Frequently asked questions

Are you looking for student loans but confused about few footings? We have defined certain jargonscast-off in our website and we herewith provide FAQs for easy reference and future context:

What are personal loans?

The personal loans are taken to satisfy shortcomings appeared in the personal budgets. The idea behind these borrowings is to attain the personal objectives which could be education, wedding, shopping etc.

What is a student loan?

The student loans are borrowings taken out by students or parents to pay off the higher education costs and related expenses of students in US.

WhichareUS government student loans official websites?

The United States government have official websites to help students gather the correct student aid program and therefore has invested in developing and maintaining student loans informative websites of studentloans.gov and blog site of federal student aid on studentaid.ed.gov.

What is the Department of Education?

The Department of Education of the United States is one of the departments of the United States principally to institutemanagement policy for education and deliver most federal aid to education, pool data of US schools and to impose federal educational laws regarding privacy and civil rights.

What are the types of student loans?

The student loans are classified into federal direct loans (government loans) and private loans.

What are the Annual Percentage Rates (APRs)?

The lenders have rights to charge interest and other charges personal loans, but shall not be excessive than the annual percentage rates (APRs) announced by different states of the US.

What are federal work-study?

A Federal Student Aid Program provides both off-campus and on-campus "earn while you learn"employment to help pay the enrolee's education expenses.

What is FAFSA?

FAFSA stands for Free Application for Federal Student Aid.FAFSA4casteris a free online tool available for students to make an estimate of financial aid eligibility to plan the whole student costs in advance.

What is a student debt?

Student debts are non-repayment of student education costs, other costs associated to education like rent, livings, etc.

What is Entrance Counselling?

Entrance counselling is anobligatory information assembly which takes place before students receive their first federal student loan explainingtheaccountabilities and privileges as a student debtor.

What is ExitCounselling?

Exit counselling as opposite to entrance counselling is an obligatory assembly taking place when students graduate or appear school less than half-time explainingstudent loan repayment responsibilities and when repayment starts.

What is Expected Family Contribution (EFC)?

The Expected Family Contribution (EFC) is number resulting from the financial information provided by the students or parents in your FAFSA.