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Defaulted loans are not eligible for financial aid at UNI or elsewhere, are not eligible for transcripts until the default is cleared, cannot register for classes at UNI until the default is cleared, and will have the default reported to the credit bureau and become a part of your credit history.
To qualify for the Payment Count Adjustment for PSLF, federal loan types that are not Direct Loans (e.g., FFELs or Perkins Loans) must be consolidated into the Direct Loan Program by Dec. 31, 2023.
Perkins loans are a bit different from Stafford loans because the school lends the money to the student rather than the federal government. This can be very helpful to students who need extra help and have already borrowed the maximum amount in Stafford loans.
A Perkins Loan is a type of federal student loan based on financial need. A Perkins Loan is a low interest, subsidized federal student loan, meaning you wont pay or collect interest while you are in school and during the grace period after you leave school.
Direct Loans begin with the word Direct. Federal Family Education Loan Program loans begin with FFEL. Perkins Loans include the word Perkins in the name.
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You may be eligible for up to 100% loan cancellation for five years of service if you are a full-time employee carrying out the educational part of a Head Start, pre-kindergarten, or child-care program providing services for high-risk children and families in a low-income community, or supervising the provision of such