During deferment, interest will also accrue but the main difference here is that government will be responsible for the payment of the accrued interest on
certain types of federal student loans.
There are
many types of federal student loans out there — direct, subsidized, unsubsidized, Stafford, you name it — and it's possible you can save money by consolidating those loans through refinancing.
Today, not only are there
several types of federal student loans that are not credit - based, but federally funded, subsidized student loans generally offer one of the most flexible types of loans available.
There are several different
types of federal student loans available to borrowers, each having its own parameters for how much you can borrow and for which kind of degree, along with different interest rates and accumulation of that interest over time.
All types of federal student loans can be consolidated together except a Direct PLUS Loan that was taken out by a parent to help pay for a child's education (student PLUS loans can still be consolidated).
The types of federal student loans you have might also determine the IDR plans you're eligible to enroll in.
If you have both Direct Loans and other
types of federal student loans that you want to consolidate to take advantage of PSLF, it's important to understand that if you consolidate your existing Direct Loans with the other loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolidated.
The type of federal student loan offered is dependent on the details of the FAFSA.
The chart below shows
the types of federal student loans that you can repay under each of the income - driven repayment plans.
However, during a forbearance you are responsible for paying the interest that accrues on
all types of federal student loans.
Interest rates on
a type of federal student loan doubled July 1, and Maloney wants to reverse that — for starters.
On the issue of college affordability, Katko co-sponsored bills that allow individuals with
some types of federal student loans to refinance more than once and widen qualifications for Pell Grant recipients.
There are three
types of federal student loans.
The discharge rule applies to
all types of federal student loans, including undergraduate loans, graduate loans, Stafford loans, Perkins loans, and Parent PLUS loans.
Federal Stafford Loan - The main
type of federal student loan is called the Stafford Loan.
The company's website says the name change came about because, in dealing with clients who had student loan debt, «It became obvious to Randell and her certified counselors that there was a huge need for
the type of federal student loan forgiveness programs she could offer.»
This application is also used to determine if you'll receive a Perkins loan,
another type of federal student loan.
Virtually
every type of federal student loan includes a fixed interest rate, which allows you to predict future financial obligations and budget your monthly expenses.
There are two
types of federal student loans for undergraduates: subsidized and unsubsidized.
You will only be eligible for
this type of federal student loan forgiveness if your school's misleading activities or other misconduct directly relate to the loan or to the educational services for which the loan was provided.