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Federal student loans are eligible for consolidation through the U.S. Department of Education’s Direct Consolidation Loan program. Private student loans can be combined through a process more ...
Lose progress toward federal forgiveness programs: Consolidating into a Direct Consolidation Loan could cause you to lose your progress on federal programs like PSLF or an existing income-driven ...
"FFELP Consolidation for Students Enrolled or In-Grace: A How-To Guide for Financial Aid Administrators" (PDF). National Student Loan Program. Archived from the original (PDF) on 2006-10-05 cite journal}}: Cite journal requires |journal= Burd, Stephen (2005-08-05). "House Committee Approves Bill to Extend Higher Education Act". Chronicle of ...
The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 qualifying monthly payments under an income-driven repayment (IDR) plan.
In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public safety, public welfare, and public works, among others.
Private student loan programs generally issue loans based on the credit history of the applicant and any applicable cosigner, co-endorser or coborrower. [9] Students may find that their families have too much income or too many assets to qualify for federal aid, but lack sufficient assets and income to pay for school without assistance. [ 10 ]
You have high-interest private student loan debt. Your new loan (whether federal or private) carries a much lower APR than your current student loan debt. See related: How to consolidate student loans
Virginia Housing is a quasi-government agency. The governor appoints an 11-member Board of Commissioners. [2] However, the authority is self-supporting and does not use tax dollars to fund its lending programs. Tammy Neale, its Chief Executive Officer since 2024, heads a leadership team of twelve divisional managers. [1]