What if I decide to repay my Federal Direct Student Loan early?
- Then it's paid off early and you've saved yourself some interest. There is no penalty for prepayment of your student loan
- it depends, is your direct loan subsidized, unsubsidized or a combination? on sub loans, you are not liable for interest payments for your loans while you're in school or for six months til you are no longer enrolled at least half time. this would mean that any payments you make will go directly to your principal which means that your overall payments would drop once repayment starts since your interest charges would be lower due to the smaller principal. if your loan is unsubdized, then it is accruing interest while you are in school any payments received while your loan is in deferment would be first applied to interest charges and then to principal. as stated earlier, there is no penalty for prepayment
- Yeah, you'll save yourself the interest on it. Fed direct loans also don't have a prepayment penalty, I don't think, though you should look into that. Consider, however, what your interest rate is. I have two sets of loans, one with a set rate of 6. 65% and one with a rate of 2. 85%. I'd pay off the 6. 65% if i had the funds, but even if I won the tomorrow I wouldn't pay off the ones at 2. 85% because you can make a lot more by investing it. A lot of online banks will give you a 4 - 5% return on your deposits, so it makes more sense to take the money you'd use to pay off the loan and just deposit it or even buy low - risk bonds, etc. , if they have a higher return than your interest rate because that will be more beneficial for you in the long run
- You will save some interest. Which is nice. But the interest rates on these loans are modest, and if you have credit card debt, pay it off first: credit card interest rates are NOT modest
- If you pay all of it, then you don't have to pay interest, if you only some of it, then you pay less interest
Knowledge Base
Good student loan consolidation lenders?
i am looking to consolidate my student loans with a federal consolidation loan. i know the interest rates are based on federal regulation, but i am wondering about the other offers / benefits. if you have consolidated loans with a company, can you share personal experience about your lender - (student loan program)
Have of guys federal school loans to pay part of credit card debt?
i will be attending graduate school this coming fall. while relocating i have racked up some credit card debt. i intend to work while in college but for the first month i will be strapped for cash. i know you can only use your federal school loans for tuition, room (college loan consolidation)
Help! Where I find a good student loan? ? ? ? ?
a 'good student loan" is one that you fully intend to pay back in a timely fashion. salliemae.com / much like tax liens, student loans are government debt and will not. a 'good student loan" is one that you fully intend to pay back in a timely fashion. salliemae.com / (loans for college)
Knowledge Base: Federal Student Loan
What is student loan company?
student services at your school can help you with what is available localy and nationally. they all have to follow federal guidelines so any differences might be just packaging. there you go : index - go.com / student - loans - finance. asp. they all have to follow federal guidelines (federal direct student loan consolidation)
Do you think its worth taking student loans out, if you can improve your future?
so my old plan of an auto loan and community college. yes, it's definitely worth taking out the federal student loans. keep your grades up and you might qualify for government. if you go to google can type in weird scholarships you can find a lot of ways to get (federal government student loan)
student loan bankruptcy discharged 1987 - court agreed. 20 yrs later, $1, 000 monthly garnished? legal?
a state judge can not discharge a federal loin. you can not file bankruptcy on a student loan and your lawyer should have known this. you can not file bankruptcy on a student loan and your lawyer should have known this. a state judge can not discharge a federal loin. (federal student loan)
student loan bankruptcy discharged 1987 - court agreed. 20 yrs later, $1, 000 monthly garnished? legal?
it will not be easy the government never makes mistakes. a state judge can not discharge a federal loin. you can not file bankruptcy on a student loan and your lawyer. you can not file bankruptcy on a student loan and your lawyer should have known this. a state judge (federal student loan)
Can collection agency for my defaulted student loan who intercepted my tax money access my bank act?
those student loan people can find anyone! i think we should put them on bin laden!. no dept collectors can not access your bank account, if its a federal loan the government can. try paying back that student loan. student loans, also, can be deferred, which is better than running (federal student loan)
Knowledge Base: Federal Direct Student Loan
I m to set up to pay my student loans federal direct online. They a phone number my bank
my bank is pnc. do i give number my local branch?. the main number should get them what they need. 1 - 888 - pnc - bank. the branch number will suffice. i think they use the number to verify at times the account & routing numbers if there's a (federal direct student loan)
What if I decide to repay my Federal Direct Student Loan early?
if you pay all of it, then you do not have to pay interest, if you only some of it, then you pay less interest. yeah, you will save yourself the interest on it. fed direct loans also do not have a prepayment penalty, i do not think, though you (federal direct student loan)
Are Student Loan Forgiveness programs related to borrower age?
aessuccess.org / manage / cant_make_payment / federal_loan_forgiveness. shtml. ford direct loan. it will give you a 0 balance per month unless you can pay more and. there is nothing specific to age when looking for loan forgiveness. your best bet is to look at some of the options listed on (federal direct student loan)
I am a graduate student. If I am awarded, do I to pay federal direct loan away. ?
i am a graduate student. i received federal loan at the begining of the semester and then i received fellowships which make the total aid more than cost of attendance. do i need to pay back direct loan amount i received in this semester right away. yea you should pay (federal direct student loan)
conservatives: federal student loan program?
i thought you supported the average middle cl family. do you think it helps the students, just like how you think the lack of social programs helps the poor? en. wikipedia.org / wiki / federal_direct_student_loan_program. they think only the rich's kids should be able to go to college. i hear (federal direct student loan)
