Debtcare Center was established to assist those who are struggling with their Federal Student Loans. There are programs available that allow borrowers monthly payment relief, loan forgiveness, loan management, payment deferment, and other help with their student loans. If you'd like to gain your financial freedom, contact us today for your free evaluation—you can email us any time, or call one of our student debt consultants. Find out what a financial freedom future can look like for you! Call 866-898-4678.
Loan consolidation can simplify your monthly payments by centralizing numerous loans into one. With larger loan balances it will allow students up to 30 years to repay the loan. The student can also choose to repay the loan under a new repayment plan, with a fixed interest rate. The fixed rate is based on the average interest rates of the loans being consolidated.
Repaying your loan under a new income driven repayment plan can qualify you for loan forgiveness if you’ve met qualifications set by the Department of Education, through the Obama Administration.
When borrowers repay their loan under the IBR, and have met requirements, a balance remaining under the loan will be forgiven after 25 years of qualifying repayment. If the student is a full time employee for a public service organization, after 120 on-time, full monthly payments are made, the student may qualify for loan forgiveness on the remaining balance of their Direct Loan under the Public Service Loan Forgiveness Program.
When borrowers repay their loan under the PAYE, and have met requirements, a balance remaining under the loan will be forgiven after 20 years of qualifying repayment. If the borrower is a full time employee for a public service organization, after 120 on-time, full monthly payments are made, the student may qualify for loan forgiveness on the remaining balance of their Direct Loan under the Public Service Loan Forgiveness Program.
The remaining loan amount after 25 years of payments will be forgiven.
Borrowers who have taught full-time for five complete and consecutive academic years in elementary, secondary schools and educational service agencies that serve families with low-income, and have met qualifications, may have their loan forgiven up to $17,500.
Borrowers may have their loan forgiven if they work full-time in public service jobs, and have made 120 qualifying payments. Payments must be made under a qualifying repayment plan. The remaining balance on the loan can be forgiven. Following are public service jobs that will qualify a borrower for a public service loan forgiveness:
Disclaimer: Debtcare Center is a private organization and is not affiliate with the Department of Education or any other loan servicing agency. Individual results may vary. By providing your contact information, you agree to receive return telephone calls, emails or other communications from Debtcare Center and/or its affiliates and expressly waive any “No Call” preference or registration. All decisions are subject to Department of Education (DOE) approval. Debtcare Center is a document preparation, submission and tracking service, our fee is only for the preparation, submission & tracking of your Federal Student Loan Consolidation documents.