Generally speaking, Cornerstone consumers worked with the newest U.S. Department away from Knowledge (DOE) to track down a national student loan. They lent to own university, nowadays it is the right time to pay the balance.
Individuals pay people federal student education loans from the sending costs in order to Foundation. For folks who encounter trouble making money or you must access the benefits that include government college loans (such disability release, income-driven repayment arrangements, or balance forgiveness), it is possible to post your complete variations to help you Cornerstone to begin with the application techniques.
Cornerstone College loans immediately
When you borrow cash through a federal student loan, you do not get to choose your loan servicer – this new DOE renders that one for you – but if your loan try taken to Foundation, there is lots to get pleased throughout the.
- Borrower masters. Get an interest rate reduction for enrolling in automatic payments. Get a rebate for making your payments on time.
- A lot more let having solution players. 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.
- Easy access to variations. 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 loan installment plans; the organization doesn’t framework otherwise generate education loan software. While you are let down along with your loan small print, or you might be trying to find an informed student loan offer, this may not the right company for you.
In the event your government education loan are serviced because of the Foundation, the company’s structure could well be a bit helpful as you work to pay what you has actually borrowed and you may what you owe.
Cornerstone 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-cash updates: The company isn’t interested in making a profit or pleasing shareholders. Executives are exclusively interested in helping students to succeed.
- Dedicated 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
- Servicing 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 details: 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 education loan, as the team will not originate fund for college students and their household. However, you can even curently have a foundation loan and not know it.
Cornerstone points out that the DOE assigns a loan servicer when the first disbursement is sent towards the college or university. Generally speaking, you happen to be notified of the step by send. When you find yourself nonetheless in school but unsure which the loan servicer are, some one regarding school’s school funding place of work will help payday loans Fort Jennings.
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.
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