The Cons of Strategic Student Loan Default

Written by adminSeptember 25, 2018
Student Loan Consolidation

As student loan debt soars past $1.5 trillion, the struggle of paying them back is real. A lot of former students are having to delay making major life decisions to pay back their loans. But others are taking a different approach. A new wave of young adults are becoming activists against what they call ‘student loan debt servitude’.

To protest the massively expensive cost of a college education, and their student loan bill, they’re simply deciding not to pay it. They are intentionally diving head first into default with no regrets. They use terms like “a student loan is economic terrorism” and crying out that these debts must be canceled immediately.

Their goal is political activism, and their outcry is understandable. The cost of a college education IS way too high. The problem is, this type of activism is doing nothing for their cause. In fact, it hurts them much more than it hurts the lenders. Banks and the federal government have plenty of money. They also have all the resources they need to make you suffer.

What Happens When Your Student Loan Goes into Default

Once you start missing student loan payments, your account is declared delinquent. After about 270 days of non-payment, you’re considered in default of your loan. That’s about 9 months late with your payments. The consequences of that are often quite severe. Going into default can stall your life financially and professionally. Here’s a list of situations that can happen:

• Delinquency reported to credit bureaus
• Your credit score will tank
• Send the loan to a collection agency
• Will garnish your pay
• You will no longer be entitled to deferments or file for forbearance
• Withhold your taxes
• You will not be eligible to receive more financial aid
• The lender can take you to court
• Revoke your professional license
• Interest will continue to pile on
• Add late fees

“Defaulting on any student loan can have very serious – and very guaranteed – negative consequences, including late fees, collections costs, credit damage, and collections efforts,” says student loan expert Adam Minsky.

Strategic Default Won’t Work on Federal Loans

To get their money back, private lenders have fewer options. They will have to take you to court to fight for their payments. Federal student loans, on the other hand, don’t need to follow that rule. The borrower has absolutely zero leverage against the government. That means they have more power to compel you to pay.

“Defaulting on a federal loan can be particularly dangerous because the government and Federal guarantors have a lot of power to pursue borrowers and take their money without needing to go through the court system,” said Minsky.

http://financialhelpers.com/4-facts-you-should-know-about-student-loan-forgiveness/

“Defaulting on Federal loans generally does not give borrowers leverage – their options are constrained by Federal law. And while it is possible to get out of default on Federal loans, going into default generally does not give people an advantage.”

It really makes no sense in the long run to torpedo your student loan and refuse to pay it. You’re only harming yourself, especially when there are programs available. There refinancing, income-driven payment plans, and student loan forgiveness.

If you have any questions about your loans and want to know more about these programs, give Financial Helpers a call. We’d love to help you sort out your loan situation. It’s better to pay them off the right way. Give us a call at:

Call Now 844-332-2079 

At the end of the day, you borrowed the money. It’s your responsibility to pay it back. If you’re struggling, there are a variety of programs that can help you. Give us a call today.

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Why You Should Skip Student Loan Forbearance

Written by adminSeptember 18, 2018
Student Loan Consolidation

With the student loan crisis in full swing, millions of students graduate college with no idea what to do next. They may have a brief reprieve, but for the most part, repayment of loans begins immediately. With their shiny degree in hand, did the student find a great job right away? Odds are, the answer is no, but the lenders don’t care either way.

There’s a reason why the elite mock millennials for being the generation that still lives at home with their parents. It doesn’t mean they’re lazy and refuse to work. Student loan debt has become a crippling problem for this generation. For the last decade, the economic crisis made finding meaningful work nearly impossible.

The economic climate doesn’t matter to lenders. They want their money back, job or not. The monthly payments can be as high as $800-$1,000, depending on how much you borrowed. That’s the cost of rent. With so many students graduating and facing immediate hardship, many turn towards forbearance to give them some time.

What is Forbearance?

After a student leaves college, their student loan is due immediately. The amount of the payment depends on a variety of factors. In the event of an economic or financial hardship on the student, they can decide to apply for forbearance.

Forbearance is a process that allows students to put their student loan payments on hold for a temporary period, usually up to 12 months. This is a good thing for people suffering with financial difficulty to get a little extra time, but it should only be used for emergencies. Yet, its usage is becoming a trend among people with debt.

http://financialhelpers.com/how-the-great-recession-caused-the-current-student-loan-crisis/

Because you can get an unlimited number of forbearance deferments, a lot of students are putting their payments off for years, at a great cost to themselves. In the second quarter of 2018, 2.8 million student loan borrowers are considered in forbearance. A number of these cases remained in forbearance for 18 months or longer.

