Richardson Law Offices
Rank: 627 / 5440
11 selected videos
Subsidized v. Unsubsidized Student Loans; The Important Differences
The U.S. Department of Education’s Stafford student loan program has both subsidized and unsubsidized loans, and knowing the difference between the two is very important.
Subsidized loans are available only to those in financial need. This means that the school determines the amount you can borrow, and it cannot exceed your need.
Subsidized loans are only available for undergraduate school, while unsubsidized loans can be used by graduate students as well.
With subsidized loans, the...
Related topics : loan subsidized and unsubsidized / student loan education
FFEL and Direct Federal Student Loan Differences
http://bit.ly/1huK66S When it comes to federal student loans, the program under which you obtained them can make a difference. Is the loan FFEL or Direct? FFEL is the Federal Family Education Loan program. The William D. Ford Direct Loan program originates the loans directly, rather than private banks. Find out more!
Related topics : direct loan federal / federal loan bank / student loan education
Car Title and Pay Day Loans Are a Bad Idea!
http://bit.ly/19AyIq7 The problem with these types of loans is the exorbitant interest. Don't do it! Lots of legitimate banks in New Jersey will make a secured loan to you with your car as collateral. Even if your credit rating isn't all that good, you will not pay rates approaching anywhere near what these companies charge.
Related topics : car loan bad credit interest rate / car bank loan rates
Public Service Loan Forgiveness Program for Federal Student Loans
http://bit.ly/ZsYDrh PSLF is a program created to encourage people to enter and continue to work full-time in public service jobs. If you qualify for an income based repayment program (IBR or ICR) that allows you to extend your loan payment term past ten (10) years, it allows you to make 120 monthly payments on your loans and then discharge any unpaid balance! Find out more!
Related topics : student loan forgiveness public service / federal student loan
What is the National Student Loan Data System?
http://bit.ly/11TbTrj The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It provides a centralized, integrated view of your loans and grants, from aid approval through closure. The site is available 24/7, except for periodic maintenance of the database which can occur on the weekends or after hours.
Related topics : national loan student data system
Disability Discharge for Federal Student Loans
http://bit.ly/1l2UZBA Yes, it is possible to get your federal student loan balance forgiven if you become totally and permanently disabled. If you are on Social Security Disability with a 5- or 7-year review, then the Department of Education will accept that as evidence of disability. Find out more!
Related topics : get student loans forgiven / federal student loan
Default Penalties on Federal Student Loans
http://bit.ly/10x9Iqa There are many bad things that can happen to you if you default on your federal student loans. But did you know that defaulting can cause your loan balance to go up? When you default on a loan, a default fee that is assessed of 18.5% of your outstanding balance. That's right! If you defaulted owing $30,000, they will pile on another $5,550! Find out more!
Related topics : student default loan
Chapter 13 Bankruptcy Might Be the Best Solution For Your Student Loans
http://bit.ly/1te4nG0 People who have a large amount of student loans here in NJ are mainly seeking to survive financially. If you have federal loans, there are strategies for getting an affordable payment plan . But what if you have a NJ state CLASS or private loan? One solution is to file a chapter 13 bankruptcy. Find out why!
Related topics : student loan bankruptcies
Bankruptcy Discharge of Student Loans Good Faith Effort to Repay
http://bit.ly/1s73Uo6 To discharge a student loan in bankruptcy, you must prove that it presents an "undue hardship." Part of this "test" requires that there must be some good-faith effort to repay the loan. Find out more about what this means!
Related topics : student loan bankruptcies
Interest Capitalization in Student Loans
http://bit.ly/O6PRjl Has your student loan balance jumped up significantly? Are you wondering what happened? Well, this is probably because of something called interest capitalization. This is where accumulated interest is added to the principal of a loan, often increasing it significantly. Why did this happen? Find out!
Related topics : interest student loan