Alternatives to Direct PLUS Loans for Parents As a parent, you may wonder if borrowing for your student’s education is best done through Direct PLUS Loans, or if you should pursue other avenues. The following are just some of the differences you’ll find between private industry loans and Direct PLUS Loans. Home Equity or Private/Personal
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Alternative/Private Student Loans Because alternative loans are funded and administered by private lenders, each has its own unique terms and conditions. The following information will provide some general guidance, but you must obtain details about specific loans from the lender. Only use alternative loans as a last resort in funding your education. Application The federal
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Options for Defaulted Federal Student Loans If you got behind on your student loan payments and are now in default, don’t give up hope; you CAN get back on track! You do have several choices for repaying a defaulted student loan: Talk with your loan holder/servicer to decide what’s best for you. If you are
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Direct Consolidation Loans Consolidation can assist you with managing your student loan debt. It allows you to combine multiple student loans together, resulting in one loan payment and one loan with the William D. Ford Federal Direct Loan Program.
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Direct PLUS Loans for Parents Interest Rate Disbursement Date Interest Rate 7/1/2026 – 6/30/2027 9.07% 7/1/2025 – 6/30/2026 8.94% 7/1/2024 – 6/30/2025 9.08% 7/1/2023 – 6/30/2024 8.05% 7/1/2022 – 6/30/2023 7.54% 7/1/2021 – 6/30/2022 6.28% 7/1/2020 – 6/30/2021 5.3% 7/1/2019 – 6/30/2020 7.08% 7/1/2018 – 6/30/2019 7.60% 7/1/2017 – 6/30/2018 7.00% 7/1/2016 – 6/30/2017 6.31%
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Borrow Student Loans You must repay student loans! You should exhaust other sources of financial aid that you typically don’t have to repay (such as grants, scholarships, and work-study) before you apply for loans. Student loans should be an absolute last resort. If you decide to borrow, learn more about things like how to apply, how much you can borrow, loan cancellation,
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Guide to Life After High School: Senior Year Get Prepared for Life After High School Some people know from an early age exactly what they want to be when they are adults — and how they can get there. Others aren’t sure of their plans, and that’s okay too. Regardless of what you want to
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By Marlene Seeklander In what is likely an attempt to have all bases covered, schools have been adding programs to the Eligibility and Certification Approval Report (ECAR) that aren’t required. The Department of Education (ED) said it wants the practice to stop – in part to reduce the workload on schools. In a June 15 Electronic
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By Marlene Seeklander ACT test takers now have a shorter test and the option of taking the science section. Last spring, ACT introduced enhancements to the national test online and those enhancements have now been extended to national paper-pencil test takers. These enhancements include: According to ACT, the enhancements are designed to allow students to finish
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By Marlene Seeklander As the focus on the value of career training increases nationwide, the Department is reminding financial aid offices about exceptions to the ability-to-benefit requirements. Students who otherwise might not be eligible for financial aid because of the ability-to-benefit standards, may be eligible for financial aid in specific career programs, but only if the
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