Why You Shouldn’t Put Off Your Student Loan

Forbearance isn’t a long-term strategy to avoid paying your loans. It should only be used in cases of a financial emergency. For example, if you injure yourself and cannot work, or the loss of a loved one. Students all over the country keep making the same mistakes. They jumped at a chance for an education, but weren’t prepared for what came next.

So, they avoid paying their loans as long as possible. They push it out further and further, but don’t realize they’re only making the situation worse for themselves. Even during forbearance does interest accrue on a student loan. That means the amount you owe will continue getting bigger during that time.

Over the period of a year, depending on the amount of interest, your loan could grow by $1,000-$2,000. That’s only the first year. Over the life of your loan, the interest continues to grow. Some students can never get out from underneath the revolving cycle of interest and actually pay down their loan.

Better Options

To recap, forbearance should only be used in a time of crisis. If you absolutely cannot pay your monthly bill, you can get it push off by a month or two. Your student loan will not go anywhere or magically disappear just because you push it off. In fact, the interest rate will only further grow your ending balance.

If you’re struggling to pay off your student loan, there are other options available to you. The PAYE and REPAYE are income-based programs that allow students to remain up-to-date on their payments. If you have a limited budget, you can pay what you can afford. As time goes on, as you make more money and your credit score improves, you can refinance your loan.

The worst thing you can do is get frustrated and give up. It will only add to your problems. Pay your balance down and keep to a schedule.

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4 Facts You Should Know About Student Loan Forgiveness

Written by adminSeptember 17, 2018
Student Loan Consolidation

Sure, everyone who takes out student loans would love to be awarded complete student loan forgiveness. Just one wave of the magic wand by someone sitting in a federal office, and POOF! The loan is gone. But sadly, most people misunderstand what it takes to get there. Not everyone can apply and the rules are strict.

So, the first thing about getting a student loan is you need to be prepared to spend at least the next decade of your life paying it back. Depending on the amount you owe, monthly payments are about as expensive as a cheap apartment rental. For this reason, a large percentage of people default on their student loans.

In fact, but 2023, it’s estimated that 40% of borrowers will default on their loans. As the amount of debt surpasses $1.5 trillion and climbing, student loan forgiveness is the only hope a lot of Americans have. If that sounds like you, here are four facts you could consider:

1) Student Loan Forgiveness Takes A LOT of Time

Barring a fraudulent case, you’re not going to apply for forgiveness and get it granted within a few months’ time. There are even a lot of stipulations and conditions to receive it. Currently, there are three programs that offer it: PAYE, REPAYE, and Public Service Loan Forgiveness.

With the Public Service Loan Forgiveness plan, it’s a 10-year process. Therefore, you have to be a federal, state, or local service worker who makes regular (around 120) payments over a ten-year period to qualify.

PAYE (or Pay As You Earn) is a 20-year program for student loan forgiveness. This is more income-driven. There’s a revised (REPAYE) program that can take up to 25 years. These programs help former students pay less each month based upon their income. At the end of the day, they might not be worth the trouble.

2) Good Chance Your Balance Will Increase

Getting on a student loan forgiveness program might be helpful for a lot of students. They can pay lower monthly payments, but there’s a reason why it can take as long as 25 years. Accruing interest is the major killer here. The interest doesn’t stop accumulating and will likely grow your balance.

http://financialhelpers.com/how-volunteer-work-can-help-pay-back-student-loans/

Every year, you have to re-certify your income. If you get a new job, a raise, or if your income changes under any circumstances, it can boot you out of the repayment program. You can even eventually take longer to repay than you would’ve done if you hadn’t joined the program. There are a lot of different scenarios to consider.

3) Student Loan Forgiveness Dollars Become Tax Debt

At the end of the day, you will have to pay off your debt. Any student loan forgiveness you receive only changes from loan debt to tax debt. That’s because the IRS still counts the amount forgiven as income you’ll have to pay taxes on. If you’re disabled or under the Public Service Loan Forgiveness program, this doesn’t apply to you.

4) The Future is Wide Open

Here at Financial Helpers, we’ve been regularly offering updates to the student loan forgiveness program. Each administration seems to have a different idea on the best way to offer help to students. The Obama administration created a lot of these programs at the height of the debt crisis, but the Trump administration seems to be more interested in protecting banks.

