Student Loan Insider
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What loan types qualify for Public Service Loan Forgiveness (PSLF)?
Public Service Loan Forgiveness (PSLF) is the most well known and popular Student Loan Forgiveness program. There are multiple parts to your payment qualifying (you need 120 qualifying payments.) One part is you must have a certain type of loan. All loans must be Direct Loans. If your loans are not Direct Loans (which means they are probably FFELP) they can be consolidated to become Direct if eligible. Please note that private loans are not eligible and cannot be consolidated.
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Related topics : student loan forgiveness public service / loan forgiveness direct consolidation
Review of FFELP Loans, Direct Loans, Private Loans, and Parent PLUS Loans
The main loan types are FFELP Loans, Direct Loans, Private Loans, and Parent PLUS Loans. Depending what type of loans you have matters for different programs such as Extended plans and qualifying for Public Service Loan Forgiveness. Parent PLUS Loans are loans taken out by parents used for students education and private loans rules depend on the rules of the individual program since it is not controlled by the Department of Education.
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Related topics : student private loan / loan direct servicing
Will consolidating my student loan save me interest?
One of the most basic reasons people consolidate their federal student loans is to save interest. As you will in today's video, this may not be the case all the time.
http://www.studentloaninsider.org/?p=1620
Related topics : consolidation student loan / federal loan consolidation
How to complete an In-School Deferment form
The In-School Deferment is very key if you are currently in school at least half-time but you have not been updated by your school. Your school determines your enrollment status. Your status can also be updated through the National Student Clearinghouse or National Student Loan Database system. Make sure each section is filled out entirely and that the school puts both the name AND title of authorized official.
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Related topics : national loan student database
Enrollment Basics: Who determines, how to update, and what is half-time
Enrollment status can be really confusing when it comes to student loans. Many people are confused on many points. Here are the basics of what many people get confused on: Your school determines what is half time. If you are at least half-time but it is not updated, you must contact your school and either have them complete an In-School Deferment or update National Student Clearinghouse or National Student Loan Database System to update your servicer.
Related topics : national loan student database
Student Loans and Taxes: Breaking down the 1098T, 1098E and 1099C forms
Taxes are inevitable and if you have student loans, it makes it more confusing. There are 3 forms you have to worry about: a 1098T is a form you get from your school that is eligible education expenses. A 1098E is eligible loan interest and a 1099C is eligible loan cancellation debt that has to be added to your other income (if you have 20k in income and 30k in forgiveness, you will have to claim 50k in income). Cancellation occurs for things like IBR plans and Disability but not for Public...
Related topics : student loan forgiveness public service
Who can claim student loan interest on taxes
Many people are unsure of how when you can can #interest on your #studentloan #taxes. The key is who took out the loan, the interest has to be in the borrowers name and cannot be made by a third party.
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Related topics : interest student loan
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