How long can a student loan be deferred? 10 years? Longer?
It's thru the Kentucky Higher Education Student Loan Corporation. My brother has managed to turn his $24,000 loan into $48,000. My parents are beside themselves.
Full Version: Student Loan Question
QUOTE(usabroke @ Jan 6 2006, 01:52 PM) 
How long can a student loan be deferred? 10 years? Longer?
It's thru the Kentucky Higher Education Student Loan Corporation. My brother has managed to turn his $24,000 loan into $48,000. My parents are beside themselves.
It's thru the Kentucky Higher Education Student Loan Corporation. My brother has managed to turn his $24,000 loan into $48,000. My parents are beside themselves.
Is it deferred or in default? I don't know how long it can be deferred, but 10 yrs sounds like a VERY long time to me.
And why do your parents care? Isn't your brother an adult now?
We don't know if it's in default. It would show on his credit reports as in default correct? I didn't have loans & wasn't sure how they worked. I didn't think something could be deferred this long either.
QUOTE(usabroke @ Jan 6 2006, 01:52 PM)
How long can a student loan be deferred? 10 years? Longer?
It's thru the Kentucky Higher Education Student Loan Corporation. My brother has managed to turn his $24,000 loan into $48,000. My parents are beside themselves.
It's thru the Kentucky Higher Education Student Loan Corporation. My brother has managed to turn his $24,000 loan into $48,000. My parents are beside themselves.
If your brother is dealing with Kentucky Higher Ed, he is in default. Included in that balance will be 25% in collection charges.
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