ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -How to Get Your Refund. If you paid off your entire student loan balance on or after March 13, 2020, you can contact your loan servicer to request a refund on any qualifying payments, as long as they were for one or more of the following types of loans that are eligible for student loan forgiveness:3.

Detailed explanation-2: -Scholarships. Many nonprofit and private organizations offer scholarships to help students pay for college or career school. This type of free money, which is sometimes based on academic merit, talent, or a particular area of study, can make a real difference in helping you manage your education expenses.

Detailed explanation-3: -These include: Immediate Repayment: Principal and interest payments begin as soon as your loan is disbursed. Interest-Only Payments: You make interest-only payments while in school, then begin principal and interest payments once you graduate or drop below half-time enrollment.

Detailed explanation-4: -Scholarships, grants, and work study are the three main financial aid types that don’t need to be paid back. Loans are the main type of financial aid that needs to be paid back. Most students use a combination of both types of college financial aid to help cover their expenses.