The option to defer federal student loans may feel like a safety net — even if you've never done it, you like the idea that you could if you needed to. Maybe that notion has even stopped you from refinancing to a lower interest rate with a private lender. That means you mean be paying more than you need to for a benefit that you may or may not use.
So can you defer private student loans if you decide to refinance? The short answer: No, you can't defer private student loans in the traditional sense. But the long answer is much more nuanced. Many private lenders offer some form of assistance if you experience an economic hardship.
Figuring out how to fill out your tax return each year is enough to send anyone running for the exit. But this year your student interest loan deduction doesn't need to be a source of anxiety or frustration for two reasons:
If a limited credit history or a blip on your credit report have been keeping you from borrowing money, a new development for 2019 may change your luck.
Fair Isaac Corp., which you likely know as FICO, is introducing a new method for scoring credit — the UltraFICO — that could improve your credit score and give you a better chance of getting that loan you've been after. How? UltraFICO considers not just your borrowing history but also your bank transaction history.
So, you just got a notice saying you need to register your student loans with FedLoan, and you're wondering if it's a scam.
Here's the scoop: FedLoan Servicing is a legit company. It's one of several student loan servicers contracted by the U.S. Department of Education to handle federal student loans.
Managing a serious disability is difficult, no matter what your life situation. Throwing in student loan debt on top of an unexpected medical condition can make things feel downright unmanageable.
Fortunately, some borrowers who are disabled may be able to discharge all of their federal student loans. If you have federal loans and are considered permanently and totally disabled, you may qualify.
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