This article contains valuable and comprehensive information about student loans, student loan forgiveness, and various types of loans available to students. Also, more details on Public Service Loan Forgiveness and loans for teachers and nurses will be discussed in this guide.
Education is the bedrock of today’s society and it is acquired at a steep price. The financial status of students in a tertiary institution is quite different and yet some may have a greater passion to attain the best academic achievement.
Taking out loans has left so many students owing huge debt.
However, millions of American students are about to have their loans cleared y the Biden administration. The Biden-Harris Administration plans to deliver debt relief to more than 30 million Americans according to a recent statement released by I-White House.
Ngokusho kwendatshana published by CNN, the Biden administration will be using existing student loan forgiveness programs to cancel another round of student loan debt. The Biden administration will spend about $7.4 billion to cancel student debt for over 277,000 borrowers.
Imali mboleko yomfundi ehamba phambili yimalimboleko ekhishwe yinhlangano exhunywe namazinga enzalo angashintshi noma aphansi. Futhi, imali ebolekiwe yabafundi abazimele inikezwa ngababolekisi abazimele abahlanganisa amabhange, ama-ejensi emalimboleko kahulumeni, amakhredithi ezinyunyana, nezinye izikhungo zezezimali.
Iyini Imali Ebolekiwe Yomfundi?
Loans given to students are monetary aid to help students go through college. A student loan is organized to help students pay for essential fees and items in college. Tuition, supplies, books, and living expenses of students can be taken care of with this loan.
Ngokuvumelana ne I-Southern New Hampshire University, a student loan is money students can borrow either from the UMnyango Wezemfundo wase-US or a private organization. The intent of taking this loan is to pay for college and repay the organization that provided the loan with interest.
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Izinhlobo zemali mboleko yabafundi ezitholakalayo
Currently, student loans in the United States are offered by two major lenders which are Izikhwama zase-Federal student kanye nemalimboleko yabafundi yangasese.
Federal Student Loans are offered by the government of the U.S. while izimalimboleko zabafundi ezizimele are offered by state loan agencies, banks, credit unions, and other financial institutions.
Izimali mboleko zikahulumeni
The U.S. government implemented the Federal Student Loans to aid students financially through college. It is highly recommended to use federal loans as they are attached with additional benefits and are less expensive than private loans.
Kunezinto ezimbalwa umfundi okufanele azibheke lapho efaka isicelo sokubolekwa imali.
Ngezansi kunezinzuzo ezinamathiselwe kwimalimboleko yenhlangano.
- Izimali mboleko zikahulumeni zilungisiwe futhi zinenani lenzalo eliphansi
- Ukuthola imali mboleko ngaphandle kwe-cosignatory
- Amathuba okuxolelwa kwemali mboleko yomfundi: lokhu kubandakanya ukusebenza emsebenzini othile njengokufundisa noma umsebenzi womphakathi ukuze ukhokhe imali ebolekiwe.
- Amashejuli okukhokha aguquguqukayo, njenge ukukhokha okunwetshiwe futhi abakhokha imali engenayot
- Isheduli yokukhokha eqala ezinyangeni eziyisithupha ngemva kokuba umfundi ephothule esikoleni
Izinhlobo ezine zemali mboleko yabafundi basekolishi
Imalimboleko Exhaswe Ngqo
Undergraduates with financial needs can take advantage of the Imalimboleko exhasiwe yabasebenzi bakwa-Stafford made available to them. The Subsidized Stafford loans enable students not to pay interest on any amount borrowed.
Imalimboleko Eqondile Engabhalisiwe
Abafundi be-Undergraduate kanye neziqu bane Imali mboleko yakwa-Stafford engaxhaswanga made available to them irrespective of their financial needs. The Unsubsidized Stafford loan is quite different compared to subsidized loans.
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Imalimboleko yeFederal Direct PLUS
Abazali babafundi abathola iziqu abancike futhi abathweswe iziqu bangasebenzisa leli thuba I-Grad PLUS kanye nemalimboleko ye-Parent PLUS. Inzalo yemalimboleko iqala ukunqwabelana uma imali ebolekiwe isikhishiwe ngoba imali ebolekiwe ye-PLUS ayixhaswa.
Imalimboleko ye-Federal Direct Consolidation
Ngemali mboleko yokuhlanganisa, ungahlanganisa imali mboleko yabafundi eminingi ibe imali mboleko eyodwa, futhi usajabulela izinzuzo zemalimboleko yenhlangano.
