could consider applying for federal student loan forbearance. You may be able to suspend your student loan payment...
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 ...