Federal Versus Private Loans | Federal Student Aid

Federal student loans: These loans are funded by the federal government.

Private student loans: These loans are nonfederal loans, made by a

lender

such as a bank, credit union, state agency, or a school.

If you need to borrow money to pay for college or career school, start with federal student loans.

Federal student loans are:

What are the differences between federal and private student...

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Loan Consolidation | Federal Student Aid

A Direct Consolidation Loan has a fixed interest rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%. There is no cap on the interest rate of a Direct Consolidation Loan.

When do I begin repayment?

Repayment of a Direct Consolidation Loan can begin 60 days after the loan is disbursed, or sooner. Your loan servicer will let you know when the first payment is due. The repayment term ranges from 10 to 30 years, depending on the amount of your consolidation loan, your other education loan debt, and the...

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Date: 2017-02-28 05:43:16

Related topics : direct loan consolidation interest rates / direct loan servicing consolidation / direct loan consolidation application / debt consolidation loan interest rates / loan consolidation direct loans

Forgiveness, Cancellation, and Discharge | Federal Student Aid

Home » How to Repay Your Loans » Forgiveness, Cancellation, and Discharge

In certain situations, you can have your federal student loan forgiven, canceled, or discharged.

Find out whether you qualify due to your job, disability, the closure of your school, or other circumstances.

Forgiveness, Cancellation, and Discharge

When can my federal student loans be forgiven, canceled, or...

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Related topics : student loan programs for repayment / federal loan stafford / student loan forgiveness public service / federal student loan / direct loan servicing payment

Subsidized and Unsubsidized Loans - Federal Student Aid

Direct Subsidized Loans and Direct Unsubsidized Loans. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.)

What's the difference between Direct Subsidized Loans and Direct Unsubsidized Loans?

In short, Direct Subsidized Loans have slightly better terms to help out students with

financial need

Here's a quick overview of Direct Subsidized Loans:

Direct Subsidized Loans...

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Date: 2017-02-28 02:39:22

Related topics : direct loan subsidized / direct student loan / subsidized loan or unsubsidized which is better / loan subsidized and unsubsidized / loan direct

Public Service Loan Forgiveness | Federal Student Aid

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Your 120 qualifying monthly payments do not need to be consecutive.

If you make a monthly payment for more than the amount you are required to pay, you should keep in mind that you can receive credit for only one payment per month, no matter how much you pay. You can't qualify for PSLF faster by making larger payments. However, if you do want to pay more than your required monthly...

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Related topics : student loan forgiveness public service / federal student loan / student loan servicing / direct loan servicing payment / education loan services