Fed loan is an organization which provides loan for students, established by the Pennsylvania Higher Education Assistance Agency (PHEAA)
Must be a student Master Promissory Note ( certain condition)
School will decide the amount of loan, Funds arrive at school to use
>> Tenure: 10 years unconsolidated loan >> 30 yrs for consolidated >> Premium $50 per loan
>> Begins with interest only >> Begins with lower and increase after every two years >> Tenure: 10 years unconsolidated loan, >> 30 yrs for consolidated
>> Online payment >> Mobile app >> Direct from account >> Setup advance payment
Due to any financial problem you can stop your payments temporarily with some conditions
If you are employed in public service organization Serving in AmeriCorps (fulltime) Peace Corps volunteer Forgiveness for mentally or physically disabled person
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If you have more than one education fed loan you can combined all loan into a single one.
you can check the status of your loan, and after completion of loan a paid in full letter will be provided.