You will only be eligible for this type
of federal student loan forgiveness if your school's misleading activities or other misconduct directly relate to the loan or to the educational services for which the loan was provided.
If you are eligible to
receive federal student loan forgiveness, you may be able to have all or part of your outstanding federal student loan debt forgiven, and you also may be reimbursed for amounts you have already paid on those loans.
Borrowers who attended Corinthian Colleges (Everest, Heald, and WyoTech) with a first date of attendance between July 1, 2010, and Sept. 30, 2014, and are seeking
federal student loan forgiveness through borrower defense will complete a Corinthian - specific application.
The other two common ways to
get Federal student loan forgiveness is to be a teacher, which has it's own Teacher Loan Forgiveness Program (which doesn't cover as much as PSLF), and military service loan forgiveness (which is also being phased out due to the PSLF program).
Lastly, any borrower that attended a for - profit school that shuttered its doors should be reaching out to the U.S. Department of Education to inquire about
special federal student loan forgiveness and cancelation plans that might apply to their situation
Generally, you may be eligible for
federal student loan forgiveness if you either attended a Corinthian school that closed on April 27, 2015, or you believe you were defrauded by the school you attended or it otherwise engaged in actions that violated state law.
Those
seeking federal student loan forgiveness may be eligible for up to three years, while forgivable loans may hold a two - or three - year term, depending on the length of the student's educational program.
Overall,
federal student loan forgiveness can be a smart strategy for borrowers who plan to work in a certain career field or select an income - driven repayment plan after graduation.
However, borrowers need to be aware of the caveats of
federal student loan forgiveness, including tax implications, uncertainty about the viability of forgiveness programs, and the need to take lower - income positions before relying heavily on a forgiveness program to repay student loan debt.
Additionally, borrowers who plan to utilize
a federal student loan forgiveness program are susceptible to legislative changes that could severely impact their chances of being released from obligations.
And that means you'll lose access to federal forbearance and deferment, income - driven repayment plans, and
federal student loan forgiveness.
If your income is unsteady, you have trouble making monthly payments, or are interested in pursuing
a federal student loan forgiveness program, refinancing is probably not right for you.
Most of what you hear in the news regarding student loan forgiveness is related to
federal student loan forgiveness.
Overall,
federal student loan forgiveness can be a smart strategy for borrowers who plan to work in a certain career field or select an income - driven repayment plan after graduation.
Additionally, borrowers who plan to utilize
a federal student loan forgiveness program are susceptible to legislative changes that could severely impact their chances of being released from obligations.
However, borrowers need to be aware of the caveats of
federal student loan forgiveness, including tax implications, uncertainty about the viability of forgiveness programs, and the need to take lower - income positions before relying heavily on a forgiveness program to repay student loan debt.
Did you know that these are different from all of
the Federal student loan forgiveness programs that we usually talk about?
However, residents of the State of Wyoming can also potentially qualify for various
Federal student loan forgiveness programs.
However, residents of the State of Massachusetts can also potentially qualify for various
Federal student loan forgiveness programs.
However, residents of the State of South Carolina can also potentially qualify for various
Federal student loan forgiveness programs.
However, residents of the State of Maine can also potentially qualify for various
Federal student loan forgiveness programs.
However, residents of the State of Vermont can also potentially qualify for various
Federal student loan forgiveness programs.
However, residents of the State of North Carolina can also potentially qualify for various
Federal student loan forgiveness programs.
Phrases with «federal student loan forgiveness»