Sentences with phrase «federal loan protections»

Some of these exclusive federal loan protections include: (1) fixed (and typically lower) interest rates, (2) deferment and forbearance options, (3) eligibility for Income - Based Repayment plans and Public Service Loan Forgiveness, (4) option to consolidate multiple federal loans into a single Direct Consolidation Loan, which offers many benefits, (5) possibility of loan subsidization during a grace period, which is usually not offered for private loans, (6) etc..

Consolidating with a private loan will cancel federal loan protections, so you can't apply for deferment, an income - driven plan or any type of loan forgiveness.

Through refinancing, you could score a better interest rate but lose access to federal loan protections.

If you're unimpressed, you might be wise to stick with your federal loan protections.

As you consider refinancing your student loans, be aware that working with a private lender isn't a wise move if you want to keep your federal loan protections or are working toward loan forgiveness.

One thing to be aware of is that through refinancing, you'll give up federal loan protections such as payment plan flexibility and the option to pursue an income - contingent plan.

Not exact matches

«We still have some work to do to ensure that students who take out private student loans have the same kinds of protections offered by federal loans.»

I knew the basics — federal loans are usually a cheaper and safer option than private ones since they tend to have lower interest rates and better borrower protections.

The Consumer Financial Protection Bureau announced Wednesday it is suing federal and private student loan servicer Navient, saying the company has been «systematically and illegally failing borrowers at every stage of repayment.»

Wrenne cautions that it's not a good idea if you have federal loans, which carry consumer protections you might choose to use at some point.

Federal loans offer borrowers many benefits and protections — such as loan deferment, forgiveness and repayment options — that private lenders generally can't match.

However, there are many other repayment options and consumer protections for federal student loans.

Keep in mind that if a borrower chooses to refinance federal student loans through a private lender, they will lose the protection and benefits of federal student loan programs.

You can't go back to having federal student loans — you forfeit your borrower protections such as income - driven plans and loan forgiveness.

However, there are additional protections with federal loans, including income - based repayment.

If you refinance federal student loans, you'll no longer have access to federal protections.

However, borrowers do have a few more protections in place in case of default on a federal student loan:

This includes the ability to combine federal and private loans, access to wealth advisors via SoFi, and career support, as well as unemployment protection that allows clients to pause payments, and provide them with career coaches to find a job.

And while federal loans come with their own set of challenges and risks, all 1.37 million private loan borrowers are often subject to fewer protections and less flexible repayment plans than those offered under federal loan agreements.Less accommodating repayment options and more rigid terms can quickly lead to private student loan defaults, which is a dangerous financial place to be.

Private student loans don't have to offer the same borrower protections and repayment options as federal student loans.

Consumer Financial Protection Bureau: Get Answers to Your Mortgage Questions Edelman Financial Services LLC: Home Ownership & Mortgages Freddie Mac CreditSmart Homeowners & Homebuyers from Federal Housing Finance Agency VA Home Loan Centers

Unlike federal student loans, your private (non-federal) loans don't have a common set of consumer protections when it comes to deferment and forbearance.

When you refinance your federal student loans with a private lender, you forfeit most federal student loan protections.

Anyone who might need an income - driven plan or other federal protection in the future might want to hold off on refinancing any federal student loans.

Unlike federal loan servicers, private lenders aren't held to a specific standard set of protections.

You lose access to federal protections: Private loans aren't eligible for federal forbearance, deferment, or forgiveness programs.

Protections like deferment and forbearance vary depending on whether your loans are from the federal government or a private lender.

While these protections still fall short of those offered by federal loans, it's nice to know these refinancing lenders may have your back.

Refinancing federal loans into a private loan means losing consumer protections specific to federal loans.

CashCall was sued in December by the federal Consumer Financial Protection Bureau, alleging the lender illegally tried to collect on some loans made over the Internet.

Federal student loans come with protections you might not see with private student loans.

For example, federal student loans typically offer more borrower protections and flexible repayment options compared to private loans, said Mark Kantrowitz, publisher of PrivateStudentLoans.guru.

When you refinance your student loans, you're working with a private lender and forfeit the federal protections offered to you with your federal student loans.

Federal student loans offer borrowers protections and alternative repayment options that private loans may not, such as income - based repayment and forgiveness programs.

That's because refinancing federal loans means forfeiting government protections such as income - driven repayment plans, deferment / forbearance, and some debt forgiveness programs.

The options for federal student loan borrowers can be good, but as the Consumer Financial Protection Bureau's many reports and recent lawsuit against Navie

Unlike private student loans, federal direct student loans don't require credit history or a co-signer, and they have more repayment options and protections to prevent default.

Once you finish school, though, you can refinance to private loans to save money during repayment — as long as you aren't planning on applying for PSLF or depending on for the protections that come with federal loans.

When you consider whether a private lender is right for you, remember that private student loans for college don't come with the same protections as federal loans.

Note: when you refinance federal student loans with a private lender, you forego federal student loan protections, such as public service forgiveness and income based repayment plans.

But in a sharply worded letter sent Wednesday, an official from the federal Environmental Protection Agency cautioned the loan has not yet received federal approval.

There was also discussion at the meeting about whether the federal Environmental Protection Agency, which has expressed doubts about the use of the loan, has to approve the project.

The federal government oversees the clean water revolving loan, and the Environmental Protection Agency has also raised questions about the appropriateness of the deal.

The three voting members of the Public Authorities Control Board must unanimously approve the loan, which has been criticized as a violation of state and federal law by state and local legislators as well as the Environmental Protection Agency.

The federal Environmental Protection Agency ultimately rejected most of the loan request because it was going to be used for basic construction rather than cleaning water or helping the environment.

CFPB TO SCRUTINIZE LOAN SERVICERS: The final rule issued today will give the Consumer Financial Protection Bureau authority over the largest non-bank student loan servicers for federal loans, including Sallie Mae, American Education Services, Nelnet, Great Lakes, as well as ACS, Mohela and EdFinancial.

Max out federal student loans before using private ones, because federal loans have more borrower protections and don't require a co-signer.

Due to the federal insurance protection offered by the FHA, you do not have to pay more than the value of the home when it is sold, even if your loan balance surpasses your home's value.

Federal loans don't require a credit history or a co-signer, and they offer more generous protections for borrowers than private student loans do, such as income - driven repayment and loan forgiveness.

Refinancing federal loans into a private loan means losing consumer protections specific to federal loans.