Tips Sign up for a student-based loan With Cornerstone
Usually, Cornerstone users worked with the newest U.S. Department off Training (DOE) to track down a national student loan. They lent having school, nowadays it is time to pay the bill.
Consumers pay-off those people federal student loans from the giving payments so you’re able to Foundation. For individuals who find issues and then make payments or you must availability the advantages that are included with federal student loans (including disability discharge, income-driven payment preparations, otherwise harmony forgiveness), it is possible to post their finished variations to Foundation first off the application techniques.
Cornerstone Figuratively speaking immediately
When you borrow money through a national student loan, you do not get to choose the loan servicer – the DOE helps make one to choice for you – but if your mortgage was delivered to Cornerstone, there is lots as pleased on.
- Debtor professionals. Get an interest rate reduction for enrolling in automatic payments. Get a rebate for making your payments on time.
- A lot more assist to have solution members. If you serve in the military now or have done so in the recent past, CornerStone can help. The company offers easy access 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 models. 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 again, Cornerstone has the benefit of mortgage repayment preparations; the firm cannot design otherwise develop student loan programs. If you are let down along with your loan conditions and terms, or you happen to be shopping for an informed student loan deal, this might never be the proper company for you.
Should your government student loan is maintained because of the Cornerstone, their design is slightly beneficial as you try to pay everything provides lent and you can what you owe.
Foundation Education loan Advantages and disadvantages
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-finances position: The company isn’t interested in making a profit or pleasing shareholders. Executives are exclusively interested in helping students to succeed.
- Loyal 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
- Maintenance 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 information: 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 cannot make an application for a foundation student loan, since the business doesn’t originate fund for college students as well as their family. Still, you could have a foundation financing and not know it.
Foundation points out your DOE assigns that loan servicer when the original disbursement is distributed into the university. Typically, you may be informed with the step by the post. While you are still in school however, being unsure of who Arkansas payday loans online the loan servicer was, somebody in the school’s financial aid 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.
