ABOUT

Fed loan is an organization which provides loan for students, established by the Pennsylvania Higher Education Assistance Agency (PHEAA)

CRITERIA

Must be a student Master Promissory Note ( certain condition)

PROCESS

School will decide the amount of loan, Funds arrive at school to use

REPAYMENT SCHEDULE (STANDARD)

>> Tenure: 10 years unconsolidated loan >> 30 yrs for consolidated >> Premium $50 per loan

REPAYMENT SCHEDULE (GRADUATE)

>> Begins with interest only >> Begins with lower and increase after every two years >> Tenure: 10 years  unconsolidated loan, >> 30 yrs for consolidated

MODE OF PAYMENT

>> Online payment >> Mobile app >> Direct from account >> Setup advance payment

POSTPONING PAYMENT

Due to any financial problem you can stop your payments temporarily with some conditions

FORGIVNESS OF LOAN

If you are employed in public service organization Serving in AmeriCorps (fulltime) Peace Corps volunteer Forgiveness for mentally or physically disabled person

MISSED PAYMENT

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CONSOLIDATION

If you have more than one education fed loan you can combined all loan into a single one.

FOR STUDENT

you can check the status of your loan, and after completion of loan a paid in full letter will be provided.