We recently reported that Betsy DeVos, the education secretary, was in favor of a tiered forgiveness program based on income. A federal judge ruled against her just last week. With this being said, there are a variety of different ways to pay off student loans quicker. There’s refinancing, repayment, and consolidation.

To learn more about your options and what plan works the best for you, call Financial Helpers today. We’ve love to hear from you. Our team of student loan debt experts is ready to assist in creating a plan around your budget and needs. You can call us at:

Call Now 844-332-2079

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Student Loan Debt Crosses the $1.5 Trillion Mark

Written by adminAugust 28, 2018
Student Loan Consolidation

Student loan debt has long passed being an epidemic and has entered crisis territory. It was just announced that the amount due hit a record $1.5 trillion and continues to climb rapidly. A lot of it has to do with the increasingly higher cost of college, but students aren’t paying their bill.

The problem is, they can’t pay their debt and their rent at the same time. This is why a lot of young adults are living at home and working two jobs just to keep up with their bills. Depending on how much they owe, students pay as much monthly as it costs to rent a cheap apartment.

Repayment often begins as soon as the student graduates. This forces them to use payment adjustment schemes that might offer short-term relief by cutting monthly payments, but it doesn’t do the trick. You still owe the entire amount that you borrowed. This “strategy” only ensures that young adults carry student loan debt longer than they would normally.

Student Loan Debt Rising

Overall, the US student debt has grown by $500 billion since the 2010 to 2011 school year. It’s interesting to see that while the amount of debt piles up, actual lending volumes have been falling. The number of people obtaining student loans has been declining as well. This is causing a major problem.

Because students answer this repayment program that make monthly payments smaller, they don’t realize they’re not lowering the interest rate at the same time. That means they’re stretching out the life of their loan while even more interest keeps piling on. On top of that, if they miss a payment, additional fees are added.

Also: http://financialhelpers.com/5-student-loan-debt-statistics/

John Anglim of S&P agrees that the interest rates are what’s allowing the banks to make a killing off interest.

“By reducing the payments, they allow borrowers to stay current, but the balance keeps growing. That’s what we’re seeing now,” he said. “If the government is serious and concerned about growing student debt, then we need to come up with a broader plan rather than one that just helps a select few.”

Student Loan Debt Hurting the Economy

It’s easy to understand how debt can be a drag on the average U.S. household. Paying towards student loan debt takes money out of your pockets that can go towards your life. Because so many young people have debt, it has become a major drain on the economy. If more people are paying towards something, it’s not being reinvested back into the economy.

This is causing everyone from the poorest American to the highest-paid politician worried about the future of this country. How much more expensive will student loans get? Vincent Deluard, a strategist for INTL FCStone, sees it as a growing danger towards future economic growth.

“A significant portion of the millennial generation has gone bankrupt before it could start building wealth, which is a — still-unaddressed — threat to the long-term health of the US economy,” he said in a report.

In January, a report came out from the think-tank Brookings, revealing that the number of graduates who default on their student loans could reach as high as 40% by 2023. Overall, the government has to do a better job at creating student loan forgiveness programs.

Some currently exist, but no one knows how long they’ll be around. President Trump tried to cut these programs in his first budget, but had to give in to pass this year’s budget. Eventually, this problem will have to be passed to the government to figure out, as the amount of debt continues to climb.

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5 Student Loan Debt Statistics You Should Know

Written by adminAugust 27, 2018
Student Loan Consolidation

As of last year, Americans owed 2.5 times more student debt than they did a decade ago. That totals out to more than $1.3 trillion. It’s basic economic numbers. More young adults are going to college at a time when it’s more expensive than ever. Hence, the student loan debt piles up.

The problem is, it has become a major epidemic. Most young people go to college with the expectation of finding a career as soon as they graduate. But, having to tackle $50,000 worth of debt right out of the gate isn’t helpful.

The Pew Research Center has a lot of staggering facts about this American crisis. Perhaps sharing these will allow you to understand what’s going on and how to prevent it from taking hold in your life. Let’s look at 5 scary facts about student loan debt.

1) 40% of Young Adults Have Student Loan Debt

Between the ages of 18 and 29, about 4 in 10 former students are struggling with this problem. The rest either had a means of paying back their loans or didn’t go to college at all. It’s a fact that student loan debt is much less common with older generations. Only 4% of people over 45 reported having student loans.

