Federal student loans are loans with low interest levels that you don't have to pay back until after you graduate from college in Indiana. Once you submit an online FAFSA, the Department of Education generates a report that details the loans that you qualify for in Indiana. You must demonstrate at least some financial need to be eligible for federal aid. The government determines your financial need by examining the income of you and your parents if you're considered a dependent.
In today's economy, many workers are experiencing job loss and financial hardship in Indiana. If you've lost your job, and have an education loan, many loan programs include deferment and forebearance benefits, enabling you to defer making payments for a pre-determined period of time. While some lenders allow you to defer your education loan payments, others don't, and still other lenders handle forbearance on an individual basis. Contact our associates today to locate college loans in Indiana that'll meet your needs.
In Indiana and other areas of the country, a Stafford loan is a government subisidized loan for undergraduate and graduate students. Stafford loans are affordable because they have low interest rates that are fixed. For example, graduate students can take advantage of interest rates as low as 6.8 percent. Undergraduate students can often secure interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Indiana, a Stafford loan doesn't require application fees, collateral, or a high credit rating. Call our representatives today to learn more.
When it comes to getting a student loan to pay for college, private student loans offer many advantages. For example, many private student loan programs in Indiana don't make you start making payments until you have graduated. Other private student loan programs require that you start paying the loan back right away. With a few private student loan programs, you may make interest-only payments while you are still in school. This allows you to pay down the interest on your Indiana student loans as quickly as possible and save money.
Student are required to fill out and submit an online FAFSA to be considered to receive federal aid in Indiana. Once you submit the FAFSA, you'll be considered for federal student loans, work study and college grants. The Department of Education sets the eligibility guidelines for Indiana student loans. The government takes into consideration factors including assets, family expenses, income, and the number of family members when determing your financial need. Call our pleasant representatives to learn more.