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Can Perkins loans still be forgiven if they were consolidated with other federal loans?
Perkins loans can lose their eligibility for forgiveness if they are consolidated into a Direct Consolidation Loan. Once consolidated, the Perkins loans are paid off and no longer exist as separate loans, which means they cannot be individually forgiven. However, any qualifying payments made on the consolidated loan may count towards forgiveness programs, such as Public Service Loan Forgiveness. It's important to check specific eligibility criteria based on the type of forgiveness program you are pursuing.
How can I determine if my student loan has been forgiven?
To determine if your student loan has been forgiven, you should contact your loan servicer or the Department of Education. They can provide you with information on the status of your loan forgiveness application and confirm if your loan has been forgiven.
If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?
You can but 1, if your financial situation is such that you're considering bankruptcy, you almost certainly won't get approved and 2, it wouldn't necessarily be forgiven or dismissed as part of the bankruptcy.
What is a reaffirmed loan?
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
When is astudent loan forgiven?
A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you. Otherwise there are options to research into getting your loan payments postponed and/or deferred.
How long can a bank require you to pay on a delinquent loan?
Until it's paid off, or you declare bankruptcy and have the debt forgiven.
Can Perkins loans still be forgiven if they were consolidated with other federal loans?
Perkins loans can lose their eligibility for forgiveness if they are consolidated into a Direct Consolidation Loan. Once consolidated, the Perkins loans are paid off and no longer exist as separate loans, which means they cannot be individually forgiven. However, any qualifying payments made on the consolidated loan may count towards forgiveness programs, such as Public Service Loan Forgiveness. It's important to check specific eligibility criteria based on the type of forgiveness program you are pursuing.
How can I determine if my student loan has been forgiven?
To determine if your student loan has been forgiven, you should contact your loan servicer or the Department of Education. They can provide you with information on the status of your loan forgiveness application and confirm if your loan has been forgiven.
Can you convert a stafford loan to a perkins loan?
No.
If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?
You can but 1, if your financial situation is such that you're considering bankruptcy, you almost certainly won't get approved and 2, it wouldn't necessarily be forgiven or dismissed as part of the bankruptcy.
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
Do the government ever forgive student loans?
Sometimes you can have your student loans forgiven if you fulfill a certain criteria. There is such a thing called Perkins Loan Forgiveness. You can request a Perkins Loan cancellation form from your school's financial aid office. If you can acquire a job as a public worker (i.e. work at a public school) you can request the Public Service Loan Forgiveness Program, however you must have already made at least 120 loan payments on time.
What is a reaffirmed loan?
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
When is astudent loan forgiven?
A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you. Otherwise there are options to research into getting your loan payments postponed and/or deferred.
What are the differences between a Federal Perkins Loan and a Direct Subsidized Loan?
The main difference between a Federal Perkins Loan and a Direct Subsidized Loan is the entity that provides the loan. The Federal Perkins Loan is offered by the school itself, while the Direct Subsidized Loan is provided by the federal government. Additionally, the interest on a Direct Subsidized Loan is paid by the government while the borrower is in school, whereas interest on a Perkins Loan begins accruing immediately.
Is the Perkins Loan subsidized or unsubsidized?
The Perkins Loan is a subsidized loan, meaning the government pays the interest while the borrower is in school and during deferment periods.
What is the federal Perkins loan?
The federal perkins loan is a student loan offered by the U.S. Department of Education to help American students with their college financing. Those that use the federal perkins loan, will have a 5% interest rate that can be paid over ten years.
