Monthly Archives: November 2011

Repayment Strategies for Getting Out Of Student Loan Default

The two primary ways to get out of Student Loan Default are through Consolidation and Rehabilitation. The first step is to research your student loan online and determine what kind of loans that you have under your account. Check the … Continue reading

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Disability Discharge of Federal Student Loans

The borrower’s permanent and total disability is grounds for a student loan discharge. Borrowers with FFELs, Direct Loans, and Perkins loans are eligible for this discharge.[1] This includes consolidation loans. The definition of disability changed as of July 1, 2010. … Continue reading

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Other Profession-Related Loan Cancellation Programs

The Department of Education administers a loan-forgiveness program for certain child care providers with FFELs or Direct Loans.[1] Under this program, borrowers who have received an associate’s or bachelor’s degree in early childhood education or child care and who are … Continue reading

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Perkins Loan Forgiveness Program

The Perkins Loan Forgiveness Program was the first to provide for cancellation of loans for teachers in low-income school districts. A 2005 Second Circuit decision broadened the Perkins Loan Forgiveness Program to include numerous occupations related to teaching, public interest … Continue reading

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Teacher Loan Forgiveness Program

Teachers who are full time and work five (5) consecutive years in certain schools that serve low income families are eligible to erase $5,000.00 of their federal student loans. Math or Science teachers in eligible secondary schools and special education … Continue reading

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Loan Forgiveness Program

This program is available to all borrowers who work in public service jobs for ten (10) years and participate in a eligible repayment plan (IBR or ICR). The remaining balance of the student loan (principal and interest) is forgiven after … Continue reading

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