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Many colleges and universities outsource their student loans to ACS (Affiliated Computer Services). An ACS student loan can allow you to borrow enough money to finish a degree at a college or university.
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∙ 12y ago
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Is ACS a useful tools for student loans?
Yes, ACS is a useful tool for student loans. Every student's situation is different, but ACS offers student loans as well as consolidation options for those who have existing student loans, often simplifying the loan process for borrowers.
Does ACS offer student loan consolidation?
ACS does not offer student loan consolidation anymore since July 2010. All consolidations should be made through the Direct Loan Program. You can find other useful information on Federal Direct Consolidation Loan website.
What features can be accessed 24 hours of the day if registering a student loan account with ACS?
The Department's new Direct Loan servicing website can be accessed 24 hours a day if registering a student loan account with ACS. Information about loan status, application, and required documents are available after logging in.
Does ACS offer student loan deferment?
"ACS does offer student loan deferments. They also offer forbearance for a variety of reasons. You will have to qualify for deferment, sometimes forbearance is easier to qualify for. reasons may include being a full-time student or financial hardship."
What are the benefits of student loan consolidation?
Some of the benefits of student loan consolidation is the opportunity to lower the interest rates and pay all the bills each month with one payment.
When having a student loan does the government stop paying you your child care benefits?
If you are in default on a student loan, any payments due to you from the government may be withheld and applied to the loan.
Can social security take your check if you are a co-signer on a student loan?
If you are on social security you should not be cosigning on a student loan. You would be guaranteeing that if the student doesn't pay off the loan you will. The federal government can garnish your social security benefits to recover student loan payments.
What is the purpose of direct loan?
A direct loan is a student loan that is made to the student directly by the federal government, which then subsidizes the interest on the loan while the student is in school. A direct loan is not a consolidation loan, neither for student loans or for people who have general debt. Direct loans are made to those who are determined eligible based on need, which is determined by FAFSA (www.fafsa.ed.gov). Keep in mind that student loans, once consolidated, are no longer "student loans" and as such are no longer eligible for any of the benefits of a student loan.
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
What are the benefits of having a fixed rate student loan?
The biggest benefit of having a fixed rate student loan is quite simple. The intrest rate you were given at the start of the loan is locked in; meaning the interest rate will not increase during the loan period.
Are direct loans a smart choice?
A direct loan is a student loan that is made to the student directly by the federal government. There is no secondary lender in the middle of the transaction. A direct loan is not a consolidation loan, neither for student loans or for people who have general debt. Direct loans are made to those who are determined eligible based on need, which is determined by FAFSA (www.fafsa.ed.gov). Keep in mind that student loans, once consolidated, are no longer "student loans" and as such are no longer eligible for any of the benefits of a student loan.
What is the different between a parent loan and a student loan?
Parent Loan: A parent is getting the loan Student loan: A student is getting the loan
