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Once your loans are consolidated our expert team of Account Managers and Processors will take care of the rest for you. Income Driven Repayment Plans & Loan Forgiveness.
Income Contingent Repayment (ICR) Plan
The Income Contingent Repayment (ICR) Plan is a federal student loan repayment option designed to make monthly payments more manageable by basing them on a borrower’s income, family size, and total loan balance. While it is less restrictive than other income-driven plans, ICR may result in higher payments for some borrowers, depending on their financial situation.
How ICR Works
Under ICR, your monthly payment is calculated as the lesser of:
- 20% of your discretionary income, or
- A fixed amount you would pay on a 12-year repayment plan, adjusted for your income.
Discretionary income for ICR is defined as the difference between your adjusted gross income (AGI) and 100% of the federal poverty guideline for your family size and state of residence.
The repayment term is extended to 25 years. If a balance remains after 25 years of qualifying payments, it is forgiven, though this forgiven amount may be taxable.
Eligibility Requirements
Loan Type:
- Available to borrowers with Direct Loans, including Direct Consolidation Loans.
- Parent PLUS loans are eligible only if consolidated into a Direct Consolidation Loan.
No Hardship Requirement:
- Unlike other income-driven plans, ICR does not require borrowers to demonstrate financial hardship to qualify.
Benefits of ICR
Inclusive Eligibility:
- Parent PLUS loan borrowers can access ICR if they consolidate their loans.
Flexible Payment Calculation:
- Offers two ways to calculate payments, ensuring flexibility for borrowers with diverse financial situations.
Loan Forgiveness:
- After 25 years of payments, any remaining balance is forgiven.
Adaptable to Income Changes:
- Payments adjust annually based on income and family size, accommodating fluctuations in earnings.
Limitations of ICR
Higher Payments for Some:
- Payments may be higher compared to other income-driven repayment plans, especially for borrowers with lower incomes.
Tax on Forgiven Debt:
- Any forgiven balance after 25 years may be considered taxable income.
Loan Type Restrictions:
- Parent PLUS loans must be consolidated before qualifying for ICR.
Longer Repayment Period:
- The 25-year repayment term means a longer commitment compared to some other plans.
Who Should Consider ICR?
ICR is particularly beneficial for:
- Parent PLUS Loan Borrowers: Those who don’t qualify for other income-driven plans.
- Borrowers Without Financial Hardship: Those who may not meet the criteria for plans like PAYE or SAVE but still want an income-based payment structure.
- Individuals Seeking Long-Term Flexibility: Those who value a plan that adjusts with income over time.
The ICR plan provides a flexible and inclusive option for federal loan borrowers. While its payments may be higher for some, its accessibility and adaptability make it a valuable choice for those with diverse financial needs or unique loan types, such as Parent PLUS borrowers.
SAVE Plan (Saving on a Valuable Education)
The SAVE Plan, introduced as a new iteration of the REPAYE plan, is designed to make student loan repayment more affordable and protect borrowers from ballooning interest. It emphasizes capping payments based on income and minimizing unpaid interest, offering significant financial relief for eligible federal student loan borrowers.
How the SAVE Plan Works
The SAVE Plan calculates monthly payments at:
- 10% of discretionary income for undergraduate loans.
- A weighted average of 10% for undergraduate loans and 20% for graduate loans for borrowers with both types.
Discretionary income is defined as the difference between your adjusted gross income (AGI) and 225% of the federal poverty guideline for your family size and state of residence, providing a larger exemption compared to older plans.
Borrowers are eligible for loan forgiveness after:
- 20 years of payments for undergraduate loans.
- 25 years for graduate loans.
Key Features and Benefits
Interest Subsidy:
- If your monthly payment doesn’t cover accruing interest, the government covers the difference. This prevents loan balances from growing, even if payments are very low or $0.
Zero Payments for Low-Income Borrowers:
- Borrowers earning under 225% of the poverty guideline (around $32,800 for a single individual in 2024) have $0 monthly payments.
Forgiveness After Completion:
- Balances are forgiven after 20–25 years, depending on the loan type, with no further obligation.
Protection Against Ballooning Balances:
- The interest subsidy prevents your loan balance from increasing, even during periods of non-payment or low payments.
Family Size Adjustments:
- Payments adjust annually based on family size and income, ensuring affordability throughout changing circumstances.
Eligibility for SAVE Plan
Loan Type:
- Only federal Direct Loans qualify. Borrowers with FFEL or Perkins Loans must consolidate them into a Direct Consolidation Loan to become eligible.
