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Why does student wants to enrolled nursing course?

If a student consolidates educ loans,starts repayment, then returns to school, can repayments be suspended?

  • My daughter is starting nursing school in January, '07. Her grace period for loan consolidation ends in Nov. 06. She plans to start repayment in Nov/Dec as required, but wants to suspend when she begins her nursing course in January. Thus, the question, can repayments be suspended? If so, when she begins payments again, at what rate will she be paying---when she left off or at the new rate when she restarts?

  • Answer:

    If her loans are thru the Dept Of Ed, yes. Anytime a person who was a student and has educational loans then returns to school, she can get a forbearance for a certain length of time. But I would look into if the loans are subsidized or not...interest still accrues on the unsubsidized loans, where no interest accrues for the subsidized ones. If there are unsub'd loans I would suggest that she pay what she can on them, due to the interest. Go here for more answers: http://studentaid.ed.gov/PORTALSWebApp/students/english/returning.jsp I wish her the best of luck!!

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Yes, she will be able to suspend her payments while attending school. You do not repay student loans while in school; they start 6 months after graduation.

RainCloud

The answer is yes, but there is more too it than that. First, I would encourage you to visit with the lenders website and learn about "deferment" options. Provided your daughter is enrolled as a full time student, yes they can be deferred until she graduates from nursing school. She would then have another 6 months (typically), of grace period before repayment begins. In order to receive deferment, your daughter will need to have the Financial Aid office at her nursing school assist with the process. Lenders will ask for verification of enrollment. This is typically done out of a Financial Aid office, or an enrollment office where they can verify full time enrollment. Note: Any interest rates and accrued interest will roll in to the overall amount while on deferment. The actual interest rate will be dependent upon the "market" when she resumes payment after nursing school. Recommendation: If possible, make interest payments while in deferment so that the outstanding principal amount does not grow. Steps to take action (in review): 1. Visit lender website for outstanding loans and review specifics on deferment requests/process. 2. Establish rapport with Financial Aid office at nursing school. 3. Be sure to make interest payments while loans are on deferment. 4. You may also want to consult the loan provider and see which options may be best suited for your particular situation. I hope this helps!

professorofsuccess

Yes. Student loan is suspended when you enroll in school. However, the accuing of interest continues. Talk to the financial institution she consolidated with for any type of deal.

Nikki W

She should be able to suspend payment as long as she is in school.

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as far as i know they maybe able to suspend them but dont take my word for it i may be wrong.

bouldy789

Yes. Just apply for an "in school deferment" Intrest continues and you can chose to stop payments or just pay the intrest. Download the form at. http://ifap.ed.gov/dpcletters/attachments/gen0107b_ISDR.pdf I would still recoment that she contacts the servicer first. That way she could get a temporary forbearance untill the deferment gets processed.

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