There are two main types of student loans: federal loans and private loans. Federal loans generally offer more favorable terms and benefits, such as fixed interest rates, income-driven repayment plans, and forgiveness options. Private loans, on the other hand, are offered by banks, credit unions...
In any case, I was notified last summer that my loans from 1994 (the loans I hadn’t consolidated) were forgiven on the grounds that I had reached 25 years of qualifying periods of payment/forebearance/deferment. If my 1994 loans reached 25 years of qualifying periods, then I think that...
Truist (formerly SunTrust and BB&T banks) Truist instituted a number of relief measures: Offers payment relief assistance for clients on consumer loans, personal credit cards, business credit cards and business loans Will temporarily waive ATM surcharge fees Will offer 5% cash back for qualifying ...
If you reach your borrowing limits for subsidized and unsubsidized student loans, then you may want to consider private lenders, which include state-based and nonprofit banks and credit unions. Always compare several options, ask about any borrower benefits the lender ...
hand. Maybe they claim they can get you access to special repayment plans or debt forgiveness options. Or they may just say something vague like “you are eligible” or “you qualify.” Either way, they want you to reach out to them so they can help you get rid of your student loans...
largely funded by parental sacrifices and by student loans, which are a mix of taxpayers funds when the loans default and students’ future sacrifices when the loans don’t default. The vision of a pile of student loans for years to come act as a discouragement to students wh...
As COVID-19 spreads, here is some advice on what to do while the interest rate on federal student loans is temporarily zero.
Private Student Loans:Private student loans are offered by private lenders such as banks, credit unions, and online lenders. These loans are not guaranteed or subsidized by the government, and their terms and conditions vary depending on the lender. Private student loans can be used to cover edu...
Peer-to-peer lending brings investors directly to consumers who are looking to borrow. Traditional personal loans come from institutions like banks, credit unions or online lenders. Peer-to-peer lending, in contrast, involves borrowing money from a person or company that invests in your loan. ...
private loans often rely on the income and credit rating of the student's parents rather than the student themselves—but it is the student who is responsible