HERE ARE THE FEDERAL PROGRAMS IN WHICH STRAYER UNIVERSITY TAKES PART
|Federal Direct Loans||*1.068 % Origination Fee|
|1-800-848-0979||* 0.25% interest rate reduction for having monthly payments automatically deducted from your bank account.|
|Lender Code: FDSLP|
|Guarantor: N/A||* Fixed interest rate|
IMPORTANT INFORMATION ABOUT STUDENT LOANS
As you know, all student loans, whether federal or private loans, must be repaid. Once you have taken any loan, there are some important things for you to keep in mind:
- When you take a federal student loan you are agreeing to pay back the amount you borrow (loan principal) and any accumulated interest.
- The first payment will be due six months after you graduate, enroll less than half-time, or withdraw from school.
- If you have trouble repaying your federal student loan, for reasons such as low income, loss of job, etc. you may be eligible for a period of deferment or forbearance, during which no principal payments are due. In certain cases, the interest will accrue and capitalize, in others the interest will be paid by the Federal Government.
If you fail to make payments on your
Federal student loan for nine months (twelve months if your lender
is Direct Loans), you will be considered in default. If you
default, you will be turned over to a collection agency and
reported to a credit bureau, potentially impairing your ability to
apply for credit and preventing you from obtaining future student
aid. In addition, the entire loan balance will become due
immediately and any future income tax refund may be withheld to
satisfy the debt to the government.