answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: What is a maximum time frame to repay your Stafford loan if you choose the standard repayment plan option?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

Please can you explain the different types of mortgages?

There are many types of mortgage, each with its own interest rate, fees and flexibility. All these things affect how much the loan costs you and when it will be paid off. Your interest rate may be fixed, floating or a mix of both. And there are different repayment structures to choose between.


What do retirement planning services offer and do they cost very much money?

"Retirement planning services offer long term peace of mind, depending ofcourse on the instituion you choose to handle these very delicate and personal matters. These services vary widely for the most part in cost, duration, and payment/repayment structures."


Federal Direct Stafford Loans?

For many students looking to attend a post-secondary institution, the mountainous costs of attendance and tuition can seem to be insurmountable obstacles; however, due to federal and state loan programs, students can borrow easy, affordable money. One such program initiated by William D. Ford called the Direct Stafford Loan was created for the sole purpose of providing students with affordable, low-interest loans to facilitate attendance to an institution of higher education. Direct Stafford Loans can be either subsidized or unsubsidized. Direct Subsidized Loans are primarily for students with a need for financial assistance, which the school reviews by looking at the Free Application for Federal Student Aid (FAFSA). Subsidized loans do no accumulate interest while in school, and there is a generous grace and deferment periods after leaving or graduating from school. Direct Unsubsidized Loans, on the other hand, are not given in conjunction with financial need, and interest accrues during school and periods of grace, deferment, and forbearance. Students can choose to pay off this interest during school, or allow it be capitalizedor added to the total loan amountwhich will increase the total amount needed to be paid. To apply for Direct Stafford Loans, students must complete the FAFSA, which can be found online at www.fafsa.ed.gov, as soon as possible. Schools will then look at a student's eligibility on an individual basis. Although Stafford Loans are issued by the U.S. Department of Education, not all institutions accept them. For dependent undergraduate students, the maximum amount that can be borrowed from the Stafford Loan Program for four years is $31,000; for independent students, this number is raised to $57,500. Graduate students may borrow a total of $138,500. For undergraduate students borrowing between July 2011 and June 2012, the interest rates are fixed at 3.4%, compared to 6.8% for graduate students. Rising debt for graduates has risen drastically, leaving many people unable to repay these loans. Although students should make sure they need a loan before accepting it, Direct Stafford Loans are much more affordable than other outside, private loans, and should be chosen as a first option if loans are a necessity for paying for college.


How do you compare different credit cards?

Check the credit card company's profile. Select which cards have the lower interest rate. Then credit limit their credit limit. Different cards offer different credit limit. Choose a card that is best suited to your needs. The maximum total amount for purchases, balance transfers and cash advances. From this you can decide which card to choose.


What is best bank in UK to open savings account?

The top banks in UK are: HSBC Royal Bank of Scotland Group Lloyds Banking Group Barclays Standard Chartered You can choose any of them to open your savings account.

Related questions

Can parents demand immediate repayment of a personal loan on which there were no terms -just pay back when you can- because you are dating somebody they don't like?

They cannot request immediate repayment but can choose to draw up a formal aggrement as to when and how the debt is to be repaid. They cannot request immediate repayment but can choose to draw up a formal aggrement as to when and how the debt is to be repaid.


Where can one find a direct loans payment?

Direct loans payment can be found at the relevant sites of the federal government in co-operation with your employer. There are several repayment plans to choose from: standard, extended, graduated, and income contingent.


Where to get a Stafford pennant for my room?

The best Location online to get a pennant from Stafford that I found is on Amazon.com. They have a great selection of pennants to choose from. They have many different styles and colors available.


An Introductory Guide About Federal Direct Student Stafford Loan Repayment Plans?

Introduction:The federal government offers students a variety of repayment plans that can help students repay their federal direct student Stafford loans. The best part about using these plans is that you can choose a loan repayment plan that fits your needs and budget at any time.As a result, here's a brief guide that provides an overview of these repayment plans that can help you choose an appropriate repayment plan.The federal government offers a standard repayment plan.This plan requires students to pay at least $50.00 each month towards their loans. However, students can increase this monthly payment to 1.2% of their monthly balance if they wish to repay their loans faster.Students who choose this plan have up to 10 years to repay their loans in full. As a result, this plan might be worthwhile to use if you can afford to make higher monthly payments on your loans.There's an extended payment plan available to students who need more time to repay their loans.Students who choose this option have up to 25 years to repay their loans using one of two payment options.The first payment option allows students to pay a fixed amount each month throughout the lifetime of the plan. The second option allows students to increase the amount they pay each month gradually every two years to repay their loans.Students are eligible for this repayment plan provided that they obtained at least $30,000 in Direct Loans after October 7, 1998.There's a graduated repayment plan that allows students to increase their payments over time gradually.This plan allows students who are just starting their careers to repay their loans over time gradually as their income increases. The plan requires students to send monthly payments that start as low as the amount of interest that accrues each month on their outstanding balances and gradually increase to up to 1.2% of the student's outstanding loan balance. Students who choose this plan have 10 years in which to repay all of their loans.There's also two Income Contingent Repayment Plans.This plan offers students who are facing financial difficulty an opportunity to repay as much of their student loan debt back without facing financial difficulties. It allows students to make monthly payments that are based on either their monthly discretionary income or their ability to repay a certain percentage of their loans over a span of 12 years. Students who choose this plan have 10 to 25 years to repay their loans.If you have any questions about these repayment plans, please ask your school's financial aid office or visit http://www.direct.ed.gov/ for more details.


What three considerations when you choose memory.?

The speed, compatibility, and the maximum memory allowed. ;-)


What are the standard price options for the Google Ad Words program?

Google AdWords gives you control over the price options. There is no minimum or maximum amount you can pay, because you choose exactly what you want to pay based on your needs and wants from the program.


How do you get standard view on roblox?

You must go to your profile, and choose to change it, then select Standard View at the bottom.


List three considerations when you choose memory.?

speed compatability maximum memory allowed


Can you choose what school to apply a scholarship?

4th standard scholarship results


What is the standard gun in a home?

It depends on what you mean. There really is no standard. Different people choose different guns depending on personal preference.


What size needle do you have to have to knit a prayer shawl?

The needle size you choose will work in concert with the yarn you choose to give you the results you want. There is no standard.


Which button would you choose to change a selected text back to black?

the answer would be Standard!