Easy Student Loans
– By Priya Jestin, Staff Writer
Planning to take a loan? You are probably faced with the two big loan questions: how much and from where. You may have run the entire gamut of loan houses and checked the rates and best options available.
But you probably have overlooked these sites that offer unbelievable amount of assistance to students. These loan resource sites not only offer the best possible terms but also have attractive repayment modes:
National Council of Higher Education Loan Programs (NCHELP): NCHELP’s guaranteed loan assistance consists of four different loan programs: Federal PLUS Program, subsidized Federal Stafford Loans, unsubsidized Federal Stafford Loans, and Federal Consolidation Loan Program.
Information for Financial Aid Professionals (IFAP): IFAP is a Department of Education site, which contains numerous useful publications for professional financial aid counselors.
Project EASI – Named Easy Access For Students and Institutions, this site provides information on topics ranging from how to manage your debt, loan consolidation, and what to do if you default. The site aims to make life easier for anyone who must repay a student loans by providing relevant and useful information.
Direct Loan Program - This is a Federal Student Aid program that provides students with a way to borrow money to pay for education after high school. And the best thing about this program provided by the Department of Education is that borrowers have flexible repayment options.
The Department of Education (DOE) also offers numerous resources on deferment, rehabilitation, postponement and other kinds of financial aid for repayment.
March 6th, 2007 at 6:24 am
Based in Washington, DC, the National Council of Higher Education Loan Programs, Inc. (NCHELP) represents a nationwide network of guaranty agencies, secondary markets, lenders, loan servicers, collectors, schools and other organizations involved in the administration of the Federal Family Education Loan Program (FFELP). Since its founding, NCHELP has represented its members on public policy and regulatory issues with the legislative and executive branches of the federal government.
NCHELP members promote student access and choice for postsecondary education and training. A key objective is to keep the public informed about the availability of FFELP loans as a method to ensure open access to a postsecondary education. NCHELP’s members provide guaranteed loan assistance under the Federal Family Education Loan Program, which consists of four different loan programs: subsidized and unsubsidized Federal Stafford Loans, Federal PLUS Program and Federal Consolidation Loan Program.
The FFEL Program is the nation’s largest source of financial aid for postsecondary education. Over the past 30 years, lenders have provided more than $300 billion in FFELP (formerly GSL) loans to more than 100 million students and their parents to help finance their training and college, graduate and professional education.
NCHELP remains committed to program integrity and improvement. Through the collective efforts of schools and our members, more and more borrowers are repaying their loans on time. Efforts have been intensified to counsel delinquent borrowers on their repayment obligations and options to prevent defaults. While default aversion is the primary goal, once borrowers default every attempt is made to get them back into repayment or to collect the outstanding debts using the latest technology and approved methods including wage garnishment, withholding of federal and state tax refunds, and litigation.
The Federal Family Education Loan Program has undergone enormous changes during the 1990’s. New technology and standardization of forms and procedures have made the loan delivery system easier, faster and more efficient for students and schools. Recent program enhancements facilitated by NCHELP members include CommonLine (standard electronic file formats for use by lender, guarantors, and schools to process FFELP and alternative loans), the Common Manual (a policy manual for FFELP participants).
NCHELP does not directly provide financial aid to students.
It is unfortunate that your site provides such misleading and incomplete information.
We request that you remove this incorrect reference to NCHELP from your article.
Respectfully,
Mark Putman
Chief Technology Officer
NCHELP
April 19th, 2007 at 11:00 pm
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