A college degree isn't free for most people, and if you borrowed money through student loans, you are responsible for paying it back. Repayment programs determine how much your monthly student loan payment amount and how many years it will take to pay back what you owe.
Before deciding which repayment program is best for you, you have to know which types of student loans you have, as it can affect your repayment options. While federal student loans have multiple repayment options from which you can choose, private loans are made by lenders with no government involvement and offer less flexibility and options when it comes to repayment. Read about each repayment plan carefully before selecting the one that best fits you.
Federal Perkins Loans are low-interest (5%) federal student loans for undergraduate and graduate students who demonstrate extreme financial need. If you are attending school at least half-time, you have nine months after you graduate, leave school, or drop below half-time status before you must repay your Federal Perkins Loans. If you are attending college less than half-time, you can check with your college or career school to determine the length of your grace period. Since Perkins Loan repayment plan options are not that same as those for Direct Loan Program or FFEL Program loans, you will want to check with your institution on Perkins Loan repayment plans.
In some instances, you may qualify to have your student loans forgiven, canceled or discharged. This means that you no longer have to repay your federal student loans. For example, some or part of your student loan could be forgiven if you end up teaching or working in public service. You may also qualify for student loan debt relief if your institution closes or you become totally and permanently disabled. Find out what circumstances qualify your loans for forgiveness, cancellation, or discharge.
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June 11, 2019
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June 6, 2019
In honor of LGBTQ Pride Month this June, Scholarships.com is recognizing the success of, and providing financial aid resources to the lesbian, gay, bi-sexual, transgender, and queer community and its allies through featured LGBTQ scholarships. These colorful LGBTQ scholarships are not only intended for those who identify as LBTQ or are questioning, but are available to LGBTQ parents and allies, as well. Below is a preview of LGBTQ scholarships that were created to provide economic mobility and equality for LGBTQ students and allies who may face unique challenges on their educational journeys. For even more LGBTQ scholarships, Parent LGBTQ scholarships or LGBTQ Ally scholarships, visit here. [...]
June 5, 2019
We're bringing the heat with these fiery summer scholarships for which you can apply this summer break. While scholarships are offered year-round, many students have more free time during the summer to devote to scholarship essays and applications, so we encourage you to prioritize financial aid in-between basking in the sun. [...]