Many student loan providers offer low cost government and private loans with consistently high quality servicing and flexible repayment terms. FinAid maintains a list of education lenders, guarantee agencies, servicers and secondary markets who offer federal and private student loans, as well as advice on preferred lender lists and choosing a lender and tips on identifying the lenders that currently hold or service your loans.
Loan forgiveness programs (in which the borrower's loans are paid off in exchange for volunteer work, public service or military service) offer an option for easy repayment. If you are having difficulty repaying your education loans, see Solutions for Borrowers Who are Having Trouble Repaying Student Loans and Defaulting on Student Loans before you decide to skip a payment. These articles offer you several alternatives for repayment relief. (See also loan repayment protection for repayment assistance you can arrange for in advance when your loan is disbursed.) Loan Cancellation and Discharge Forms can be found on the US Department of Education web site.
Also, FinAid provides numerous calculators that can help you better understand your borrowing options. The loan calculators offer estimates of monthly loan payments, estimates of the amount of debt you can afford to repay, an analysis of the cost of capitalizing the interest and tools for comparing loan costs.
Use FinAid's Student Loan Checklist to keep track of your student loans.
Some students, because they do not have prior experience with debt and loan amortization, do not appreciate how much their loans will cost them. FinAid provides some tips concerning calculating the cost of interest.
0 comments:
Post a Comment