Get the free Repayment Plan Selection Form (Standard, Extended ... - CornerStone - mycornerstoneloan

Rev. 11/2012 REPAYMENT PLAN SELECTION: Standard Repayment Plan/Graduated Repayment Plan/Extended Repayment Plan William D. Ford Federal Direct Loan (Direct Loan) Program RPS OMB No. 1845-0014 Form

How to fill out repayment plan selection form

Who needs repayment plan selection form?

Individuals who have taken out a loan or have outstanding debt that needs to be repaid. This form is typically used by borrowers who are seeking to enter into a repayment plan with their lender.

How to fill out repayment plan selection form:

1. Obtain the form: The repayment plan selection form can typically be obtained from your lender or financial institution. You can either visit their website and download the form or request it directly from their customer service department.
2. Personal information: Start by providing your personal information on the form. This usually includes your full name, address, contact information, social security number, and any other requested identification details.
3. Loan details: Next, you'll need to provide specific information about the loan or debt for which you are seeking a repayment plan. This may include the account number, loan amount, interest rate, and any relevant dates associated with the loan.
4. Financial information: The form may ask for your current financial situation, including your employment status, income, and assets. This helps the lender assess your ability to make payments under the proposed repayment plan.
5. Repayment plan options: Depending on the form, you may be presented with different repayment plan options. Read through each option carefully and select the one that best fits your financial situation. Consider factors such as the monthly payment amount, duration of the plan, and any potential changes to the interest rate.
6. Supporting documentation: Some lenders may require additional documentation to support your repayment plan selection. This could include recent pay stubs, bank statements, or proof of assets. Make sure to include any requested documents with your form.
7. Review and sign: Once you have filled out all the necessary sections of the form, review it thoroughly for accuracy and completeness. Ensure that all the information provided is correct before signing and dating the form.
8. Submit the form: After completing the form, make a copy for your records and submit the original form to your lender. Follow any instructions provided regarding the submission process, whether it's mailing it, submitting it electronically, or visiting a branch in person.

Remember, it's always a good idea to keep copies of all documents related to your repayment plan selection for your reference. Additionally, if you have any questions or concerns, don't hesitate to reach out to your lender for clarification or assistance.

For pdfFiller’s FAQs

What is repayment plan selection form?

The repayment plan selection form is a form that is used to choose the specific plan for repaying a debt, such as a loan or credit card balance.

Who is required to file repayment plan selection form?

Individuals or entities who have a debt and want to establish a repayment plan are required to file the repayment plan selection form.

How to fill out repayment plan selection form?

To fill out the repayment plan selection form, you need to provide your personal and financial information, details of your debt, and choose the repayment plan that best suits your financial situation.

What is the purpose of repayment plan selection form?

The purpose of the repayment plan selection form is to allow individuals or entities to choose a repayment plan that fits their financial capability and helps them pay off their debt effectively.

What information must be reported on repayment plan selection form?

The repayment plan selection form typically requires information such as personal details (name, address, etc.), financial information (income, assets, expenses, etc.), and details of the debt (creditor, amount owed, etc.).

How do I complete repayment plan selection form online?

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