- Parent PLUS loans are not eligible.
Recertification:
- Borrowers must recertify their income and family size annually to maintain eligibility.
No Financial Hardship Requirement:
- The plan is open to all eligible borrowers regardless of financial hardship.
Limitations of SAVE Plan
Long-Term Commitment:
- Forgiveness requires 20–25 years of payments, which may feel daunting to some borrowers.
Tax on Forgiven Balance:
- Forgiven loan balances may be subject to federal income taxes, though this depends on tax policies at the time of forgiveness.
Consolidation Requirements:
- Borrowers with non-Direct Loans must consolidate, potentially resetting their repayment term.
Who Should Consider the SAVE Plan?
The SAVE Plan is an excellent option for:
- Low-Income Borrowers: Those who qualify for $0 payments or reduced monthly amounts.
- Borrowers Seeking Forgiveness: Individuals with substantial student loan debt who want eventual balance forgiveness.
- Borrowers Concerned About Interest Growth: Those struggling to prevent their loan balances from increasing due to unpaid interest.
The SAVE Plan provides enhanced affordability and a safety net for federal loan borrowers, addressing many common financial challenges while offering a clear path to eventual loan forgiveness. It is a powerful tool for borrowers looking for a sustainable repayment option.
Loan Rehabilitation Program
The Loan Rehabilitation program is designed to help federal student loan borrowers who have defaulted on their loans. This program provides a structured path to get out of default and return to good standing by rehabilitating the loan. Successfully completing the rehabilitation process allows borrowers to regain eligibility for federal student aid, avoid wage garnishment, and restore their credit status.
How Loan Rehabilitation Works
Loan rehabilitation is a one-time process that allows borrowers to remove the default status from their loans by making nine voluntary, reasonable, and affordable monthly payments over a 10-month period. The payments are based on the borrower’s income and financial situation. Once the borrower completes the required payments, the loan is considered rehabilitated, and it is no longer in default.
The rehabilitation process involves several steps:
Income-Based Payment:
The borrower works with the loan servicer to determine a reasonable monthly payment based on income. This payment is typically lower than what would be required under the standard repayment plan.Nine Monthly Payments:
Borrowers must make nine consecutive payments within 20 days of the due date. These payments are spread over 10 months.Credit Report Impact:
During rehabilitation, the default status is reported to credit bureaus, but after successful completion, the default is removed from the borrower’s credit report. However, other late payments or defaults prior to the rehabilitation may still impact credit scores.Regaining Federal Aid Eligibility:
After completing the program, borrowers regain eligibility for federal student aid programs such as grants, loans, and work-study programs.
Eligibility for Loan Rehabilitation
Loan Type:
- Available for federal loans in default, including Direct Loans, FFEL (Federal Family Education Loans), and Perkins Loans.
- Private loans or loans not in default are not eligible for rehabilitation.
Default Status:
- Only loans that are in default are eligible. If a borrower is not in default, the rehabilitation process cannot be used to modify loan status.
Benefits of Loan Rehabilitation
Restored Credit:
- Completing rehabilitation results in the removal of the default status from the borrower’s credit report. Although previous late payments may still appear, removing the default can help improve credit scores significantly.
Restoration of Federal Aid Eligibility:
- Borrowers who complete the rehabilitation process regain access to federal student aid programs, which may help with ongoing education or refinancing options.
Avoidance of Wage Garnishment and Collections:
- During the rehabilitation period, any wage garnishments, tax refund offsets, or collection actions are halted, giving borrowers some breathing room to get back on track.
Preventing Further Collection Efforts:
- Once rehabilitation is complete, the loan is considered out of default, which prevents further aggressive collection activities.
More Manageable Payments:
- The income-driven payment structure of rehabilitation makes it a more manageable process for borrowers who are struggling financially.
Limitations of Loan Rehabilitation
Time Commitment:
- The process takes about 10 months to complete, requiring nine timely payments. Missing payments during the process can delay rehabilitation or even disqualify the borrower from completing the program.
Only Available Once:
- Loan rehabilitation can only be used once for each loan. After that, the borrower must look into other options such as consolidation or income-driven repayment.
Negative Impact on Credit During the Process:
- Although the default status is removed after rehabilitation, the loan is still reported as “in rehabilitation,” which may have a negative impact on a borrower’s credit report during the process.
High Interest and Fees:
- Interest and fees may continue to accrue during the rehabilitation process, making the total amount owed higher even after completion.
Who Should Consider Loan Rehabilitation?
