FFELP student loans were discontinued in July 2010, but millions of borrowers are still repaying them.Many, or all, of the products featured on this page are from our advertising partners who compensate us when
The U.S. Department of Education offers students several federal loan options to help pay for college. These loans are designed specifically for students.
It's important to note that when your loans are in forbearance or deferment, you aren't making progress toward student loan forgiveness.12 The idea is that you might be able to see a pause or a reduction in your student loan payments if you're struggling to pay the full amount.3It's ...
What are the different types of 529 plans? Sponsored by states, state agencies, or educational institutions, there are two types of 529 plans to choose from: 529 savings plan: This 529 plan allows families to set aside funds for future college costs. It works much like an IRA, allowing th...
What Are the Different Income-Driven Repayment Plans? There is no clear winner among the various repayment plans, experts say, since the right option is based on a borrower's financial circumstances. "The ideal plan will depend on when you borrowed your first loa...
Payments under standard repayment are larger than under other plans that extend your repayment term. But you’ll pay the least interest and finish repayment the fastest using standard repayment. » MORE: Student loan repayment options: Find the best plan for you If standard payments are ...
Graduated repayment plans for consolidated and nonconsolidated student loans are different. Federal student loan holders can choose from several repayment options, including standard and graduated repayment plans. Unlike the standard repayment plan, which has fixed payments, the graduated repayment plan be...
There are four types of federal student loans, including those for dependents, parents helping children enrolled in school, and borrowers consolidating their debts.
How are federal and private loans different? Federal student loans generally have more favorable terms. They offer forgiveness, cancellation and discharge alternatives in addition to the recentplan announced by the Biden administration. Private loans can fill a gap when public loans, scholarships, fello...
With such high costs, many students must turn to private student loans, which are offered by private institutions like banks and online lenders. Understanding their pros and cons, and the differenttypes of private student loanscan help you decide whether they’re the best financing option for you...