Sentences with phrase «ffel loans held»
While the action affects nearly 7 million people with $ 162 billion in FFEL loans held by guarantee agencies, it does not affect any borrowers whose loans are held by the Education Department, according to the department.
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As a result, if you submit a PSLF Employment Certification Form and FedLoan Servicing determines that your employment qualifies, all of your Direct Loans as well as any of your FFEL Program loans that are held by the U.S. Department of Education will be transferred to FedLoan ServiLoans as well as any of your FFEL Program loans that are held by the U.S. Department of Education will be transferred to FedLoan Serviloans that are held by the U.S. Department of Education will be transferred to FedLoan Servicing.
Direct Loan borrowers must apply to the Department of Education and FFEL borrowers should apply to the lender or agency holding the lLoan borrowers must apply to the Department of Education and FFEL borrowers should apply to the lender or agency holding the loanloan.
If you do not select one of the forbearance or stopped collection options within the application, your ED - held Federal Student Aid loans will automatically be placed into forbearance and stopped collections, and ED will request forbearance and debt collection to stop for any commercially held FFEL Program loans that you have currently (as applicable).
If you select forbearance and you have commercially held FFEL Program loans, ED will request forbearance on your behalf.
If you have a defaulted FFEL Program loan that is held by a guaranty agency, your state tax refunds may be also withheld and applied toward repayment of your loan, and you may lose your driver's license or other state - issued licenses.
Borrowers who submit complete borrower defense claims can choose to have their Direct loans and Department held FFEL loans placed into forbearance or stopped collections.
To see a list of servicers for federally held loans made through the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program, go to our Loan Servicers page.
Defaulted FFEL Program loans may be held by ED or by a guaranty agency.
For example, if you hold Federal Family Education (FFEL) loans and need to qualify for Public Service Loan Forgiveness, they'll be able to assist you in the consolidation of said loans.
The collection fee policy is different for FFEL loans that are not held by the Department.
If you request forbearance and you have guaranteed (FFEL) loans that are not held by the Department, the Department says that it will request forbearance on your behalf.
In essence, the Department of Education holds the couple hostage and effectively will not allow one spouse to accept individual responsibility for the FFEL spousal consolidation loan so they can be in control of the debt.
Forbearance and Stopped Collections: Borrowers who submit complete borrower defense claims can choose to have their Direct loans and Department held FFEL loans placed into forbearance or stopped collections.