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What is the legal age to apply for a student loan?
The age requirements for private loans and federal loans differ. Many private lenders require that a student be at least 18 years old to apply for a student loan. However, this is not a legal requirement. The minimum age to apply for federal aid is 16.
What is one advantage of federal student loans compared to private student loans?
One advantage of federal student loans compared to private student loans is that federal loans typically offer more flexible repayment options and lower interest rates.
Do I have federal student loans?
To determine if you have federal student loans, you can log in to the National Student Loan Data System (NSLDS) using your FSA ID. This database will show all federal student loans you have taken out.
Can you consolidate Private student loans into federal student loans?
no. you will have to consolidate separately. with a federal lender then a private lender.
Where can student loans be obtained?
from various lending institutions. ^While true, avoid getting private student loans when possible as you aren't entitled to certain rights such as forbearance and deferments, These lenders also have interest rates that vary month to month depending on market conditions. If possible, always get Federal student loans.
Is there a direct student loan available for attendance at a college this year?
Student loans can be generally broken into the categories of federal and private student loans. Private student loans are loans students borrow from lending agencies, with credit requirements, interest rates and repayment schedules set by the lenders, rather than by the Department of Education. Federal loans, on the other hand, are available for both students and parents, and have uniform rates and requirements. The most common federal loans are Stafford Loans, Perkins Loans, and PLUS Loans.
How can you consolidate your student loans when your lender refuses?
When you have asked your lender to consolidate your student loans and they refuse, you can look for a company that will work as a liasion between you and a prospective new lender. Due to investors not investing in student loans the majority of lenders have stopped consolidating federal loans. Student Loan Gal at www.defaultms.com
What is the legal age to apply for a student loan?
The age requirements for private loans and federal loans differ. Many private lenders require that a student be at least 18 years old to apply for a student loan. However, this is not a legal requirement. The minimum age to apply for federal aid is 16.
The difference between federal direct student loans and pell grants.?
The federal direct loans come directly from the federal government instead of private lenders. I believe loans have to be paid back but most grants do not. you can find more information at federaldirectloans.com
What is one advantage of federal student loans compared to private student loans?
One advantage of federal student loans compared to private student loans is that federal loans typically offer more flexible repayment options and lower interest rates.
Can you file bankruptcy for your student loans and keep your house out of it?
If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.
Do I have federal student loans?
To determine if you have federal student loans, you can log in to the National Student Loan Data System (NSLDS) using your FSA ID. This database will show all federal student loans you have taken out.
What year did student loan federal guarantee begin?
The federal government began guaranteeing student loans provided by banks and non-profit lenders in 1965, creating the program that is now called the Federal Family Education Loan (FFEL) program.
Can you consolidate Private student loans into federal student loans?
no. you will have to consolidate separately. with a federal lender then a private lender.
Does a cosigner have to replay a federal student loan if the student dies?
Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
Is a student loan considered federal?
In the U.S., student loans can be Federal or Private.Stafford, PLUS, and Perkins loans are Federal. Most others are private.
Are all student loans issued by the Federal Government?
No..there are also private student loans.
