FAQ About Federal student loan consolidation
Federal student loan provided by US department of education where you can combine your 1 or more than one federal loan into one loan .. The "HEA" Higher education Act prividing student loan consolidation .. So there is lot of question about student loan forgiveness , loan consolidation thats why we provide you some common question answers for the authority and experts ..Question : How do I qualify for work-study?
Answers from : “Bill
Cavin”, the Smart-Track Program Director for the State University of New
York
To qualify for work-study, you must be a U.S. citizen or an
eligible non-citizen who demonstrates financial need, and be attending a
participating school as a regular student. In order
to apply, complete the FAFSA as early as possible. If you receive a Federal
Work-Study award, you should follow up by talking with the financial aid office
at your school about work-study opportunities. Many schools have a work-study fair early in the semester to
make it easier for students to find and apply for work-study jobs.
Question : What is work-study?
Answer from “Trina Snyder”,
the Financial Aid Manager for "Kaplan Higher Education College"
Federal Work-Study
provides part-time jobs for undergraduate & graduate students with
financial need.
These jobs allow
students to earn money to help pay education expenses. The program encourages
community service work and work related to the student’s course of study. Many
schools offer work-study jobs in the library, administration office, computer
and science labs, and many more locations. The amount you earn working at your
Federal Work-Study job can’t exceed your total Federal Work-Study award. Check
with your school's financial aid office to find out if your school participates
in the program.
Question : How do I make payments on my Federal Student Aid loan?
Answer from : “Barbara Hoblitzell”, a
Management and Program Analyst for the United States Department of Education
Make your payments
directly to your loan servicer. The easiest way is to pay through automatic
payments from your bank account. Contact your servicer for help making a
payment or setting up automatic payments. If you’re not sure who your loan
servicer is, go to "StudentAid.gov/login" to find out. If you have a Perkins
Loan, contact the school where you received the loan. Your school or servicer
can also help you if you can't afford your payment or think you might be late
on your payment.
Question : What is Income Based Repayment?
Answer from “Amy Cable”, Director of Financial Aid for Baton Rouge
Community College
The Income-Based
Repayment Plan is one of the federal student loan repayment plans that fall
under a category we call “income-driven repayment. “If you can't afford your
monthly payments, income-driven repayment is for you. Payments are based on
your income, so if you make little, you pay little. If you still have
questions, call your loan servicer and discuss whether one of these plans is a
good fit for you.
Question : What types of employment qualify for Public Service Loan Forgiveness?
Answer From : “Taylor Stanek”, a Legislative
Specialist for the U.S. Department of Education's Office of Legislative and
Congressional Affairs
Employment that
qualifies for forgiveness must be a job that requires at least 30 or
more hours a week in a public service organization. Jobs that qualify provide
specific public services, such as public education or public health, with
employers such as federal, state, local, or tribal government organizations,
and nonprofit organizations. Some common professions that most likely qualify
are nurses, teachers, law enforcement officers, and public-interest lawyers,
among others. Employment qualification determinations are not available until
you submit the Public Service Loan Forgiveness Employment Certification Form.
Question : How can I keep track of my balance federal student loans?
Answers From “Monique Boyd”, Director of Financial Aid at the “University
of Maryland”, tells you how to keep track of your federal student loan balance
If you want a general
idea of your balance, check “My Federal Student Aid” at "StudentAid.gov/login". But for an exact current
amount and all the details, make sure you check with your loan servicer.
They’ll provide information on how to keep track of how much you owe.
Student aid center :
If you have Student Loans you may qualify for any of the
student loan forgiveness programs that are available to borrowers. You may be
eligible for principal reduction, loan forgiveness, or a complete loan
discharge depending on your individual circumstance..
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