Q: If i enjoys several financing, should i get a hold of those is actually canceled?
- Defaulted federally kept financing.
- Defaulted industrial FFEL System loans.
- Head Loan Program finance and you may FFEL Program money in the a beneficial condition.
- Federally held Perkins Loans.
When you have multiple finance from inside the a program sort of (e.grams., numerous Direct Loan Program money), your debt recovery could well be used contained in this purchase:
- Finance having large statutory interest rate.
- In the event that rates of interest are exactly the same, unsubsidized funds need priority more sponsored funds.
- In the event the rate of interest and you will subsidy status are the same, the most up-to-date loan becomes recovery.