Hi Rebecca. Your federal student loans enter repayment once you drop below half-time enrollment. You can get help to pay back your loans! Have you considered applying for income-driven repayment. Your payment could be capped at 10% of your discretionary income. Learn more and apply: https://blog.ed.gov/2016/02/which-income-driven-repayment-plan-is-right-for-you/
Not sure where to begin your search? Here’s our list, in no particular order, of some of the best private student loans offered by the top lenders. To compile it, we looked for established lenders offering competitive rates and additional benefits which are detailed below. Of course, there are other great choices out there, but think of it as a jumping-off point as you start your research.
There might also be times when the school you included on your FAFSA selects you for verification. If that happens, you might simply need to prove extra documentation to confirm what you entered on your FAFSA. According to Federal Student Aid, this isn’t something to worry about — some schools might do this randomly, while others require it for everyone.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
If Lender agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, the borrower may continue to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Lender has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.
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