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Alexis Rhiannon Alexis Rhiannon - 1 Read - 1 Ryan Wangman - 1 — - 1
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Stafford forbearance Unsubsidized Chevron Los Angeles disbursement
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☆ SAVE Plan: Decoding the New Income-Driven Repayment (IDR) Option
  + stars: | 2024-05-07 | by ( Alexis Rhiannon | Ryan Wangman | Sarah Silbert | ) www.businessinsider.com   time to read: +5 min
An income-driven repayment plan may be a good choice if you can't handle your monthly payments. The SAVE Plan is a simplified income-driven repayment (IDR) plan, which aims to provide more affordable student loan payments for borrowers with low to middle incomes. The SAVE Plan replaces the previous variations of IDR plans (Income-Contingent, Income-Based, Revised Pay As You Earn). The SAVE Plan calculates your payment based on a smaller percentage of your discretionary income compared to older IDR plans. Read more Read less Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.
Persons: Alexis Rhiannon Alexis Rhiannon, Read, Ryan Wangman Organizations: SAVE, Federal Stafford Loans, Unsubsidized Federal Stafford Loans, FFEL PLUS, Federal Perkins Loans, Student, Upright Citizens Brigade, Finance, Northwestern University, Boston Globe Locations: forbearance, Unsubsidized, Chevron, Los Angeles
☆ Student loan interest resumes Sept. 1. What that means for subsidized vs. unsubsidized debt
  + stars: | 2023-08-31 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +2 min
Srdjanpav | E+ | Getty ImagesHow interest accrues on loansDirect Subsidized Loans are available to undergraduate students who demonstrate a financial need. Unlike that of subsidized loans, interest on unsubsidized loans starts accruing immediately upon disbursement and accrues even during deferments or grace periods, making this debt more expensive. The term Stafford Loan is an informal way of referring to Direct Subsidized Loans and Direct Unsubsidized Loans made via the Direct Loan Program. It also refers to subsidized or unsubsidized Federal Stafford Loans made via the Federal Family Education Loan, or FFEL, program. During that time, interest wasn't accruing on any loans — meaning unsubsidized loans essentially became subsidized debt for some borrowers.
Organizations: U.S . Department of Education, Stafford Loans, Department, Education Department, Program, Federal Stafford Loans, Federal Family Education Locations: disbursement, Stafford
☆ When student debt payments restart, your loan type will make a big difference
  + stars: | 2023-07-19 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +3 min
Damircudic | E+ | Getty ImagesThe looming end of a pandemic-era pause to student loan payments and interest puts a spotlight on a big difference between two types of debt: subsidized and unsubsidized loans. How interest accrues on subsidized, unsubsidized loansDirect Subsidized Loans are available to undergraduate students who demonstrate a financial need. About 30.7 million people have an unsubsidized loan, with an average balance of about $19,000, according to the Education Department. (The term Stafford Loan is an informal way of referring to Direct Subsidized Loans and Direct Unsubsidized Loans made via the Direct Loan Program. It also refers to subsidized or unsubsidized Federal Stafford Loans made via the Federal Family Education Loan, or FFEL, program.)
Persons: — Organizations: Stafford Loans, U.S . Department of Education, Department, Education Department, Program, Federal Stafford Loans, Federal Family Education Locations: Stafford
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