MEFA education loan availability is subject to MEFA’s acceptance of a completed loan application, including credit approval and fund availability for the applicable loan category at the proposed disbursement time.(PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. You must be directly employed by a qualifying employer for your employment to count toward PSLF.Federal Direct Consolidation Loans help to combine multiple loans into one, eliminating separate payments and simplifying the process.Federal Direct Consolidation Loans are available to all students holding Subsidized and/or Unsubsidized Stafford Loans, Direct PLUS Loans, Federal Supplemental Loans for students, Federal Perkins Loans, Federal Health Education Assistance Loans and Federal Nursing Loans.
Too many borrowers wait to submit this important form until they have been in repayment for several years, at which point they learn that they have not been making qualifying payments. Which types of federal student loans qualify for PSLF? Top For PSLF, you are generally considered to work full-time if you meet your employer’s definition of full-time or work at least 30 hours per week, whichever is greater.Today it is a privately owned company well known as a lender to students throughout the U. Sallie Mae distributes and holds more student loans than any other lender in the country; as such, Sallie Mae loans are often the subject of consolidation packages.Sallie Mae loans are typically used by students who require additional funding once all other options have been exhausted.Loan approval is based on the applicants credit score, which in the case of most college aged students may be low or non-existent.Federal student loan borrowers have the option of consolidating their loans via the Direct Consolidation Loan program offered by the U. That loan is then serviced by the servicer of your choosing – of which Nelnet is one!The APR in this example reflects the presence of a co-borrower.