What are the three main types of federal student loan?

http://corefitnessnyc.com/?_escaped_fragment_=denise/c5jw By | April 5th, 2022|Categories: Virginia payday loans no credit check|

What are the three main types of federal student loan? Private Student Loans Private student loans come from banks, credit unions, and other financial institutions. The limits vary by lender but generally max out at the total cost of attendance at the school you or your child attends. In addition, most private lenders have a maximum loan amount that can’t be exceeded no matter how costly your school is. To apply for a private student loan, contact the lender directly. Annual and Aggregate Loan Amounts An important limiting factor when it comes to student loans is the total amount you borrow each year and in the aggregate over the course of your college career. Usually, your aggregate limit as a graduate or professional student includes amounts borrowed (but not yet repaid) as an undergrad. Likewise, aggregate loan limits for private loans usually consider amounts borrowed through federal loans. Federal Direct aggregate limits are affected by your status (dependent or independent) as well as your parents’ eligibility to take out a Federal Direct Parent PLUS loan. If they are ineligible, your annual and aggregate limits are higher.? The amount of any Parent PLUS loan is not subtracted from your Federal Direct loan limit. Your limit is affected by whether your parents are eligible or not. Keep in mind that aggregate limits are not lifetime limits. As you pay down your student loan debt, your cumulative limit is refreshed. […]