Sentences with phrase «direct loan borrowers»

It's no surprise that nearly 4.9 million direct loan borrowers, owing a collective $ 247 billion, participate in an IDR plan.

The plan will allow Direct Loan borrowers to cap their monthly loan obligations at 10 percent of their discretionary income.

Unlike PAYE, which was available for loans taken out after 2007, RePAYE is open to all Direct Loan Borrowers, regardless of when the loan was taken out.

The federal government does not charge direct loan borrowers for collection costs.

Unlike PAYE, this option is available to all Direct Loan borrowers, regardless of loan origination date.

Approximately 12 % of Direct Loan borrowers use the income - contingent repayment plan, with 56 % of them having negative amortization (payments below the interest that accrues) and 45 % making a «zero» payment.

As of August 2014, 8 percent of Direct Loan borrowers and 21 percent of borrowers from the now - discontinued Federal Family Education Loan program are in default.

For Direct Loan borrowers GAO examined: (1) how participation in Income - Based Repayment and Pay As You Earn compares to eligibility, and to what extent Education has taken steps to increase awareness of these plans, and (2) what is known about Public Service Loan Forgiveness certification and eligibility, and to what extent Education has taken steps to increase awareness of this program.

While the Department of the Treasury estimated that 51 percent of Direct Loan borrowers were eligible for Income - Based Repayment as of September 2012, the most recent available estimate, Education data show 13 percent were participating as of September 2014.

Federal Direct Loan borrowers entering repayment should be eligible for a single income - driven repayment plan.

The Pay as You Earn and Revised Pay as You Earn plans are only for Direct Loan borrowers.

This discharge is available to FFEL and Direct Loan borrowers.

Under current law, entrance counseling is required for all first - time Direct Loan borrowers, and exit counseling is required for Direct Loan borrowers who are graduating, leaving school, or dropping below half - time enrollment.

Most of these plans are available for both FFEL and Direct Loan borrowers.

This benefit applies only to Direct loan borrowers and only for loans first disbursed on or after October 1, 2008.

: All Direct Loan borrowers (except for parent PLUS borrowers) can apply regardless of when you took out the loans.

In addition, the ability of Direct Loan borrowers to consolidate during the in - school period was also repealed on this date.

The Department has acknowledged a failure to complete the rehabilitation process for Direct Loan borrowers who have made the required reasonable and affordable payments.

Direct Loan borrowers can choose from several friendly payment plans, depending on needs — and you can switch to a different repayment plan if your situation changes.

According to the Department of Education, since 2013 enrollment in the government's income - driven repayment plans has increased 140 percent with Direct Loan borrowers.

One of the federal loan servicers, FedLoan Servicing, is administering PSLF for all Direct Loan borrowers.

Direct Loan borrowers must apply to the Department of Education and FFEL borrowers should apply to the lender or agency holding the loan.

«Direct Loan Alternative» is another type of repayment plan for Direct Loan borrowers only.

This program is available to Direct Loan borrowers that work in public service jobs for ten years and repay their loans through an eligible repayment plan.

Under the Teacher Loan Forgiveness Program (TLFP), Federal Stafford and Federal Direct loan borrowers who teach for five consecutive, complete years at an eligible school may qualify to have some of their loan balances forgiven.

Similar to the existing Income - Contingent Repayment plan (Direct Loan borrowers) and the Income - Sensitive Repayment plan (Federal Family Education Loan [FFEL] borrowers), the new Income - Based Repayment (IBR) plan is available to both Direct Loan and FFEL borrowers.

Federal Perkins Loans and Federal Direct Loan borrowers may qualify for various types of loan forgiveness and / or cancelation programs for working in high need teaching areas and public service jobs.

(Because no new FFEL Program loans have been made since June 30, 2010, only Direct Loan borrowers can qualify as new borrowers on or after July 1, 2014.)

Federal loan borrowers whose bills are more than 10 % of discretionary income; who were new direct loan borrowers on or after Oct. 1, 2007; and who took out another direct loan on or after Oct. 1, 2011.

Other things that changed with the BCA include disallowing the Department of Education from offering repayment incentives such as interest reductions or rebates to encourage on - time payments, though they are still allowed to offer rate reductions if you are a Direct Loan borrower who has opted to have your payments automatically withdrawn from your bank account.

