What is private loan forbearance?
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Written on: 19.11.2009 [22:18]
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Liza
Liza
Topic creator
Posts: 4
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Has anyone studied in America and organised financing there from the UK? I was talking to my friend about how I would pay it all back and she said I could get private loan forbearance. Is this like a waiver for foreign students? |
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Written on: 22.11.2009 [10:03]
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Clement
Clement
Posts: 5
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I think what she means is that you can apply for a repayment holiday. Basically, if you're given a loan in the States it's not like here when you're only expected to repay it if you earn enough: you have to repay it whatever happens. If it's impossible for you to make loan repayments for a time, you can apply for a repayment break, known as forbearance. You can also apply to continue to make repayments but repay smaller amounts! I would imagine that you might have a harder time trying to organise this as a foreign student... Surely your prospective uni / college can help you? |
| Also very interesting: | |