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Izimalimboleko ezizimele
Lezi yimalimboleko enikezwa ngumbolekisi ozimele ohlanganisa amabhange, izinyunyana zezikweletu, ama-ejensi kahulumeni wemalimboleko, noma ezinye izikhungo zezezimali. Imali mboleko yangasese ivamise ukunamathiselwa ngenani elimisiwe noma eliguquguqukayo lenzalo.
Abafundi abahlose ukuthenga imali ebolekiwe yangasese iyadingeka ukuthi ibe ne-cosignatory futhi inzalo ayixhaswa.
Kuyini Ukuthethelelwa Kwemali mboleko Yomfundi?
Ukuthethelelwa kwemali mboleko yomfundi kusula isikweletu sika Abafundi to repay part of their loan or all federal student loans that they borrowed. Most students in colleges and universities have taken loans to finance their stay in school.
The loan enables students to pay for tuition, supplies, books, and other essential items.
Paying back these loans sometimes might be difficult and most students end up being in a huge amount of debt. It’s an alternative method for students to pay back loans collected and it’s available for certain types of loans.
Students who are in debt can work in a certain public profession which can be educational or military professions.
Indlela Intethelelo Yokubolekwa Kwabafundi Isebenza
Student loan forgiveness exists to eliminate or take out parts of a student’s debt. Loan forgiveness applies to any student and student loan forgiveness applies to U.S. government-issued or government-backed loans and they amount to 92% of all student loans in the U.S.
However, loan forgiveness does not apply to private loans issued by banks, credit unions, state loan agencies, etc. There are situations where borrowers can have their loans forgiven or even better cancelled totally.
If you want your loans to be forgiven, you are mandated to apply and continue making payments until you get approval for your application.
Izinhlobo Zokuxolelwa Ngemalimboleko
I-Public Service Loan Forgiveness (PSLP)
The Public Service Loan Forgiveness Program is available only to those who work in public service jobs for nonprofit organizations or the government. Part of your loan can be forgiven if you provide volunteer work such as military service or medical practice.
Kunezidingo ezimbalwa okufanele uhlangabezane nazo ngaphambi kokuba isikweletu sakho sixolelwe ngaphansi kohlelo lwenkonzo yomphakathi.
- Ugunyazwe ukwenza izinkokhelo ezifanelekile eziyi-120.
- Izinkokhelo kufanele zenziwe ngenkathi usasebenza njengesisebenzi somqashi oqeqeshiwe okungaba yinhlangano ehlangene, isimo, uhulumeni wasekhaya, noma inhlangano engenzi nzuzo ekwenzile isimo sokukhululwa enteleni.
UWilliam D. Ford Federal Direct Loan Programme okuyimalimboleko eqondile eyenziwe uhulumeni wase-US Federal ifanelekela ukuthethelelwa imali mboleko yabafundi. Izimali mboleko ezikhishwe ababolekisi abazimele ezithathwa njengezimali ezibolekiwe ezingezona ezihlangene azifakiwe kulolu hlelo.
In a circumstance where the William D. Ford direct loan is unavailable to you, and you got a loan through the Uhlelo lwe-Perkins Loan, ungakwazi ukuhlanganisa lezo zikweletu ukuze uvele njenge imalimboleko yokuqinisa eqondile.
I-Revamp yango-2021 ye-PSLF
Ngemithetho evamile yokuThethelwa kweMalimboleko Yezisebenzi zikaHulumeni, inkokhelo eyenziwa iyodwa emalini ebolekiwe ehlanganyelwe ibalwa ngokwenani elincane lokukhokha eliyi-120. Izinkokhelo zokuqala ezenziwa emalini ebolekiwe yangaphambili nazo zacatshangelwa futhi kufanele ube sohlwini lwezinhlelo ezine zokukhokha eziqhutshwa yiholo ezikahulumeni.
The U.S. Department of Education made an official announcement in October 2021, to loosen program restrictions and it lasts till October 2022.
Within this period, borrowers are likely to receive credit for previous payments made on loans, or else they won’t be eligible for Public Service Loan Forgiveness to reach the 12 payment mark.
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Ukuxolelwa Kokubuyiselwa Kwemholo
The U.S. federal government offers four major income-driven repayment plans and they enable you to cap your loan payment at a particular percentage of your monthly earnings.
