A non-qualified student loan is a loan that is offered by a school that does not offer federal loans. This can be due to the fact that they are not accredited by Title IV by the Department of Education. What Are The Four Types Of Student Loans?
With federal student loans, your loan is usually considered in default when you don’t make your scheduled payments for 270 days. One exception is Perkins Loans, which can be considered default if you miss a single payment. With private student loans, you are usually considered in default afte...
A credit-builder loan can help people with little or no credit history build credit by making on-time payments. It can also help boost savings. Learn how credit-builder loans work.
Loan forgivenessmeans a debt (or part of a debt) is eliminated or canceled—relieving the borrower of the obligation to repay it. Although any student loan can theoretically be forgiven, student loan forgiveness (also known as cancellation) generally applies to U.S. government-issued or governmen...
For most student loan borrowers, a good interest rate is one that is between 2% and 4%. However, many other circumstances need to be considered. Written By: Michael P. Lux, Esq. Last Updated: August 12, 2021 Affiliate Disclosure and Integrity Pledge After nearly a decade of writing about...
A 529 plan is one option for your college savings plan. Learn about their benefits, how they affect financial aid, and who can contribute with Discover Student Loans.
Once your application is received, your loan holder will make a determination based on your situation. You should also let Nelnet, a student loan servicer that assists the Department of Education in administering the TPD discharge process, know that you want to apply. That way, any required ...
Example of a Full-Time Student The technical definition of what the government views as a full-time student can be broad. For example, a child under the age of 19 who attends an educational program for at least five months per calendar year is considered a full-time student. Additionally,...
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Deferment is considered a temporary measure. If you need a long-term lower payment, then an income-driven repayment (IDR) plan may make more sense. Will I be able to restart payments on my student loans soon? If you can, deferment may be a good way to get over a temporary financial ...