Deferment You can receive a deferment for certain defined periods. A deferment is a temporary suspension of loan payments for specific situations such as reenrollment in school, unemployment, or economic hardship. For a list of deferments, click here. You don’t have to pay interest on the loan during deferment if you have a subsidized Direct or FFEL, Stafford Loan or a Federal … [Read more...] about What is the difference between deferment and default?
For specific information about loan forgiveness program, please visit http://studentaid.ed.gov/ and search “loan forgiveness.” Public Service Loan Forgiveness (PSLF) The Public Service Loan Forgiveness Program was created to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, you may qualify for forgiveness of the … [Read more...] about How does loan forgiveness work?
Graduating Seniors, Congratulations on your upcoming graduation! We would like to take this opportunity to congratulate you on your graduation and to offer some helpful reminders to create a smooth transition for you as you leave Missouri State University: Complete your Exit Loan Counseling at: http://www.nslds.ed.gov/nslds_SA/SaEcWelcome.do Determine your total federal … [Read more...] about Reminders for Graduating Seniors
I recently visited Tracy Glasessgen's GEP 101 class, and her students had some excellent questions about finances. One question I was asked completely stumped me: "What is the average income for students in college?" It's a tough question to answer. Some students work full time while in college, others may participate in the work-study program. Still others might not have … [Read more...] about What is the Average Income for Students in College?
I've had the pleasure of going and speaking to several campus organizations and GEP 101 classes about financial management. Throughout my presentations, there have been fabulous questions, some of which I haven't been able to answer in class or during the presentation. So please see below the answers to some useful questions. Also, if you have any questions feel free to … [Read more...] about Real LIFE Questions Answered