If you are enrolled in any of these plans, whatever remains of your loan balance will be qualified for forgiveness after a time of 20 or 25 years based on the plan.
Those who benefit from these plans are people with huge loan balances. According to the National Consumer Law Center, only 32 individuals have had the honour to receive loan forgiveness via income-driven repayment forgiveness.
Ungasifaka Kanjani Isicelo Sokuthethelelwa Kwemalimboleko Yabasebenzi Bakahulumeni (PSLF)
To successfully apply for Public Service Loan Forgiveness, you are required to fill out an Employment Certification Form annually and also make pay stubs, W-2 forms, or other requested documentation.
Kodwa-ke, uma ufinyelela ngempumelelo izidingo zokukhokha, ungafaka isicelo sokuthethelelwa ngokubolekwa kwemali kwabasebenzi bakaHulumeni eMnyangweni wezeMfundo. Uma isigunyaziwe, yonke ibhalansi yakho yemalimboleko iyaxolelwa.
Although the Public Service Loan Forgiveness Program is uncertain till there is a submission of a plan by U.S. President Joe Biden or Congress.
Kukhona ithuba lokuhlukanisa izinkokhelo zanyanga zonke. Isibonelo, labo abahola ngaphansi kuka-$25,000 ngonyaka kanye nemibhangqwana ehola ngaphansi kuka-$50,000 ngeke basebenzise ngisho indibilishi yemali ebolekiwe kuze kube yilapho kukhuphuka iholo labo.
Uhlelo Lokuthethelela Ukubolekwa Othisha
The Teacher Loan Forgiveness Program was initiated to motivate teachers to work in elementary schools, secondary schools, and educational service agencies that specifically serve families with low income.
Every year, the list of low-income elementary and secondary schools is published by the U.S. Department of Education.
However, if a teacher wants a loan forgiven, they need to teach full-time for five straight years at a qualifying school. Once the process is completed, the teacher automatically becomes eligible to have $5,000 and up to $17,500 loans forgiven.
The types of loans that are eligible are directly subsidized and unsubsidized loans only. Currently, there are up to 13 U.S. states that provide loan forgiveness to teachers with different requirements.
The Teachers Loan Forgiveness Program can be applied upon completion of the Teacher Loan Forgiveness Application and submission to a loan servicer.
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Ukuxolelwa Kwabahlengikazi
Emkhakheni wezokwelapha, abahlengikazi ababhalisiwe abanamalayisense, amalungu ophiko lwabahlengikazi, nabahlengikazi, labo abasebenza ezindaweni ezishoda kakhulu bangafaneleka futhi bathole imali efika ku-85% yemali mboleko yabo exolelwe ngaphansi kohlelo olubizwa ngokuthi Uhlelo Lokubuyisela Imalimboleko ye-NURSE Corp.
The qualified candidates can work for 2 years in an underserved area and have up to 60% of their student loan forgiven. An additional 25% of the loan can be forgiven for 3 years of working. Currently, 33 U.S. states offer loan repayment assistance and you can go to the official website for Loan Forgiveness for Nurses to check if your state is among the 33 U.S states.
Ukuxolelwa Kwabodokotela
Labo abanochwepheshe ohlelweni lokunakekelwa kwezempilo njengodokotela, osokhemisi, nodokotela bamazinyo kanye nabanye abasebenzi bezempilo banikezwa izindlela eziningi zokuthola intethelelo yemalimboleko.
Inani elixolelwe kanye nezidingo ziyahlukahluka, futhi lokhu kuncike ohlelweni olufakiwe.
Isiphetho
Attending prestigious colleges and universities can be quite steep, hence the need for monetary assistance is crucial.
With federal and private student loans, students in colleges can take loans to help them get through school. Tuition, books supplies, and other essential items can be taken care of with these loans.
Izincomo:
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- Ungayithola kanjani imifundaze Yokufunda Kwamanye Amazwe
- Uhlu Lwezaphulelo Nezidili Zabafundi | Ultimate Guide
- I-11 Study Abroad Scholarship for International Student
- Ngabe ama-Scholarship Abalwa Njengemali Engenayo?
Okubhekwayo
- I-Southern New Hampshire University: What is a Student Loan and How Does it Work?
- Washington (CNN): Biden to forgive $7.4 billion more in student loan debt for 277,000 borrowers
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