It’s true that older adults have had more time to pay off their debts, so they have less. But, there’s more to the story than that. Millennials are really the first generation to take out a loan to pay for school at this degree. Nearly half as many students got a loan in the early 1990s. Most likely college was more affordable or they had a better plan for paying it off.

2) The Amount Owed Varies by Degree

As of 2016, the average amount of student loan debt held by each student was around $17,000. It’s quite obvious that different degrees require higher amounts of loans to be taken out. A quarter of all students owe $7,000 while another quarter have $43,000 in debt. Each level of degree obtained came with higher amounts of debt.

For example, students who had an Associate degree had $10,000 or less. Bachelor’s degree holders had around $25,000 in debt on average. Postgrad degree holders had over $45,000 in debt. 7% of all borrowers owe over $100,000. They’re most likely the future doctors and lawyers of the world.

3) College Graduates are More Likely to Struggle Financially

Here’s an interesting statistic. If you have a college degree and student loan debt, you’re more likely to struggle with your finances and hold down more than one job. That’s because paying back those loans is not an easy task. Loan payments can be nearly as expensive as renting a cheap apartment.

Also: http://financialhelpers.com/trump-administration-signs-massive-student-loan-forgiveness-bill/

Due to the last decade’s Great Recession, more students were leaving college without a plan and without a job. They were more likely to live at home while holding down two or more jobs. In contrast, young adults who didn’t go to college have a better handle on their finances and don’t need to work double jobs to support themselves.

4) College Graduates More Likely to Live in a Higher Income Family

For most people, getting a college degree is a major investment that should pay off later in life. The statistics bear that out. While it is true graduates struggle more right after college, once the degrees are paid off, they’re doing pretty good. Getting a bachelor’s degree or higher, while coming with higher amounts of debt, lead to higher income families.

5) Students with Loan Debt Less Upbeat

According to the Pew Research Center, students who used loans as a way to pay for college were less likely to consider their degree worth it. It’s easy to understand those who found higher value in their degree had their education paid for by someone else. If you have to spend the next decade paying off your education, you’re more likely to think it wasn’t worth it.

Only half of students with outstanding debt say it was worth the investment, while 69% who don’t have debt say it was definitely worth it.

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Student Loan Interest Rates are Rising

Written by adminAugust 22, 2018
Student Loan Consolidation

If you’re someone who is paying off a student loan, added interest is a terrible thing. They make the things we buy with credit more expensive. Of course, the banks love it. And when the rates increase, it’s hardly noticeable. At first.

You may not realize when the rates increase. It happens slowly, but before you realize it, the rates have doubled. The same thing happened the James Park, a 42-year-old scientist.

Paying on his $38,000 student loan, Park rarely noticed anything different. His loan increased monthly in fairly small increments. After three years had passed, he saw that the overall interest doubled. He started out paying 2.4% and recently found it was 4.3%.

Tackling the Student Loan Problem

All over the country, people are suffering under the heavy burden of their student loans. While the current economic climate is improving, it allows for interest rates to soar. When times are bad, the government can lower the rates to help people get by. They even offer student loan forgiveness to those who qualify.

The last thing anyone wants to do is pay more money over the life of their student loans. If you’re struggling, there are several options at your disposal. The first is having a firm understanding of what your interest rate does and why you have it. Only then can you go through the process of fixing it.

Understanding Your Interest Rate

You might think that the federal government is typically in charge of the student loan rate, but that’s not always the case. If you’ve received a private student loan, it most likely comes from a rate that is tied to something called Libor. Libor refers to the London Interbank Offered Rate. As the rates go up or down, that’s typically what most students receive that year.

See also: http://financialhelpers.com/student-loan-debt-is-hurting-the-economy/

For this reason, students receiving a loan this year will have a higher rate than if they got one last year, and so on. There are other variables as well, such as your credit score, history, and whether you have a co-signer.

The problem is, most college students get a student loan with zero credit to their name. Rates are often high and take as long as a decade to pay back. This only adds fuel to the epidemic already raging when interest rates climb higher.

How to Fix the Student Loan Problem

One of the first things you should do if dealing with student debt is calling Financial Helpers. Our team of experts handles this type of situation every single day. The government offers several student loan forgiveness programs for people who qualify. Most borrowers have little knowledge of their options, so calling the number below is important to find out.

