Sentences with phrase «holder of the loan»

This may be the school where you received the loan, or a loan servicer working on behalf of the school or other holder of the loan.

Since loans may periodically be sold to a different lender, the current holder of a loan may not necessarily be the lender that originated the loan.

Returns are capped — With debt investments, you're the mortgage holder of a loan secured by a specific property.

If your loan is sold, you may find that you sent your first payment to the wrong place and the new holder of your loan may send you an overdue notice.

However, the bank or other holder of the loan may require a minimum amount of insurance coverage.

You can also try talking to the current holder of your loans, to see if they'll reduce the interest rate on your loans rather than lose your loans to another lender.

Holder A holder of a loan is the lender that currently holds legal title to the loan and is entitled to the payments of principal and interest.

If a continuing student wishes to take advantage of the early repayment status loophole, but the current holder of the loans does not cooperate, there are several possible loopholes that may allow the student to bypass this restriction.

Note that Perkins Loans are not sufficient on their own to bypass the single holder rule, as the language in 482C (b)(1)(A)(i) that defines the single holder rule talks about «multiple holders of loans under this part», where this part refers to Part B of the Higher Education Act.

For example, if your school lied to you about something important before you enrolled, such as your chances of finding a job after you graduated, you may have grounds to file a borrower defense claim with the Department of Education or other holder of your loans.

For information about your options, contact the servicer of the loan and / or the original lender or the current holder of the loan.

The program is administered by the HGSE Financial Aid Office and the U.S. Department of Education will be the holder of the loan.

Students must formally request a deferment or forbearance through the procedures established by the holder of the loan, and must continue making payments until notified that the deferment has been granted.

You should contact the holder of your loan with any questions.

If you default on a loan, the university, the holder of the loan, the state government and the federal government can take legal action to recover the money, including garnishing your wages and withholding income tax refunds.

you must send proof that supports your claim to the holder of your loan.

The holder of your loan can charge late fees and normal servicing fees but it is strictly NOT ALLOWED to charge for a modification.

If you are not able to correct the data by contacting the holder of the loan, you may contact NSLDS directly and correct the information.

In addition, if you do not make repayment arrangements with the holder of your loan — the U.S. Department of Education (ED), a guaranty agency, or the school that made the loan — and comply with the terms of the repayment arrangement, your loan holder may place your loan with a collection agency.

The holder of your loan can take other actions to collect as well.

Prepayment risk For mortgage - backed securities, the risk that declining interest rates or a strong housing market will cause mortgage holders to refinance or otherwise repay their loans sooner than expected and thereby create an early return of principal to holders of the loans.

Clearly, if the holder of the loans is refusing to grant early repayment status, the holder is also refusing to consolidate the loans, and thereby enables a third party lender to consolidate the loans of the eligible borrower.

Perkins Loans are defined in Part E. However, the borrower could consolidate the Perkins Loan into a FFELP Consolidation Loan to bypass the single holder rule, or the borrower could indicate that he / she has been unable to obtain a consolidation loan with income - sensitive repayment terms from the holder of the loans selected for consolidation, and per 428C (b)(1)(A)(ii), consolidate with a different lender.

Discharge because of the borrower's death (or, in the case of PLUS Loans, the death of the student for whom the parent borrowed) is based on an original or certified copy of the death certificate submitted to the school (for a Federal Perkins Loan) or to the holder of the loan (for a FFEL or Direct Stafford Loan).

That's partly because the holder of the loan often contracts with third - party servicers or debt collectors that don't have authority over the debt.

Billing statements are sent to you as a convenience, and you are obligated to make payments even if you do not receive any notice from the holder of the loan.

For example, if your school lied to you about something important before you enrolled, such as your chances of finding a job after you graduated, you may have grounds to file a borrower defense claim with the Department of Education or other holder of your loans.

The promissory note says, «My Direct Consolidation Loan will, to the extent used to pay off loans made under the Federal Family Education Loan (FFEL), Direct Loan, and Federal Perkins Loan (Perkins Loan) programs...» And, «I promise to pay to the ED all sums disbursed under the terms of this Note to pay off my prior loan obligations...» And, «I understand that ED will send funds to the holders of the loans that I want to consolidate to pay off those loans.»

If you have student loan debts, contact the holder of your loans and ask for a disability cancellation form.

For a loan made under the Federal Perkins Loan Program, the holder of the loan may declare the loan to be in default if you don't make any scheduled payment by the due date.