If you're a Direct Loan borrower, you must have had no outstanding balance on a Direct Loan as of October 7, 1998, or on the date you obtained a Direct Loan after October 7, 1998, and you must have more than $ 30,000 in outstanding Direct Loans.

The institution must provide this information in «loan counseling» given to every new Direct Loan borrower in an in - person entrance counseling session, on a separate form that must be signed and returned to the institution by the borrower, or by online or electronic delivery that assures borrower acknowledgement of receipt of the message.

If you are a Direct Loan borrower who had a balance on a FFEL Program loan that was made before July 1, 1993 at the time you received your first Direct Loan, or if you are a FFEL Program loan borrower who received loans before July 1, 1993, you may be eligible for additional deferments or your deferment options may be different from the deferments described above.

Not exact matches

Borrowers with loans from the U.S. Department of Veterans Affairs, the Federal Housing Administration or the Rural Housing Service will feel the most direct impact because furloughed workers are involved in processing those loans.

Borrowers with loans from the U.S. Department of Veterans Affairs, the Federal Housing Administration or the Rural Housing Service will feel the most direct impact.

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 %).

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 %).

For most borrowers, it makes sense to direct any extra payment toward your loan with the highest interest rate — this is the fastest way to save the most money over the long term.

To ensure borrowers are not adversely impacted by this transition and to facilitate loan repayment while reducing taxpayer costs, the Department of Education is encouraging borrowers with split loans to consolidate their guaranteed FFEL loans into the Direct Loan progloan repayment while reducing taxpayer costs, the Department of Education is encouraging borrowers with split loans to consolidate their guaranteed FFEL loans into the Direct Loan progLoan program.

Direct Consolidation Loans are managed by one of four servicers chosen by the borrower.

This type of payment makes sense for lenders because it reduces the costs associated with processing a loan payment, and more frequent direct debits (daily or weekly) make it possible for the lender to identify any potential repayment issues early — giving them time to try to help borrowers catch up on any loan payments they may have missed and mitigate larger credit issues down the road.

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.

Borrowers who select a Pay As You Earn repayment program are eligible if they have Direct Stafford Loans, subsidized or unsubsidized, Direct PLUS loans to students, or consolidation loans that do not include PLUS loans made to parLoans, subsidized or unsubsidized, Direct PLUS loans to students, or consolidation loans that do not include PLUS loans made to parloans to students, or consolidation loans that do not include PLUS loans made to parloans that do not include PLUS loans made to parloans made to parents.

You are a first - time borrower for interest subsidy purposes if you had no outstanding balance on a Direct or FFEL Program loan on July 1, 2013, or on the date you obtained a Direct Loan after July 1, 2loan on July 1, 2013, or on the date you obtained a Direct Loan after July 1, 2Loan after July 1, 2013.

With a graduated repayment program, federal student loan borrowers with Direct Stafford Loans, subsidized or unsubsidized, PLUS loans, or consolidation loans have a fixed monthly payment that adjusts every two or three yLoans, subsidized or unsubsidized, PLUS loans, or consolidation loans have a fixed monthly payment that adjusts every two or three yloans, or consolidation loans have a fixed monthly payment that adjusts every two or three yloans have a fixed monthly payment that adjusts every two or three years.

Borrowers with Direct Stafford loans, both subsidized and unsubsidized, those with PLUS loans, or consolidation loan may opt for the standard repayment program.

Borrowers with Direct Stafford loans, subsidized or unsubsidized, PLUS loans, or consolidation loans may opt for the extended repayment plan.

At this time, only federal direct loans are eligible for PSLF, but a consolidation of other types of loans may indirectly provide loan forgiveness to some qualified borrowers.

Under an income - contingent repayment program, borrowers with Direct Stafford loans of any kind, PLUS loans made to students, and consolidation loans have their monthly payment based on the lesser of 20 percent of discretionary income or the amount due on a repayment plan with a fixed payment over 12 years, adjusted for income.

Payments are made for up to 20 years (25 years for borrowers with Direct Loans obtained for graduate and professional study).