The term "Loan Rehabilitation Program" refers to a type of financial assistance provided by certain organizations or institutions, typically governmental or non-profit in nature. The purpose of this program is to offer relief and support to individuals who are struggling with their debt obligations, particularly those who have taken out loans for education or other purposes but are now facing difficulties making the required payments due to financial hardship or other circumstances beyond their control.
The loan rehabilitation program typically involves negotiating new repayment terms and conditions that are more manageable for the borrower, often including lower monthly payments, reduced interest rates, or extended repayment periods. The goal of this type of assistance is to help individuals get back on track with their debt obligations while also providing them with resources and support to improve their financial situation over time.
Overall, the loan rehabilitation program aims to provide relief for borrowers who are in need, while also working towards ensuring that they can successfully repay their loans in full over time.