Call Now 844-332-2079

Because your rate is often tied into your credit score, that gives you some options as well. When Park first got his student loan, he had little income and no credit. Once he graduated and found employment, made on-time payments, his score improved. Park was able to refinance his loan and get a lower, fixed rate.

A fixed rate means you’ll pay that single rate, no matter how the interest changes. Refinancing your loan can help you get a much better rate. If your credit score improved, that means you’re more trustworthy to a creditor. That equals to lower overall payments.

Student loan forgiveness, refinancing, and getting a fixed rate all possible. You don’t need to suffer any longer. Call Financial Helpers today to see your options.

Call Now 844-332-2079

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Student Loan Debt is Hurting the Economy

Written by adminAugust 20, 2018
Student Loan Consolidation

As August is wrapping to a close, many fresh-faced college students are descending into their dorms to obtain the holy grail known as a college degree. Many believe they MUST get a degree, but there’s an even bigger debate raging on: is it worth it? Student loan debt is crippling so many people.

Currently in the United States, there are millions of people who can’t afford to move on with their life after college. They’re so entrenched and burdened with student loan debt that becomes impossible for them to move on with their life.

Student Loan Debt in the Trillions

If you look at the top three debts most Americans hold, student loan debt would be number two, weighing in at over $1.4 trillion. The first would be mortgage debt at $9 trillion. This is the only issue to hit college students once they graduate. They then must spend the next decade of their lives seeking out student loan forgiveness options.

There’s a report by Bloom Economic Research reveals the numerous challenges faced by people who have a ridiculous amount of student loan debt. Families are left with options before and after school to attempt to pay for higher costs.

Also: http://financialhelpers.com/trump-administration-signs-massive-student-loan-forgiveness-bill/

Many families tried to tap into their home equity to try and pay for their children’s college, but after the economy went down and home values tanked, this only left them with a few options. It was these options that caused the inflation of higher college costs. Now, student loan debt is at its highest level it’s ever been in this country’s history.

Tuition Rising Even as Student Loan Debt Rises

Even as student debt becomes an epidemic, and more students seek out student loan forgiveness programs after they graduate, prices keep going through the roof. Between 2007 and 2017, the overall cost of college has risen 176%.

It breaks down like this:

-CPI rose by 21%.
-Textbooks up 88%.
-School housing up by 51%.
-Student debt has tripled since 2017.

Student Loan Payments Hamper Economic Growth

It’s not just student loans that are growing. The cost of literally everything else is going up as well. The average rent is up 2.8% alone from last year. The average cost of rent per month in the United States is $1,400, according to RentCafe.

If you add on the average student loan payment of $351, yet people are spending as much as $1,800 even before they buy groceries and turn on the lights. This is your lucky enough to jump into a career as soon as you graduate. Many Americans aren’t that lucky.

Student loan forgiveness is really the only hope a lot of Americans have. The government continues to create programs to help struggling students, and there are better options for paying off debt sooner. Rather than plugging away at the debt for a decade and putting off important life events, there are options you might not be aware of.

Calling Financial Helpers today can help create a program that works for you to pay off student debt sooner, and even offer student loan forgiveness to considerably reduce your overall debt and payments. To learn more, call the number below:

Call Now 844-332-2079

Student Loan Debt Problems Add Up

Nearly half of all people between the ages of 18 and 34 have student loan debt. This debt averages out at around $33,000 per person, but can be as high as $150,000. This is the age when most people should be enjoying their careers, buying a house, and starting a family.

But, if you have a ridiculous amount of debt, it will impact your ability to do incur more debt to do those things. It can cause your credit score to lower, and keep banks from offering a mortgage and/or vehicle loan.

It’s sort of like a vicious cycle. More debt means less people buying things. Less people buying things hurts the economy, so jobs are lost. When economic growth is stagnant, wages stand still. When inflation occurs, the price of everything gets more expensive, but wages are still stuck and debt keeps piling up.

The Impact of Student Loan Debt

Right now, baby boomers are forced to care for their children who can’t afford to move out on their own. The birth rate has fallen nearly 30% because marriage and starting a family has been pushed off until things are better.

According to Jerome Powell, the chairman of the Federal Reserve, this vicious cycle is only getting worse.

“You do stand to see longer-term negative effects on people who can’t pay off their student loans. It hurts their credit rating, it impacts the entire half of their economic life. As this goes on and as student loans continue to grow and become larger and larger, then it absolutely could hold back growth.”

