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Retain federal student loan benefits: When you consolidate federal student loans, you can still take advantage of income-driven repayment plans, forgiveness options and repayment hardship plans in ...
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
In the United States, the Federal Direct Student Loan Program (FDLP) includes consolidation loans that allow students to consolidate Stafford Loans, Graduate PLUS Loans, and Federal Perkins Loans into one single debt. [1] [2] [3]
Key takeaways. Direct Consolidation Loans and private student loan refinancing helps make federal student loans more manageable by rolling several balances into a single loan product.
If your federal student loans are in default (meaning that you’ve missed 270 days of payments), you can take action in one of two ways: student loan rehabilitation or consolidation.
Direct Consolidation: These loans enable the student to consolidate multiple federal loans into one loan at no added cost. If a student has multiple loans, he or she can consolidate multiple monthly payments into one monthly payment at the average rate of the loans being consolidated. [ 13 ]
If you took out a student loan with Sallie Mae before 2014, ... while direct subsidized and unsubsidized loans are available to all undergraduates, with an interest rate of 5.50%. Parent PLUS ...
Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation. The Education Department ...
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