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Parent PLUS borrowers, who are students themselves, qualify for six-month deferment of PLUS repayment.

In addition, parents who borrowed for dependents’ education after 2008 are eligible to defer repayment until six-months after the student leaves school.

Finding a Personal Consolidation Loan Using a Balance Transfer Consolidating Student Loans Community Q&A Loan consolidation can save you money if done right.

You consolidate loans by rolling all your little loans into one bigger one.

Perkins Loan repayment does not begin until 9 months after graduation, provided the program participant was enrolled in school full-time preceding repayment.

Depending on the repayment plan selected, repayment terms stretch between 10 and 25 years.

When borrowers hold more than one federal student loan, they are eligible to consolidate them under the Direct Consolidation Loan Program.

Other payment plans include: Student loan default is not an option under any circumstances, but failing to pay a commercial loan has far-reaching implications.Private loans are harder to get, because formal credit checks are required, but even bank loans provide flexible payment alternatives.Consider these options for managing and repaying student debt: Federal Direct and Stafford Loans are packaged with grace periods that last for six months after borrowers leave school.Public and private loan programs serve vital roles for university, community college, and graduate school students, but repayment is a condition of borrowing.Your Master Promissory Note forges a legal agreement between you and your lender, which establishes your commitment to pay the money back – with interest.

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Each student loan program carries its own unique eligibility requirements and repayment conditions.

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