There are
more flexible repayment plans than ever, and more options for the borrower who falls behind on their payments.
In general, many private lenders give student borrowers 10 years to pay back in full, but some lenders allow for other,
more flexible repayment plans.
In the event that a customer is experiencing financial difficulty, we may be able to assist by offering
a more flexible repayment plan.
You can certainly speak to your lender about
a more flexible repayment plan, though they're under no obligation to offer you one.
Not exact matches
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.
While no lender is
more flexible than the government when it comes to
repayment plans, not all are created equal.
However, if you let us know that you are experiencing financial difficulty before you miss your first
repayment, we may be able to assist by offering a
flexible repayment plan to help make
repayment more manageable.
It may also give you access to
more flexible student loan
repayment plans to help ease your financial obligations.
Direct Parent PLUS loans have three
repayment plan options, which are
more flexible than many private parent loan options, but
more limited than the Direct Loan options for students.
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.