You may be able to borrow money to help pay for university or college tuition fees and to help with living costs you might get extra money on top of this, for example if you’re on a low income. Student loan interest is interest you paid during the year on a qualified student loan a qualified student loan is a loan you took out only to pay qualified education expenses that were: a qualified student loan is a loan you took out only to pay qualified education expenses that were. Answer to which of the following statements about federal student loans is true a the interest rate on your loan will be fixed over time b the interest rates on federal loans and private loans are similar c you can only get federal student loans if you demonstrate financial need d you do not accumulate interest on federal loans. Investment in education should be no different, but for some reason the higher-ed system and their student-loan cohorts have convinced the consumer that the question is irrelevant. Which of the following is true about student loans been a lot of hype about student loans and student debt, along with worries about the climbing costs of college tuitions this hype is leading a lot of people in the financial world to believe that student loans are in fact the next “bubble” of sorts that our world is going to have to face—and it’s only a matter of time until we feed.
Income-driven repayment (idr) plans are designed to make your student loan debt more manageable by reducing your monthly payment amount if you need to make lower monthly payments or if your outstanding federal student loan debt represents a significant portion of your annual income, one of the following income-driven plans may be right for you. Regarding student loans, which of the following is true a they are available only for undergraduate b parents (or legal guardians) must cosign c there is a limit on how much can be borrowed d there is a limit on the number of loans one can have e interest does not have to be repaid. The interest rates and repayment terms on federal student loans generally are more favorable than those you are likely to obtain with private loans it’s important to know that the us government is the largest single source of financial aid for college.
The loan must be a qualified student loan for the benefit of you, your spouse, or your dependentloans from a qualified employer plan don't count, nor do private loans from family or friends. In regards to federal student loans, the answer is a, the interest rates on your loan will be fixed over time student loans are one of the few that will keep your interest rate at a set rate over any length of time. The student loan interest deduction allows an individual to deduct any interest actually paid, not just accumulated, on a student loan during the calendar year, as long as certain conditions are met the maximum deduction is $2,500 and is subject to income limitations. Here are some of the many benefits of federal student loans: federal student loans offer low, fixed interest rates that do not depend on your credit scores and that do not require a cosigner most students will qualify for a federal student loan.
Which of the following statements about federal student loans is true the interest rate on your loan will be fixed over time if it is 6%, each year you pay 6% interest on the oustanding balance of the original loan. Which of the following statements about credit scores is true credit scores reflect how likely individuals are to repay their debts: credit scores range from the low 300s to the 800s: each person has three credit scores. Direct loans include the following types of federal student loans: direct subsidized loans, direct unsubsidized loans, direct plus loans, and direct consolidation loans withholding amount deducted by an employer from employee's earnings.
Best answer: d most long term loans have a lower rate of interest, but because of the longer period you end up paying more example - personal loan v mortgage a personal loan is over a shorter period and the interest rate could be 10% or substantially higher a mortgage is typically over 25 or 30 years. All told, subsidized stafford loans are the best student loan deal available, but eligible undergraduate students can only take out a total of $23,000 in subsidized loans, and no more than $3,500 their freshman year, $4,500 their sophomore year and $5,500 junior year and beyond. 6 true answers about public service student loan forgiveness check with your employer to see if you're eligible to participate in a student loan forgiveness program. The main types of student loans in the united states are the following: federal student loans made to students directly ( stafford and perkins loans)  these loans are made regardless of credit history (most students have no credit history) approval is automatic if the student meets program requirements.
Which of the following is an example of human capital a, a student loan knowledge learned from reading books c training videos for new corporate employees of the above are correct 12 national defense and knowledge are generally considered to be c proprietary goods d, societal goods. Student loans have a delinquency rate almost four times that of home equity lines of credit delinquency rates for student loans, though high, dropped significantly in the last two years interest rates on student loans are rising, despite changes sought by the obama administration. The interest rate on your loan will be fixed over time is the statement about federal student loans among the choices given in the question that is true the correct option among all the options that are given in the question is the first option or option a. With more than 70 percent of the country's latest degree recipients using student loans to pay for their recently earned degrees, understanding student loans has become more important than ever.
A stafford loan is a student loan offered to eligible students enrolled in accredited american institutions of higher education to help finance their education the terms of the loans are described in title iv of the higher education act of 1965 and become effective for the following year on july 1. A federal student loan is made through a loan program administered by the federal government 2 what is a private student loan a private student loan is a nonfederal loan made by a private lender, such as a bank or credit union the terms and conditions of private student loans are set by the lender, not contact or visit the following:. According to student loan help group, their program pays off the private student loan amount and then i could make 120 on time payments based on my income and have the rest of my loans forgiven i would also pay student loan help group a one time amount of $75000 to process my account. A federal loan made by the us department of education that allows you to combine one or more federal student loans into one new loan as a result of consolidation, you will have to make only one.
2) there are set limits on how much a student can borrow each year for student loans, but these limits usually increase each year as the student progresses true 1) the proceeds from a home equity loan can be used for any purpose including a vacation, tuition payments, or health care expenses. A) the interest rate on your loan will be fixed over time b) the interest rate on federal loans and private loans are similar c) you can only get federal student loans if you demonstrate financial need. Private student loans are not funded or subsidized by the federal government instead, they are funded by banks, credit unions, or other types of lenders the bank or lender – not the federal government – sets interest rates, loan limits, terms, and conditions of private student loans.