Student loans are getting a whole lot easier to track and manage, thanks to a new program aimed at helping students keep track of their loan payments.
The Education Department announced on Thursday that it’s creating a new credit monitoring service that will offer a range of tools to help students stay in touch with their payments.
Here are the details: eidloan status If you’re struggling to find out whether you have enough money to pay back your student loans, the Education Department’s Office of Federal Student Aid (OFS) has created a new online tool to help you figure out if you have the right amount of money on your loan.
If you’re unable to pay your student loan bills, the OFS says you should contact the National Student Loan Hero, a national network of borrowers who are seeking help from the government.
Eidla loans are federal student loans.
A student loan payment is made from your student account to the Federal Reserve to be paid by the lender.
The interest rate on your student debt is set by Congress, and is set to stay at the rate of inflation for at least 10 years, so it can’t be changed.
If your student’s loan payment falls short of the federal repayment plan, you may qualify for a refund, but the government is required to make a payment every month on top of the interest.
The government says that the interest rate will rise to 4.8 percent if you earn more than $125,000 a year, but that’s only a maximum amount that will be forgiven in the case of those who don’t make the minimum payments.
If you need help with the student loan payments, the Department of Education says that you can contact the Federal Student Loan Hotline at 1-877-5-LEND-FED, or you can visit the Department’s Web site to get started.
Credit scores If you or someone you know is having trouble with their eidlat loan payments and needs a boost in their credit score, the Office of Student Financial Aid has created its own site.
Using the National Credit Score, the site provides you with a list of credit scores for each of the states where your student is currently attending.
While the scores provide a general indication of your overall credit worthiness, the scores also can provide useful insight into whether you might need to refinance your student debts.
There are also other resources on the site, such as a list containing the state-specific information on your current loan payments that you may be eligible for a refinance.
You can view the states and schools where your eids loans are currently in progress by going to the U.S. Department of Housing and Urban Development’s Home Affordable Modification and Refinance Loan Database.
Students can also search for their loan debt in the Federal Home Loan Bank (FHMB), a collection agency that provides financial assistance to students.
The FHMB also is a clearinghouse for federal student loan loans.