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That usually refers to the 6 or 9 month period following separation from school before repayment begans.
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∙ 12y ago
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What does a student loan in forbearance mean?
It means that there are no active efforts being taken to collect the loan.
What will 'in grace' status student loans do to your credit score and will it lower your score if you consolidate the student loans?
Does "in grace" mean in deferment? Deferred student loans do affect your debt-to-income ratio. Even in deferment they are factored into how much you owe. Many current and former students do not take the responsibility to keep their loan companies notified of their enrollment status, thinking that their financer will somehow just know that they are still in school. This more than any other factor causes credit problems on student loans. Anytime you open any kind of credit account, there is generally an inquiry which CAN affect your credit score. There is also a "hit" in the risk indicator of having a new account. Those factors are overcome quickly and as long as you pay the new, consolidated, account on time and keep your status updated; it should have little affect on your credit to consolidate.
What does extracted student loan funds mean?
It means that the loan has been approved and and removed from your account to be dusbursed to the school.
Does a student loan refund have to be claimed as income on taxes?
Loans are never taxable...I'm not sure what you mean by a loan refund though!
What does the sale of a student loan mean?
You'll be making your payments to a different financial institution.
What do the letters UNCNS mean regarding student loans?
It means that your loan is UNSubsidized Consolidated
What does student loan forgiveness mean?
The forgiveness occurs when a student falls behind by either reducing the capital to be paid, reducing the interest rates or allowing a longer period of time to pay back the loan.
What does lifetime aggregate borrowing limit mean?
The total amount of federal student loan money you can borrow in your lifetime.
What does student loan consolidation mean and how can that help you?
Student loan consolidation allows someone that is receiving multiple student loans to consolidate all the loans into one big loan. It helps students because it allows them to pay one payment monthly instead of several.
You received a letter from IL comptroller regarding payment withheld from IL student assistance commission offset unit what does this mean?
It means your Illinois student loan is delinquent.
What does interest capitalization mean?
Capitalization occurs when your lender or loan servicer adds the amount of unpaid, accrued interest on your student loan to your loan balance. Once this interest has been capitalized, interest begins to accrue on that new, higher loan balance.
What does LSCS mean on a bank statement?
More than likely a student loan payment related to the Lone Star College.
