Same day cash advances vs traditional loans

• Easy to apply and receive funding
• No monthly fees
• Unlimited cash
• Serves your student loans, but doesn't require a credit check
• How it works

The main way to apply for this card is through a direct deposit or direct deposit in a paycheck. If you're already approved for a savings account, this option is easier to manage since you don't have to change your deposit.

Here's how it works:

Make a direct deposit into a savings account

A portion of the money will be applied directly into your student loans with no fee. You have up to 30 days after the deposit is processed to add funds to your student loans.

Make a student loan payment via direct deposit

The money will be deposited into your student loan debt management account immediately and be paid directly to your student loan debt management account within 60 days. The amount of your loan repayment will be based on the interest rate you chose.

 (1) Make a Direct Deposit of at least $1,500 You'll have up to 30 days after the Direct Deposit is processed to add funds to your student loans with no fee. Make a Direct Deposit of at least $2,000 You'll have up to 30 days after the Direct Deposit is processed to add funds to your student loans with no fee. Make a Direct Deposit of at least $3,500 You'll have up to 30 days after the Direct Deposit is processed to add funds to your student loans with no fee.

You must notify your lender that you've made the payment using one of the following methods. You can request that your lender provide you with an additional payment. If your loan servicer fails to make the payment on time, the lender will continue to charge interest and penalties for late payment until you make the full payment. Late payment penalties may include late fees and penalties, late payment interest charges, and repayment default fees. Your loan servicer may provide you with a billing statement that provides information about your Direct Consolidation payment. Contact your loan servicer to request a copy of the billing statement. You can find the bill in the online StudentLoans.gov Student Loan Summary.

The Direct Consolidation option includes: The annual automatic monthly payment for federal student loans is 10.25% of your discretionary income for each paid monthly period. After you make Direct Consolidation payments for three consecutive months, your monthly payment is adjusted so you remain current on your repayment. You cannot make additional Direct Consolidation payments.

To qualify, your monthly Direct Consolidation payment must equal no more than your total discretionary income for the previous month, as determined by your lender(s). The higher your monthly payment, the faster you pay back your loan.

Eligibility for Direct Consolidation can be extended to other loan products like no credit check loans online. If you qualify, and you make Direct Consolidation payments on other loan products as well, you may receive a one-time $10,000 cash payment that is not considered part of your monthly payment. You can get information on how to get additional assistance with paying off your loans and other loans at MyLoan.gov.

7.2.5 Receive monthly loan interest rate increases

If your monthly payment under the Direct Consolidation plan increases because you earn income, and you pay back the loan in full, your lender may increase the interest rate of your loan. Your lender may also increase your interest rate.