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#2132357 - 05/30/17 05:29 PM Private Education Loan and Interest Accrual
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Since Private Education Loans are rescindable, when does the interest start accruing? Is it the closing date or the disbursement date?

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#2132360 - 05/30/17 05:33 PM Re: Private Education Loan and Interest Accrual lucyc
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,984
FINALLY ABOVE the gnat line
That depends on your bank's policy. When does it begin on your real estate loans? I don't believe FL has a rule regarding this on Real Estate loans.
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#2132380 - 05/30/17 06:28 PM Re: Private Education Loan and Interest Accrual lucyc
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Thanks however from what I have come across while researching it seems this is a state law issue.

Also, my additional question is are all Private Education Loans rescindable?

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#2132383 - 05/30/17 06:32 PM Re: Private Education Loan and Interest Accrual lucyc
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
1026.48 (d) Consumer's right to cancel. The consumer may cancel a private education loan, without penalty, until midnight of the third business day following the date on which the consumer receives the disclosures required by §1026.47(c). No funds may be disbursed for a private education loan until the three-business day period has expired.
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#2133616 - 06/08/17 08:22 PM Re: Private Education Loan and Interest Accrual lucyc
lucyc Offline
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lucyc
Joined: Jul 2007
Posts: 1,074
Thank you.

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