Every consolidation that we process will be under the William D. Ford Federal Direct Program, also known as the Obama Student Loan Forgiveness program. This program has loan forgiveness built in to the end of your payment terms. When you have made your payments for the allotted time, any unpaid balance will be forgiven by the Department of Education. There are many different repayment options associated with the Obama Student Loan consolidation program. There are also certain situations in which your loan can be paid off early, or the principle can be reduced. Call us today to see if you qualify!
The Teacher Loan Forgiveness program is the most beneficial to teachers, as it allows for early forgiveness as well as the principle reduction. Teachers might be eligible for $5,000 to $17,500 in principle reduction under certain circumstances. The main reason for the principle reduction, is to get people to go into the field of teaching, as well as to stay in the teaching field. Teachers qualify for complete loan forgiveness after 10 years of payments and service as a teacher. For more information, please call us.
If you work full-time in a public service position, you might be eligible for the public service loan forgiveness plan. The balance of your Federal Student Loan could be completely forgiven after you have made 120 payments under certain repayment plans. For more information, please call us.
If you are unable to work because of a physical or mental impairment, you might qualify for a discharge of your Federal Student Loan balance. For more information, please call us.