Federal student loans are loans with low interest levels that you don't need to pay back until after you graduate from college in Tennessee. When you submit an online FAFSA, the Department of Education generates a student aid report that details the types of loans for which you qualify in Tennessee. You are required to demonstrate a certain level of financial need to be eligible for federal loans The government determines your financial need by analyzing the income of both you and your parents if you are considered a dependent.
You are required to fill out and submit an online FAFSA in order to be considered to receive federal aid in Tennessee. After you submit the FAFSA, you will be considered for federal student loans, work study and college grants. The Department of Education sets the eligibility guidelines for student loans in Tennessee. They'll consider a number of factors such as net assets, income number of family members, and living expenses when identifying your financial need. Contact our pleasant associates for more information.
In today's economy, many workers have experienced job loss and financial hardship in Tennessee. If you've lost your job, and have student loans, many loan programs include forbearance and deferment benefits, allowing you to postpone payments for a pre-determined period of time. Although some lenders will let you defer your loan payments, others don't, and still other lenders handle forbearance on an individual basis. Call our reps right now for additional information on the best college loans available to students in Tennessee.
A Stafford loan is a subsidized federal loan given to graduate and undergraduate students in all American states including Tennessee. Stafford loans are affordable because they have low interest rates that are fixed. Interest rates for graduate students are usually as low as 6.8 percent. Undergraduate students can take advantage of interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Tennessee, a Stafford loan doesn't require application fees, collateral, or a high credit rating. Call our associates today to learn more.
You'll find three different types of federal student loans issued by the federal government available to students attending college in Tennessee. These loans are the Federal Stafford Loan, Federal Parent PLUS Loan, and private student loans. Stafford loans can be taken out under the student's name. This type of loan does not require credit checks or collateral. Parent PLUS loans are aimed toward parents of undergraduate students. With a Tennessee college student loan, parents can borrow as much as 100% of their son or daughter's tuition. Third, private student loans are credit-based, unsecured loans available to Tennessee students.