The next benefit is that the interest rate for a Perkins Loan is only five percent, which is lower than
other federal student loan options, like the Stafford Loan, Parent PLUS Loan, and Grad PLUS Loan.
Not exact matches
However, there are many
other repayment
options and consumer protections for
federal student loans.
All
federal student loan interest rates are fixed, unlike
other lenders who may offer a variable interest rate
option to borrowers.
If you've already made qualifying payments on your Direct
Loans, but also have federal student loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
Loans, but also have
federal student loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
loans that are not eligible for PSLF, a good
option may be to consolidate your
other federal loans without including your Direct L
loans without including your Direct
LoansLoans.
The simple answer is: If you've exhausted all
other options such as
federal aid, scholarships, and grants, and still have a gap in covering your costs, then consider private graduate
student loans.
Another
option is for SEOG and the
other campus - based aid programs (
federal work study and Perkins
loans) to be recast as an emergency aid program that colleges could use to help
students with unexpected expenses such as an extra trip home to visit a sick relative, or for «completion grants» to
students facing relatively small financial barriers to finish their degrees.
This is a great
option for people who have private and
federal student loans, but you can also refinance if you have just one or the
other.
Federal student loans are the clear winner here — they are available, have interest rates that are better geared to college
students who are new to credit, a six - month grace period and deferment
options, flexible repayment
options, and
other benefits and protections.
With
federal student loans (like Stafford
loans, Perkins
loans, and PLUS
loans), your university will likely include your
options when they send you your financial aid package — along with whatever
other grants or scholarships you manage to receive.
In general,
federal student loan interest rates represent a lower - cost
option than
other lending vehicles, like private
student loans, because they range from 4.45 % to 7 %.
All
federal student loan interest rates are fixed, unlike
other lenders who may offer a variable interest rate
option to borrowers.
The good news, however, is that there are
other private lenders out there that do offer readily available refinancing
options for those that have
federal student loans.
At present, parent PLUS borrowers already have fewer income - driven repayment
options than
other federal student loan borrowers.
While you can refinance your
federal loan debt as well as private
student loans, you might want to look at
other options within the
federal system first — especially if your application for a refinance was denied.
In fact,
students that do not receive college scholarships have plenty of
other options available including
federal student loans, private
student loans, and work - study programs.
Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sou
Loans made by the
federal government, called
federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sou
loans, usually offer borrowers lower interest rates and have more flexible repayment
options than
loans from banks or other private sou
loans from banks or
other private sources.
Federal student loans offer many benefits compared to
other options you may consider when paying for college:
Student loans from the
federal government may allow you
other options for repayment, including periods of postponement if you are unemployed and payment
options that may help you in managing your
loans.
If refinancing / consolidating with a private lender or consolidating with the government isn't for you,
federal student loans also offer a few
other options to help reduce the stress of your monthly payment.
Borrowers with defaulted
federal student loans have two
options other than paying the
loans in full to get their
loans out of default: rehabilitation and consolidation.
If you have
federal student loans and want to keep their protections, you may have
options other than refinancing to lower your interest rates, so explore those first.
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Student Loans Tagged With: navy federal credit union, NFCU student loans, Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these en
Student Loans Tagged With: navy federal credit union, NFCU student loans, Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these enti
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federal credit union, NFCU
student loans, Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these en
student loans, Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these enti
loans,
Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these en
Student Loan Debt, student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entit
Loan Debt,
student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these en
student loan options, Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entit
loan options,
Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these en
Student Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these enti
Loans Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, or
other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Federal student loans are required by law to provide a range of flexible repayment
options, including, but not limited to, income - based repayment and income - contingent repayment plans / Graduated Repayment and Extended Repayment plans, and
loan forgiveness and deferment benefits, which
other student loans are not required to provide.
If you've already made qualifying payments on your Direct
Loans, but also have federal student loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
Loans, but also have
federal student loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
loans that are not eligible for PSLF, a good
option may be to consolidate your
other federal loans without including your Direct L
loans without including your Direct
LoansLoans.
On the
other hand, if you're having trouble keeping up with your monthly payments, you could opt for an income - driven repayment plan (note that income - driven plans are an
option if you have
federal student loans, but are not offered by most private
student loan lenders).
And several days later, the
federal consumer watchdog agency announced a «toolkit» designed to help public service employees — teachers, firefighters, police officers and
others — understand their
options and get started paying off their
student loans.