As there are different types of Student Loans, so the interest rates vary with the types of student loans:
Federal Student Aid Programs:
· For Stafford Loans:
Average interest rate for Stafford student loans is 6.5%. And this rate was fixed to 6.8% for the disbursed loans after July 1, 2006. The change from variable to fixed interest [...]
There are number of effects on the eligibility of student loans depending on student’s age and the employment status of the spouse. Some of them are positive and they give greater eligibility for student loans. Some effects are neutral and they don’t make much change in student’s eligibility for student loans. But mostly the eligibility [...]
The borrower has to experience multiple types of economic phases throughout the time span of his/her loan repayment. One of these phases is quite crucial when the borrower is unable to pay the scheduled payments or fulfill certain requirements of the loan contract and such phases particularly occur when either the borrower is unemployed or [...]