Loan Forbearance Sample Clauses

Loan Forbearance. The Member is eligible to have the repayment of certain student loans postponed during their term of service. Members must request forbearance from their loan holders with the National Service Forbearance Request Form. The National Service Trust does not grant forbearances; the loan holders do. Members whose loans are in current default status are not eligible for this benefit.
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Loan Forbearance. If member has received forbearance on a qualified student loan during the term of service, the National Service Trust may repay a portion or all of the interest that accrued on the loan during the term of service.
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Loan Forbearance. Upon enrollment and acceptance into the program, the member is eligible for forbearance of any qualified student loans. If the member has received forbearance on a qualified student loan during the term of service, the National Service Trust will repay a portion or all of the interest that accrued on the loan during the term of service. The member may access her/his MyAmeriCorps account and from there can submit a loan forbearance request. After her/his term of service is completed, the member can submit an interest accrual request and can also access her/his education award. The member agrees to complete the tasks designated in the attached High Rocks AmeriCorps Member Service description. The attached service description is a part of this formal contract. The member understands that to successfully complete the term of service, as defined by the program and consistent with regulations of the Corporation for National and Community Service (CNCS), and to be eligible for the education award, she/he must complete the required minimum number of hours of service, satisfactorily complete the appropriate education/training that relates to the member’s ability to perform service, and complete all required service reports in a timely manner. The member will meet with their supervisor each week. During these supervision meetings, members are required to bring a completed list priorities. Your supervisor will have samples of these documents. The member is responsible for turning in their OnCorps timesheets on the appropriate due dates, which are the 15th and last day of each month. Failure to submit timesheets on those dates will result in your living stipend being withheld; for direct deposit, your check will not be deposited, it will be printed as a paper check and held until we receive your timesheet. A maximum of 20% of the member’s hours may be training, education, or other similar approved activities and a maximum of 10% may be fundraising. The member and the program may agree, in writing, to extend this term of service for the following reasons: The member’s service has been suspended due to compelling personal circumstances. The member’s service has been terminated, but a Whistleblower policy procedure has resulted in reinstatement. If the member and the program agree to extend this term of service, the program is required to submit this request in writing to the Corporation of National Service. Extensions will then be considered and evaluated by the AmeriCo...
Sample 1
Loan Forbearance. The member is eligible to have the repayment of certain qualified student loans deferred while they serve in AmeriCorps. The postponement, called forbearance, is not automatic. Members do not have to make payments on eligible loans during a period of forbearance, although interest continues to accrue. The member must request forbearance from their loan holder through their My AmeriCorps online account. The member must register for their online account at the beginning of their term of service. The National Service Trust does not grant forbearance; the loan holders do. The Trust merely verifies membership in AmeriCorps and forwards the documents to the loan holder. Student loans that are in default may not be eligible for loan forbearance.
Sample 1
Loan Forbearance. ‌ The member is eligible to have the repayment of certain qualified student loans deferred while they serve in AmeriCorps. The postponement, called forbearance, is not automatic. Members do not have to make payments on eligible loans during a period of forbearance, although interest continues to accrue. The member must request forbearance from their loan holder through their My AmeriCorps online account. The member must register for their online account at the beginning of their term of service. The National Service Trust does not grant forbearance; the loan holders do. The Trust merely verifies membership in AmeriCorps and forwards the documents to the loan holder. Student loans that are in default may not be eligible for loan forbearance. Payment of Interest on Qualified Student Loans‌ Upon successful completion of a term of service, the National Service Trust will pay, on behalf of the borrower (the member), all or a portion of the interest that accrued on a qualified student loan during the member's term of service. A qualified student loan is 1) any loan, made, insured, or guaranteed pursuant to Title IV of the Higher Education Act of 1963, as amended, other than a loan to a parent of a student pursuant to section 428B of such Act; 2) any loan made pursuant to Titles VII or VIII of the Public Health Service Act; and 3) any loan determined by a Title IV institution of higher education to be necessary to cover a student's cost of attendance at such an institution and made directly to a student by a state agency. The loan must have been in forbearance, deferment, or a grace period during this period. Payment will only be made to the loan holder. The payment, like payments from the member's education award, is considered taxable income in the year the payment is made. If the member obtains loan forbearance at the beginning of their term of service, they must submit an Interest Accrual Form to their loan holder up to 30 days before their service ends. Submission is made through the member’s My AmeriCorps account. The loan holder will complete the applicable portion of the form, compute the total accrued interest, and send it to the Trust for payment. The Trust will only pay interest if the member completes their term of service and receives an education award. This amount, in addition to the education award, is taxable. Living Allowance (Stipend members only) For stipend members, the living allowance is designed to help the member meet necessary living exp...
Sample 1
Loan Forbearance. Individuals who are serving a term of service in an approved AmeriCorps position may be eligible to temporarily postpone the repayment of their qualified student loans through an action called loan forbearance. Members must request forbearance from the loan holder by completing the National Service Forbearance Request Form. The National Service Trust does not grant forbearances; the loan holders do. Members whose loans are in current default status are not eligible for this benefit.
Sample 1

Related to Loan Forbearance

  • Forbearance Any forbearance by Xxxxxx in exercising any right or remedy under this Note, the Security Instrument, or any other Loan Document or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of that or any other right or remedy. The acceptance by Lender of any payment after the due date of such payment, or in an amount which is less than the required payment, shall not be a waiver of Lender's right to require prompt payment when due of all other payments or to exercise any right or remedy with respect to any failure to make prompt payment. Enforcement by Lender of any security for Borrower's obligations under this Note shall not constitute an election by Xxxxxx of remedies so as to preclude the exercise of any other right or remedy available to Lender.

  • Borrower Not Released; Forbearance By Lender Not a Waiver Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Xxxxxx to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender’s acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Amendments to Credit Agreement The Credit Agreement is hereby amended as follows:

  • Forbearance Not Waiver Sponsor’s failure or neglect to enforce any of its rights under this Grant Contract shall not be deemed to be a waiver of Sponsor's rights.

  • Subordinate Loan Documents The executed Subordinate Loan Documents are substantially in the same form as those submit­ted to, and approved by, HUD prior to the date of this Agreement. Upon execution and delivery of the Subordinate Loan Documents, Borrower shall deliver to Senior Lender an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.

  • Credit Agreement (a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC.

  • Forbearance Not a Waiver If a Holder or the Representative delays in exercising or fails to exercise any of its rights under a Note or this Revenue Sharing Agreement, that delay or failure shall not constitute a waiver of any rights or of any breach or default. No waiver by a Holder or the Representative shall be eRective unless the waiver is expressly stated in a writing signed by the Holder or the Representative, as the case may be.

  • Forbearances of the Seller From the date hereof until the Closing, without the prior written consent of the Purchaser, the Seller will not:

  • TERM, CONTINUATION AND RENEGOTIATION In this Collective Agreement, "Previous Collective Agreement" means the Collective Agreement that was in effect between the two parties for the period July 1, 2011 to June 30, 2013 including any amendments agreed to by the parties during that period.

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