Under this plan, you may qualify for an Income Based Payment. In this repayment program, you would have a payment based on your income and family size. The payment could be as low as $0.00 per month, with forgiveness at the end of 20-25 years.
Loan consolidation will take all your federal student loans and combine them into one new loan. You will have only one lender, with one monthly payment. In this consolidation you are able to choose a payment plan that’s affordable to you. By consolidating you also may become eligible for loan forgiveness.
If you have Federal Student Loans you may qualify for any of the student loan forgiveness programs that are available to borrowers. You may be eligible for principal reduction, loan forgiveness, or a complete loan discharge depending on your individual circumstance.
Teachers may qualify for $5,000 or $17,500 in principal reduction on their federal student loans. Teachers may also qualify for Public Service Loan Forgiveness and have any reduction on their federal student loans. Teachers may also qualify for Public Service Loan Forgiveness and remaining balance on their federal student loans forgiven after 120 payments.
Great experience as a whole. I'm very pleased with my new payments. I use to stress out aboutmy student loan, now I don't even think about it or worry about it any more. They explained it and gave me op)ons to most importantly get me out of default status and improve my credit with this program so i'm esta)c to say the least! Thank you SLDS!!