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What is a “qualified student loan”?

April 26, 2017student loan

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What is a “qualified student loan”?

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The national service legislation defines “qualified student loan” as a loan backed by the federal government under Title IV of the Higher Education Act (except PLUS Loans to parents of students), or under Titles VII or VIII of the Public Health Service Act. In addition, you may use your education award to repay a student loan made by a state agency, including state institutions of higher education.Education awards cannot be used to repay any other type of loan, even if the loan was obtained for educational purposes. You can use your education award to repay defaulted student loans, as long as the loans meet the definition of “qualified student loan.

0

Posted

The national service legislation defines “qualified student loan” as a loan backed by the federal government under Title IV of the Higher Education Act (except PLUS Loans to parents of students), or under Titles VII or VIII of the Public Health Service Act. In addition, you may use your education award to repay a student loan made by a state agency, including state institutions of higher education. Education awards cannot be used to repay any other type of loan, even if the loan was obtained for educational purposes. You can use your education award to repay defaulted student loans, as long as the loans meet the definition of “qualified student loan.