Sentences with phrase «of federal loan options»

The primary reasons why families borrowed private student loans included having reached the Stafford loan limits, being unaware of federal loan options, being ineligible for federal education loans, and parents unwilling to borrow for their children's education.

If you have exhausted all of your federal loan options, a private education loan may help you to bridge the gap in covering your college expenses.

That being said, if you have exhausted all of your federal loan options (Student and Parent PLUS Direct Loans), a private education loan may be your only choice to covering your education expenses.

Not exact matches

If a combination of these non-loan options aren't enough to cover your costs, first consider federal loans, and then private loans.

Fill gaps in cost of attendance when all other aid options (federal loans, grants, scholarships) have been exhausted

However, because private student loan lenders do not offer any respite to borrowers by way of loan forgiveness over time, individuals should carefully consider their options with their federal student loans before opting to refinance with a private lender.

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.

Before you start to panic, there are some options for you to consider to make student loan repayment less of a hassle and that is through federal direct consolidation.

Loans under the new credit facility bear interest, at our option, at (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50 % and an adjusted LIBOR rate for a one - month interest period in each case plus a margin ranging from 0.00 % to 1.00 %, or (ii) an adjusted LIBOR rate plus a margin ranging from 1.00 % to 2.00 %.

Consider ALL of your education financing options before you apply for student loans and federal aid.

However, if you lose your eligibility for federal student loans, that does not mean you are out of options.

This program is only available for certain types of federal loans and it is not an option for private loans.

Loans under the new credit facility bear interest, at the Company's option, at (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50 % and an adjusted LIBOR rate for a one - month interest period in each case plus a margin ranging from 0.00 % to 1.00 %, or (ii) an adjusted LIBOR rate plus a margin ranging from 1.00 % to 2.00 %.

Loans under the credit facility bear interest, at the Company's option, at (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50 % and an adjusted LIBOR rate for a one - month interest period plus 1.00 %, in each case plus a margin ranging from 0.00 % to 0.75 % or (ii) an adjusted LIBOR rate plus a margin ranging from 1.00 % to 1.75 %.

Private lenders do not offer the same kind of repayment options available with federal loans.

Borrowings under our credit facility bear interest at a per annum rate equal to, at our option, either (a) for LIBOR loans, LIBOR (but not less than 1.0 %) or (b) for ABR loans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans, LIBOR (but not less than 1.0 %) or (b) for ABR loans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeLoans, depending on our leverage ratio and on certain factors relating to this offering.

Although most borrowers choose to follow the 10 - year Standard Repayment Plan — a fixed monthly payment of at least $ 50 over the course of 10 years which is the default repayment plan for federal loans — there is an array of income - based repayment options available to fit everyone's needs.

Income - Based Repayment is one of four options that can make federal student loan payments more affordable.

Here are just a few of the guaranteed benefits of federal loans: low, fixed interest rates; in - school and hardship deferment opportunities; loan forgiveness options; income - driven repayment plans; no prepayment penalties; and no minimum credit score requirement.

Borrowings under the refinanced Term Loan bear interest at a rate equal to, at our option, either (a) LIBOR (not less than 1.0 %) plus 3.0 % per annum or (b) 2.0 % per annum plus the highest of (i) the Federal Funds Rate plus 0.5 %, (ii) the Prime Rate, or (iii) one - month LIBOR plus 1.0 %.

If you are considering refinancing your federal or private student loans, you should understand the various types of refinancing rates and options.

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.

The following options may be available to students in need of loans to fund their education under the federal student loan program:

Here are the income - based repayment options you may have the option of choosing for your federal loans serviced with Great Lakes — visit this page to see which federal loans are eligible for which repayment options:

While student loan borrowers may think bankruptcy is an answer to getting out from under the weight of federal or private student loans, rarely is bankruptcy an option to discharge student loan balances.

IDR is available in a myriad of choices so that nearly every federal student loan borrower has at least one option to make monthly payments based upon their income.

