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How do I get back into repayment from default?
July 19, 2013
by Temp Author
Beginning in late 2022 and through the end of 2023, borrowers with eligible defaulted loans can remove their loans from default through a temporary, streamlined process called “Fresh Start.” For eligible […]
Continue Reading →Does interest accumulate during deferment and grace periods?
July 19, 2013
by Temp Author
For subsidized federal loans, no. For unsubsidized loans, yes. However, this grace period “interest subsidy” was eliminated for Direct subsidized loans made on or after July 1, 2012 and before July 1, 2014.
Continue Reading →Is it a good idea to get a private consolidation loan?
July 19, 2013
by Temp Author
Consolidating private loans into a private consolidation loan may be a good idea if you think you can get a better deal. However, it is very dangerous to consolidate federal […]
Continue Reading →What are the terms and conditions of Stafford loans?
June 30, 2013
by Temp Author
Stafford loans are for undergraduates, graduate and professional students attending school at least half-time. The fixed interest rate for undergraduate Stafford loans first disbursed on or after July 1, 2019 and before […]
Continue Reading →New Look to Website, IBR, and Disability Discharge
June 29, 2013
We changed the look and expanded the Student Loan Borrower Assistance web site this week. We hope you find it easier to use. As of July 1, there are a […]
Continue Reading →Student Loan Debt Relief and Tax Preparation–There’s No Comparison
June 28, 2013
In response to the report we released on student loan debt relief last week, some companies have responded by saying that they are comparable to organizations that help taxpayers file their returns–something […]
Continue Reading →Can collection fees be added to my loan balance?
June 19, 2013
by Temp Author
Yes, but there are limits on how much government lenders can charge you. The amount of private loan collection fees must be described in the loan contract.
Continue Reading →Can I get my student loans canceled if I pay for a certain period of time even if I do not work in a public service job?
June 19, 2013
by Temp Author
Yes. The government will cancel any remaining balance on your federal student loans if you make payments for a certain amount of time through an income-driven repayment plan (IDR). Under […]
Continue Reading →What are the differences between rehabilitation and consolidation for federal student loans?
June 19, 2013
by Temp Author
Rehabilitation requires that you make nine reasonable and affordable payments in a ten month period. You can get out of default faster through the Direct Loan consolidation program. There are pros […]
Continue Reading →More Updates & News
Important Note: On June 24, 2024, two court decisions temporarily blocked parts of the SAVE Plan from taking effect. These decisions may change borrowers’ rights and access to certain benefits, including repayment plans. We will update this website with more details on how this will impact borrowers soon. Visit here for more information.
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