Qualified Loans

The laws surrounding the award allow members to repay "qualified student loans." For the most part, these include loans backed by the federal government (except PLUS Loans to parents of students).
 
You also may use your education award to repay a student loan made by a state agency, including state institutions of higher education.
 
Education awards cannot be used to repay any other type of loan, even if the loan was obtained for educational purposes. These include private loans and credit lines.
 
If you are still not sure whether you can use your award on your loans, check this list of qualified loans
 
You can use your education award to repay student loans in default, as long as the loans meet the definition of "qualified student loan." (A loan goes into default after the borrower falls behind on payments and the loan holder sends default notices.)
 
What's the story on Perkins loans and VISTA?
 

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