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Perkins Loans.
Note: Formerly known as National Defense Student Loan, National Direct Student Loan. Federal Perkins Loans are low-interest (5 percent) loans for both undergraduate and graduate students with exceptional financial need. Your school is your lender. The loans are made with government funds with a share contributed by the school. You must repay these loans to your school.
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Possible to get a student loan without a co-signer?
Most of the federal student loans do not need a co-signer since they are geared towards young students without long credit history. With private loans you will need a co-signer. With peer to peer loans it will be on case by case basis. Some investors could provide a loan without a co-singer for a higher interest rate.
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Prepayment.
A prepayment is an amount in excess of the amount due on a loan. If borrowers have more than one Direct Loan, they must specify which loan they are prepaying. Like all other Direct Loan payments, a prepayment will first be applied to any outstanding fees and charges, next to outstanding interest, and then to the principal balance of the loan(s). There is never a penalty for prepaying principal or interest on Direct Loan Program loans.
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Privacy of your Direct Loan.
The Federal Privacy Act is intended to protect borrowers from having their private financial information given to third parties without their permission. Callers such as spouses, parents, or children can receive general information about student loans; however, we will not release information specific to your loan(s). In order to authorize the release of information to parties other than you, a letter of authorization needs to be completed and mailed to this address. Please send a signed note or letter stating whom the Servicing Center is authorized to release information to on your behalf. Please provide a complete name and the relationship to you. (ex. I wish to release all information about my student loan to my spouse, Mary Smith).
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