by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
William D. Ford Federal Direct Loan (Direct Loan) Program Student loans provided by the U.S. Department of Education to enable a student or parent to pay for education after high school. Eligible students and parents borrow directly from the U.S. Department of...
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
Servicer(s) An organization that manages the student loan, provides customer service, and collects student loan payments on behalf of the loan holder.
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
Rehabilitated Student Loan A defaulted student loan is rehabilitated if the borrower makes nine voluntary, reasonable, and affordable monthly payments within twenty days of the due date during ten consecutive months.
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
PLUS Loan Direct PLUS Loans are student loans for eligible graduate or professional students and eligible parents of dependent undergraduate students to help pay for the cost of the student’s education at participating schools.* Includes Direct PLUS Loans (made...
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
Partial Financial Hardship A circumstance in which the annual amount due on all eligible student loans at the time you enter repayment as calculated under the 10-year Standard Repayment Plan exceeds 15% of the difference between your Adjusted Gross Income and...
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
On-time Payment made within 15 days of the scheduled due date.
