I had 69k in
FFEL STAFFORD loans after graduating in 2005.
The fee for
FFEL Stafford loans was eliminated as of July 1, 2010, but so was the FFEL program.
PLUS loan borrowers have nearly all the repayment options that Direct and
FFEL Stafford loan borrowers have, with one big exception.
My student loan burden as of right now is $ 180,953.75 in Federal Loans (Consolidated — and not consolidated — Direct &
FFEL Stafford Unsubsidized and Subsidized Loans, and Perkins loans to boot).
This applies to
FFEL Stafford Loans, Direct Subsidized and Unsubsidized Loans, and in some cases, Consolidation Loans.
They were
FFEL Stafford Subsidized Loans that were converted in a FFEL Consolidated Loan on 1999 with Sallie Mae.
A borrower about to enter repayment with two $ 4,500
FFEL Stafford loans (at 6.0 %) and a $ 5,500 Direct Stafford loan (at 4.5 %).
Not exact matches
A borrower in repayment with a $ 32,000
FFEL Consolidation loan (at 6.25 %) and a $ 5,500 Direct Unsubsidized
Stafford loan (at 6.8 %).
Borrowers who have Direct
Stafford loans that are either subsidized or unsubsidized,
FFEL PLUS loans, or
FFEL consolidation loans may qualify for an income - sensitive repayment plan.
If you borrowed a federal loan under the Federal Family Education Loan (
FFEL) Program before July 1, 2010, it is likely classified as a Federal Direct loan or a Federal
Stafford loan.
The loans eligible under this plan are subsidized / unsubsidized Federal
Stafford Loans,
FFEL PLUS Loans, and
FFEL Consolidation Loans.
Loans that can qualify if they are consolidated include Direct PLUS loans made to parents; subsidized and unsubsidized
Stafford loans;
FFEL PLUS Loans;
FFEL PLUS loans for parents; Federal Perkins loans and
FFEL consolidation loans.
If you are carrying student loans issued through
FFEL (private funding) or Federal Direct loans, such as
Stafford or Perkins, you are eligible to consolidate your loans under federal guidelines that will ensure a reasonable fixed rate (no higher than 8.25 %) and extended payment terms (10 to 20 years).
Borrowers who have Direct
Stafford loans that are either subsidized or unsubsidized,
FFEL PLUS loans, or
FFEL consolidation loans may qualify for an income - sensitive repayment plan.
Federal loan promissory notes and applications will state the name of the federal loan program (
Stafford, PLUS, Perkins,
FFEL, William D. Ford Direct Loan Program, etc.) at the top of your monthly bill, and loan contract.
These loans included Subsidized Federal
Stafford Loans, Unsubsidized Federal
Stafford Loans,
FFEL PLUS Loans, and
FFEL Consolidation Loans.
Thus the fixed rates on new loans for which the first disbursement occurs on or after July 1, 2006 are: 6.8 %
Stafford, 7.9 % Federal Direct PLUS and 8.5 %
FFEL PLUS.
Federal loans borrowed under the Federal Family Education Loan Program (
FFEL) prior to July 1, 2010, are typically classified as either a
Stafford Loan or a Federal Direct Loan.
First and foremost, they must have benefited from the
Stafford federal financing program, or have borrowed from a Federal Family Education Loan (
FFEL).
IBR is only available for federal college loans, so any
Stafford, PLUS and Consolidation Loans under Direct or
FFEL programs are eligible.
Federal Family Education Loan (
FFEL) Program loans, including the Subsidized Federal
Stafford Loans, Unsubsidized
Stafford Loans, Federal PLUS Loans (for parents and graduate or professional students), and Federal Consolidation Loans (except for joint spousal consolidation loans)
I doubt there's a market for student load credit default swaps, given that the US government already backstops most of them through
FFEL /
Stafford / Plus.
Income - Based Repayment Plan Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Federal
Stafford Loans, all PLUS loans made to students, Consolidation Loans (Direct or
FFEL) that do not include Direct or
FFEL PLUS loans made to parents.
FFEL and Direct
Stafford loans, PLUS, and Perkins loans are eligible.
While
Stafford Loan (
FFEL) eligibility varies based on consolidation status.
The income - sensitive repayment plan is designed for
FFEL loan programs, such as Federal
Stafford Loans, PLUS Loans, and consolidation loans.
These are my
FFEL Federal
Stafford Subsidized and Unsubsidized Student Loans that had gone into default long ago (which means TOTAL AMOUNT now due) and had actually aged off all 3 Credit reports in late 2015 and had been permanently assigned to the Government in early 2008.
Some loans like
FFEL Loans or Direct
Stafford Loans will begin accepting payments after the 6 - 9 month grace period has ended which is after graduation or in some circumstances suspension of enrollment.
Direct loans (meaning
Stafford and PLUS loans for parents and graduates), Perkins loans, and
FFEL loans are all eligible to be deferred and you can defer them up to three years.
Any
Stafford, Grad PLUS or Consolidation loan made under either the Direct Loan or
FFEL program is eligible for repayment under IBR, EXCEPT loans that are currently in default, parent PLUS Loans, or consolidation loans that repaid a parent PLUS Loan.
For this purpose, eligible
FFEL Program loans are Subsidized and Unsubsidized Federal
Stafford Loans,
FFEL PLUS Loans for graduate or professional students, and
FFEL Consolidation Loans that did not repay any PLUS loans for parents.
Stafford Loan comparison based on
FFEL and Direct Loan student volume excluding Graduate PLUS loans that did not exist in 2000 - 01.
In making the calculation, it is important to note that an interest rate that is lower than the repayment period rate applies to most subsidized and unsubsidized
Stafford loans in the
FFEL and Direct Loan programs during the in - school, grace, and deferment periods.
All students taking out Direct Subsidized Loans or Direct Unsubsidized Loans: If you have not previously received a subsidized or unsubsidized loan under the Direct Loan Program or a subsidized or unsubsidized
Stafford Loan under the Federal Family Education Loan (
FFEL) Program, you'll be required to complete entrance counseling.
Income - Sensitive Repayment Plan Subsidized and Unsubsidized Federal
Stafford Loans,
FFEL PLUS Loans,
FFEL Consolidation Loans.
They are only available for
Stafford Loans,
FFEL PLUS loans, and
FFEL Consolidation loans.
A temporary postponement of payment on a loan that is allowed under certain conditions and during which interest generally does not accrue on Direct Subsidized Loans, the subsidized portion of Direct Consolidation Loans, Subsidized Federal
Stafford Loans, the subsidized portion of
FFEL Consolidation Loans, and Federal Perkins Loans.