Sentences with phrase «loan after a certain time period»

While federal loans are rather forgiving, utilizing programs based on income - driven repayment or even forgiving the loan after a certain time period is not the same for private loans.

Not exact matches

After a certain period of time, you can have your student loan debt adjusted, or even forgiven, based on your salary.

For certain types of federal student loans, a period of time after you graduate, leave school, or drop below half - time enrollment when you are not required to make payments.

What this means is that after a certain period of consecutive on - time payments — say, 12 or 24 months — you can request that the lender remove the cosigner from the loan.

There are variations of this kind of loan where after a certain period of time the interest only installments turn into «principle & interest» installments and thus the principal is also returned in monthly payments.

If you do go through a private lender in conjunction with a cosigner, you can oftentimes apply to remove the cosigner from the loan after a certain period of time (such as 36 or 48 months of making consecutive, on - time payments).

Loan forgiveness usually refers to a set amount being forgiven after completion of certain types of community service, such as teaching for a specified time period in a designated elementary or secondary school that serves low income families.

Like fixed - rate loans, the initial interest rate and monthly payment for ARMs will remain in effect for a certain period of time — you can choose from 1, 3, 5, 7 or 10 years — and then the rate adjusts and your payment amount changes every year after.

Subsidized loans do not accrue interest while students are enrolled at least half time, for six months after they leave school or drop below half - time status, and during certain other periods when they may defer making repayments.

Federal student loans offer several repayment plan options, extended repayment terms, and forgiveness for certain borrowers after a period of time.

Some loans will allow you to request that your cosigner be removed from the loan after a period of time if you meet certain requirements.

For certain types of federal student loans, a period of time after you graduate, leave school, or drop below half - time enrollment when you are not required to make payments.

After a certain time period, the rest of the unpaid loan is forgiven.

A balloon payment means that the borrower has to pay off the loan in full after a certain period of time.

[18] If the creditor makes certain significant changes between the time the Closing Disclosure form is given and the closing — specifically, if the creditor makes changes to the APR above 1/8 of a percent for most loans (and 1/4 of a percent for loans with irregular payments or periods), changes the loan product, or adds a prepayment penalty to the loan — the consumer must be provided a new form and an additional three - business - day waiting period after receipt of the new form.