Did you know that when it comes to your student loan debt that the U.S. government through the Department of Education has created many programs that millions of borrowers fail to take advantage of. Literally, millions of unclaimed benefits go unused because the public is either unaware or finding it difficult to navigate the “red tape” to gain access to programs that are specifically set aside for student loan borrowers.
Through the WILLIAM D. FORD ACT the U.S. Department of Education offers various Student Loan Consolidation Programs in which will pay your existing lenders, which “consolidates” all of your federal loans into one new loan. These programs were designed to assist student loan borrowers who are struggling to make their monthly payments. The U.S. Department of Education considers income and family size to determine which program the borrower is most suited for. For example, if you have a large family and/or a low income, it may be most advantageous to enroll in the Income Based Repayment program where your new payment will be set based on your ability to pay.
The monthly payment is calculated based on your disposable income (income after expenses), even if that means a $0.00 monthly payment! SOME OF THESE PROGRAMS OFFER COMPLETE AND TOTAL STUDENT LOAN FORGIVENESS! Speak to and Adviser today to see what your options are.
There are seven different programs they offer:
If you would like to see if you're eligible for a Federal Repayment Program that includes Forgivness, contact us at (844) 499-5626