Generally, Foundation consumers caused the fresh new You.S. Institution away from Training (DOE) to get a national student loan. They lent for college or university, nowadays it’s time to pay the balance.
Borrowers repay those individuals federal college loans from the sending costs in order to Cornerstone. If you come upon trouble and make money or if you need certainly to supply the pros that are included with government student education loans (particularly handicap release, income-passionate fees arrangements, otherwise harmony forgiveness), you’ll be able to upload the completed forms to Cornerstone to start the application form process.
Foundation College loans immediately
After you borrow cash via a national education loan, you do not get to decide the loan servicer – the new DOE renders you to definitely one for you – yet, if your loan try sent to Cornerstone, there’s a lot to be happier regarding.
- Debtor benefits. Get an interest rate reduction for enrolling in automatic payments. Get a rebate for making your payments on time.
- More assist to possess service members. If you serve in the military now or have done so in the recent past, CornerStone can help. The company offers easy access bad credit payday loan Stratton CO to federal benefits, including deferment and loan forgiveness. The company has dedicated specialists who can manage your student loan while you’re in active service.
- Effortless access to versions. If you need help with deferment, forbearance, loan forgiveness, an income-based repayment plan, or other federal programs, you must fill out a form to start the process. CornerStone makes this easy. All the forms you need are available on one web page.
Once more, Cornerstone even offers financing cost agreements; the company does not build otherwise write education loan applications. If you are disappointed with your financing fine print, otherwise you will be interested in the best education loan contract, this may not ideal company to you.
Should your federal student loan are maintained by the Cornerstone, the business’s build might be somewhat useful since you try to pay back what you has borrowed and your balance.
Cornerstone Education loan Masters and cons
CornerStone executives focus on student loan borrowers. The company’s mission is to guide students through the student loan process, so they can make wise decisions about how much to borrow. They also hope to help students take advantage of the protections that come with federal student loans.
Pros
- Not-for-earnings position: The company isn’t interested in making a profit or pleasing shareholders. Executives are exclusively interested in helping students to succeed.
- Faithful customer support: Customers with questions have plenty of options. You can call a dedicated phone number, chat with loan specialists, send an email, or send a letter. Help is available five days a week.
Cons
- Upkeep simply: CornerStone doesn’t offer loan products. If you need extra help and want to borrow more money, the company can’t assist with that.
- Prepayment info: If you want to make an extra loan payment, CornerStone will automatically put the funds toward outstanding accrued interest, not the principal. That might not be your preference.
You simply cannot apply for a cornerstone education loan, as company doesn’t originate loans for students and their household. Nevertheless, it’s also possible to have a cornerstone mortgage rather than understand it.
Cornerstone highlights your DOE assigns a loan servicer whenever the original disbursement is distributed into college or university. Usually, you happen to be notified from the action by send. If you’re however at school but not knowing just who the loan servicer is, someone throughout the school’s educational funding office might help.
If you’ve graduated from school and need to pay back your balance, CornerStone should send statements by mail. If you don’t see them and you’re not sure what should happen next, contact CornerStone.
Last Updated on October 3, 2024 by Bruce