Something has to change. The scary thing is, the more relief the government finds for students, the more colleges decide to up their prices. Student loan forgiveness might just be the only option they have left.

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Shouldn’t Graduating from College be a Monumentous Occasion?

Written by adminJanuary 4, 2017
Student Loan Consolidation

Graduating from college should be a monumentous occasion; a launch into advanced careers and higher salaries. Today, more than 25% of students who graduate, do so with far too much debt, affecting their post-graduate career, often saddling them with inordinate amounts of pressure and anxiety instead of focusing on their lives.

However, this is manageable, and the key is to act as soon as you can to stop interest from accumulating, and to mitigate the effects the debt has in your everyday life. This “cycle of debt” can be beaten- you may qualify for a loan forgiveness program!

In short, after a set amount of time and if you meet a few requirements, the United States governement has legislation in place to help absolve the debt accumulated by the graduates of America’s esteemed universities.

There are two requirements before applying for student debt relief;

  1. Have a debt of at least $10,000.00 in student debt.
  2. You must have finished school or are not attending school at the time of the call.

With those qualifications met, you can call us at 1-855-534-4290 to get additional information, get questions answered or find out if you qualify. An expert will be more than happy to address your needs and discuss your situation in less than 60 seconds.

There is no time like the present, so call now and get the debt out of your life as soon as possible!

SEE IF YOU QUALIFY NOW »

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4 Interesting Facts About The Public Service Loan Forgiveness Program

Written by adminJanuary 4, 2017
Student Loan Consolidation

[dropcap]Y[/dropcap]ou can receive up to 100 percent student loan forgiveness if you use your degree to obtain a career in public service. You must work for qualified employers for at least 10 years while making 120 timely payments in accordance with the selected repayment plan. Upon fulfilling the program requirements, your remaining loan balance is forgiven. Since the IRS does not view the forgiven balance as income, you will not even need to claim that amount on your taxes. Before you sign up for the Public Service Loan Forgiveness, or PSLF, program, here are four important facts you need to know.

Consolidated Loans Qualify

All loans received under the William D. Ford Federal Direct Loan program qualify for the forgiveness plan. If you have additional loans under the Federal Family Education Loan or Federal Perkins Loan programs, you can consolidate to wrap them into the qualifying loan amount. You must complete the loan consolidation process early, and in full, to avoid making additional unnecessary payments. Once you consolidate your loans, the counter for the 120 qualifying payments resets. Therefore, it is of vital importance that you consolidate your loans immediately upon reaching the end of your grace period.

Employment Restrictions Exist

To qualify for the PSLF program, you must work in a career dedicated to serving the public. Throughout the repayment period, you must maintain full time employment or work at least 30 hours a week across multiple part time positions. Certain careers also require employment with an organization dedicated to improving the lives of low income individuals. Teachers, librarians, childcare workers, speech pathologists and attorneys, for example, only qualify if their position serves low income communities. Police officers, firefighters and medical providers, on the other hand, do not have any additional employment restrictions.
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Timely Monthly Payments Required

You can select the 10-year Standard Repayment Plan or apply for one of the income driven options to start working toward 120 qualifying payments. You must make the payments in full and on time to ensure they meet the strict program requirements. You can schedule automatic withdrawals through your bank to ensure your monthly payment arrives on time. If you run into financial difficulties and cannot make your payments, you can place your loans in forbearance or deferment and resume the repayment plan at a later date.

Periodic Form Submission Needed

If you are not sure if you have fulfilled the program requirements, you can submit an Employment Certification for Public Service Loan Forgiveness form. You should also submit this form whenever you start a new job to make sure your employer meets the program restrictions. Once you reach the 120 qualified payment mark, your loan balance is not instantly forgiven. Instead, you must fill out the PSLF application forms and send them to your loan servicer for processing. You will receive a loan forgiveness confirmation upon completion of the verification process.

Preparing Your Loans For The Forgiveness Program

To ensure your student loans are fully prepared for the forgiveness program, talk to a consolidation expert about your unique financial situation. Your loan consolidation professional will find and combine all of your loans to create a single entity that qualifies for participation in the Public Service Loan Forgiveness program. You may also want to receive help selecting an appropriate repayment program for your financial situation. Enlisting a professional in these endeavors ensures you do not leave loans out of the consolidation group, select the wrong repayment program or miss any application steps.

SEE IF YOU QUALIFY NOW »

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