Borrowings under our credit facility bear interest at a per annum rate equal to, at our option, either (a) for LIBOR loans, LIBOR (but not less than 1.0 % for the term loan only) or (b) for ABR loans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans, LIBOR (but not less than 1.0 % for the term loan only) or (b) for ABR loans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans, the highest of (i) the federal funds effective rate plus 0.5 %, (ii) the prime rate, or (iii) one month LIBOR plus 1.0 %, plus a margin ranging from 3.25 % to 3.75 % for LIBOR loans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeloans and 2.25 % to 2.75 % for ABR Loans, depending on our leverage ratio and on certain factors relating to this offeLoans, depending on our leverage ratio and on certain factors relating to this offering.

First, private student loans don't usually offer the same number of repayment options as federal loans.

If you've defaulted on any of your federal student loans, contact the organization that notified you of the default as soon as possible so you can explain your situation fully and discuss your options.

This is one of the best options to stay on the road to repayment for federal student loan borrowers.

Borrowings under the refinanced Credit Facility bear interest at a rate equal to, at our option, either (a) LIBOR (not less than 1.0 % for the Term Loan only) plus 3.75 % per annum or (b) 2.75 % per annum plus the highest of (i) the Federal Funds Rate plus 0.5 %, (ii) the Prime Rate, or (iii) one - month LIBOR plus 1.0 %.

The interest rate was revised such that borrowings under the refinanced Term Loan bear interest at a rate equal to, at our option, either (a) LIBOR (not less than 1.0 %) plus 3.0 % per annum or (b) 2.0 % per annum plus the highest of (i) the Federal Funds Rate plus 0.5 %, (ii) the Prime Rate, or (iii) one - month LIBOR plus 1.0 %.

In addition, since your ability to obtain a private loan depends largely on a student's (and often their parents») creditworthiness, interest rates can vary quite a bit and can potentially be significantly higher than those available through one of the federal options we discussed earlier.

Borrowers who took out the following federal loans are eligible to take advantage of graduated repayment options:

If you have already graduated or are getting ready to graduate, it's a good idea to know all of your repayment options for your federal Direct Loans.

The Income - Based Repayment Plan (IBR), one of the income - driven repayment options, is a program for borrowers with federal student loan debt who want... Read more

Refinancing a federal or private student loan can be the most affordable option, but you'll never know until you apply — and make sure you fully understand the terms and conditions of the loan you are considering.

Refinance is a great option if you have a mix of private and federal loans and want a lower interest rate.

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.

All available rates and fees are lower than the Federal Direct PLUS Loan, and are based on one of three repayment options you can choose from to meet your needs.

Because of this, refinancing can be a good option for private student loan borrowers or for those with a combination of federal and private student loans.

With federal Parent PLUS loans, you have the option of deferring your loan until up to six months after your child drops below half - time enrollment.

You have several choices when it comes to your federal student loan repayment options, some of which could significantly reduce your monthly student loan payment.

For example, if you have federal student loan debt, then you can take advantage of options such as income - driven repayment plans.

Lawsuits filed against one of the nation's largest student loan servicers by the federal government's consumer watchdog and two states highlight the importance of knowing your options for repaying student loan debt.

Federal loan borrowers have a range of repayment options.

«The problem is in part due to the poor economy, but on the federal loan side, also underutilization of flexible repayment options such as income - based repayment.»

If you exhaust all of your federal student loan options, and still need more money to complete your degree, private loans can help fill the gap so you can finish school.

Refinancing is offered by private lenders, not the government, so it's not a great fit for those planning to take advantage of federal repayment options such as income - based repayment or public service loan forgiveness.

Their only option for income - driven repayment is to combine PLUS loans in a federal Direct Consolidation Loan and then repay the new consolidation loan under an Income Contingent Repayment (ICR) plan, the least generous of all plLoan and then repay the new consolidation loan under an Income Contingent Repayment (ICR) plan, the least generous of all plloan under an Income Contingent Repayment (ICR) plan, the least generous of all plans.