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Student Debt Modifications

HOW TO DEFER OR DISCHARGE STUDENT LOAN DEBT student loan forgiveness program

Do I Qualify ?

While any lender could theoretically forgive a debt this process primarily occurs where government approved programs are used to forgive federally subsidized loans.

These programs of forgiveness were created to incentivize certain types of employment, assist former students with lower income jobs, to compensate for disabilities etc.

The government has many  loan forgiveness and income-based repayment programs that can lower your monthly student loan payments up to 85%. In some instances ZERO payments with loan forgiveness.

There are four ways borrowers can have their federal student loans forgiven through a variety of government programs.

  1.  Applly for the Income-Based Repayment Plan. ...
  2. Get a public service, government or non-profit job...
  3. Become a public school teacher in a low-income area. ..
  4.  Join the military

Qualifying Loan Types:

Under PSLF, all Direct Loans qualify, including:

  • Direct Subsidized and Unsubsidized Loans
  • Direct PLUS Loans
  • Direct Consolidation Loans
  • Federal Perkins Loans and Family Education Loans (FFEL) are only eligible for PSLF if you consolidate them first via a Direct Consolidation Loan.

You may also qualify for Loan Discharge. Under the following conditions:

  • You  could not complete your program because the school closed.
  • Your eligibility to receive the loan was falsely certified by the school.
  • Your eligibility to receive the loan was falsely certified through identity theft.
  • You withdrew from school but the school didn’t pay a refund of your loan money that it was required to pay under applicable laws and regulations.
  • If you're permanently disabled