i want to know how and whta processes colleges and banks take back their loans given after graduation.Also what is the calculated interest on studenty loans given out by the bank of america?
Grants are never taken back unless you happen to withdraw during your academic term. If you borrow money during your education you will be responsible for paying back the loans plus interest. The lender will establish a monthly payment based on the amount you borrowed, your interest rate, and federal law in the case of federal loans. The current interest rate on federal Stafford loans is 6.8%…the interest rate on private Bank of America loans varies based on your specific circumstances (i.e. applying with a cosigner, credit check, etc.). You would need to contact Bank of America to determine what your specific rate would be.
August 31st, 2009 at 12:38 pm
Grants are never taken back unless you happen to withdraw during your academic term. If you borrow money during your education you will be responsible for paying back the loans plus interest. The lender will establish a monthly payment based on the amount you borrowed, your interest rate, and federal law in the case of federal loans. The current interest rate on federal Stafford loans is 6.8%…the interest rate on private Bank of America loans varies based on your specific circumstances (i.e. applying with a cosigner, credit check, etc.). You would need to contact Bank of America to determine what your specific rate would be.
References :
August 31st, 2009 at 12:43 pm
read these pages carefully It will help u a lot. Or U can call executive of banks or financial institutions who can guide you better. & to call U can even fill form here & they will contact u themselves .
http://lnk.in/4tds
References :