For most federal student loans, you must start making payments six months after leaving school. The six-month period following school where you don’t have to pay is called a “grace period.” Federal student loans require online “exit counseling” when you ...
Federal student loans do not transfer to another person if you die. Your relatives can notify the loan servicer, and the loans will be canceled. In the case of total and permanent disability of the student borrower, federal student loans ...
Unless you arrange for a different repayment schedule with your loan servicer, the standard repayment schedule is 120 months (10 years). Your servicer can tell you about programs that allow you to extend your repayment term. Extending the term of ...
At the end of each year, your servicer will send you Form 1098-E by mail or through its website. This form details how much interest you have paid on your student loan during the year. In general, up to $2,500 ...
If you are financially able to do so, it may make sense for you to pay off your student loans early. Lenders typically call this “prepayment in full.” Generally there are no penalties involved in paying off your student loans ...