What is student loan default? What happens if I default on my student loans? How do I get my student loans out of default? Avoiding student loan default Frequently asked questions Key takeaways A defaulted student loan happens when the borrower does not make payments on their student...
Avoiding student loan default Once you have taken steps to get your student loans out of default, it’s important to avoid making the same mistakes again. Your best move is making sure that you have a monthly payment that you can afford without financial hardship. ...
A subsidized student loan is often made available to students who demonstrate financial need through their FAFSA. As long as the borrower is a half-time student, the US Department of Education will pay the loan interest. The government will also cover the interest payments for the first six mo...
There are times when the federal government requires your lender to grant forbearance. This is known as mandatory forbearance. You might qualify for this if you are serving in a medical or dental internship or residency program, the total you owe in student loan payments is more than 20% of...
Will student loan payments be deferred again? Is there a limit to how many times I can defer my student loans? How do I know if I have a federal or private student loan? Student loan deferment in a nutshell It may be difficult to make the monthly student loan payments, especially when...
We’ll talk about what is a qualified loan and what may not qualify as one. Getting the best education possible is something you’ve been considering for a while. Yet, you need financial aid to pay for the tuition. A student loan can help, of course. But you must be prepared to ...
Disbursement is one of the last steps of the financial aid process. Continue reading to learn more.
What is a student loan guarantor? Loans: Loans refer to money given out by a financial institution like a bank to borrowers. However, for a financial institution to give out a loan, the borrower should meet certain conditions. For example, the borrower must earn an income capable of repayin...
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...
How to Pay Off Your Student Loans What Is Student Loan Deferment? Astudent loandeferment lets qualified applicants stop making payments on their loans or reduce their payments for up to three years. No interest accrues on federally subsidized loans during the deferment period because the government...