You must repay your loans even if you don’t complete your education, can’t find a job related to your program of study, or are unhappy with the education you paid for with your loan. However, in certain situations, you can have your federal student loan forgiven, canceled, or discharged.
“Student Loan Forgiveness” or “Loan Repayment Programs” offer a great opportunity for students to eliminate a great part of their student loans and can provide much more affordable payments.
There are several plans available for which you can qualify.
These programs can eliminate anywhere from a few thousand dollars to $100,000 of student loan debt. Ironically, many graduates are completely unaware of these opportunities.
Student Loan Forgiveness programs are backed by the Federal government and cover loans issued through Federal programs such as Stafford and Perkins student loans.
Student Loan Repayment programs, which are more widespread than forgiveness programs, may be used to eliminate any type of loan excluding private loans.
At the Student Debt Center we can explain all of these programs, determine what is the best option available to you based on your specific circumstances and handle the entire process to make sure you take advantage of the financial benefits that these programs offer.
All of these programs are budget based and there is no telling how long they will be around. It is to your best interest to find out soon how you can benefit and get some financial relief on your student loan payments.