7 Urban Myths and Information About Federal Student Education Loans

7 Urban Myths and Information About Federal Student Education Loans

In the long-run if you have federal student loans, demystifying their common myths can help you. Is it possible to split misconception from reality?

MYTH Great Lakes owns my figuratively speaking.

FACT Lenders, such as the U.S. Department of Education or banking institutions, acquire your loan.

  • Element of that which we do is:
    • Track your school enrollment and status as long as you’re at school.
    • Accept and process your loan re re payments with respect to the financial cashnetusa institution.
    • Work with you as you pay off your loans.
    • Help keep you up-to-date with details about your student education loans.
    • Originate and program your federal direct consolidation loans, as required.

MYTH Great Lakes controls my education loan rate of interest and earnings through the interest.

  • The interest is determined by the Higher Education Act as enacted and amended by Congress for federal student loans. Interest paid on federal loans either would go to the U.S. National (for Direct loans) or the lender that is individualfor Federal Family Education Loans). Additionally, as a whole, loan owners control any price reductions you could get for making use of a digital repayment technique. “7 Urban Myths and Information About Federal Student Education Loans” の続きを読む