Loan rehabilitation is ideal for borrowers who:
- Are in Default: Those who have fallen behind on their payments and have defaulted on their federal student loans.
- Need to Regain Federal Aid Eligibility: Borrowers who wish to return to school or need access to federal student aid programs.
- Want to Repair Their Credit: Borrowers looking to remove the default status from their credit report and improve their financial standing.
The Loan Rehabilitation program offers a fresh start for borrowers who are struggling with defaulted loans, providing a structured path back to good standing. While the process requires dedication and commitment, the benefits of restored eligibility for federal aid, improved credit, and a more manageable payment plan make it an important tool for those who need a way out of default.
Loan Consolidation
Loan consolidation is a process that allows borrowers to combine multiple federal student loans into a single loan. This is particularly beneficial for borrowers who have several loans with different servicers, as consolidation simplifies repayment by providing a single monthly payment. Consolidation can also offer access to other repayment options and forgiveness programs, making it a valuable tool for borrowers seeking to streamline their student loan management.
How Loan Consolidation Works
Federal student loan consolidation involves combining one or more federal loans into a Direct Consolidation Loan. The new loan will have a fixed interest rate that is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth percent. Consolidation does not affect the borrower’s credit score, and it simplifies the loan repayment process by reducing multiple payments to just one.
The consolidation process typically takes about 30 to 60 days, and borrowers can choose to consolidate loans while still in school, during the grace period, or after graduation. To consolidate, borrowers must have at least one loan that is eligible for consolidation. Federal loans like Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, Federal Family Education Loans (FFEL), and Perkins Loans are all eligible.
Benefits of Loan Consolidation
Simplified Payments:
Consolidating loans reduces the number of monthly payments by merging all loans into one. Borrowers no longer have to juggle multiple payment due dates and can pay one monthly bill instead of several.Access to Income-Driven Repayment Plans:
By consolidating loans, borrowers may gain access to income-driven repayment plans that may not have been available on older loan types. These plans, including Income-Based Repayment (IBR) and Pay As You Earn (PAYE), can offer lower monthly payments based on income and family size.Loan Forgiveness Programs:
Consolidating loans can make borrowers eligible for Public Service Loan Forgiveness (PSLF), provided they are employed by qualifying public service employers. If borrowers have been in repayment under other plans for some time, consolidation might restart their eligibility for PSLF or other forgiveness programs.Fixed Interest Rate:
Consolidation locks in a fixed interest rate for the new loan, which can be beneficial in times of fluctuating rates. While the new rate may be slightly higher than the original rates, it offers stability over the loan’s life.Extended Repayment Term:
Loan consolidation can provide an extended repayment period of up to 30 years, depending on the total amount of consolidated debt. This can lower monthly payments and make repayment more manageable. However, this extended term may lead to paying more interest over the life of the loan.
Drawbacks of Loan Consolidation
Loss of Borrower Benefits:
Some borrowers may lose certain borrower benefits if they consolidate. For example, if borrowers had specific interest rate discounts or eligibility for deferment or forbearance options on their original loans, these may not transfer over.Interest Accrual on Unpaid Interest:
While consolidation offers simplicity, it also means that any unpaid interest on the loans being consolidated will be added to the new loan principal. This can result in a higher loan balance and more interest paid over time.May Reset Repayment Clock for Forgiveness:
For borrowers who are pursuing loan forgiveness, consolidating loans might reset their progress toward forgiveness. Borrowers in Public Service Loan Forgiveness (PSLF) or Teacher Loan Forgiveness programs should be cautious, as consolidating loans may erase any qualifying payments made under their current repayment plan.Higher Total Interest:
Although consolidation simplifies repayment, extending the loan term could lead to paying more in total interest over time. Borrowers should carefully weigh the trade-off between lower monthly payments and the long-term cost of the loan.
Eligibility for Loan Consolidation
Eligible Loans:
Only federal student loans are eligible for consolidation, including Direct Loans, FFEL loans, Perkins Loans, and some other federal loans. Private loans are not eligible for consolidation through the federal Direct Consolidation Loan program.Minimum Loan Balance:
There is no minimum loan balance to consolidate; however, borrowers must have at least one federal loan that is eligible for consolidation.Repayment Status:
Borrowers may consolidate loans even if they are in default, though they must make a satisfactory repayment arrangement, such as agreeing to a payment plan, before they can consolidate their loans.
Who Should Consider Loan Consolidation?
Loan consolidation is ideal for borrowers who:
- Have Multiple Federal Loans: Those with loans spread across various servicers who want to simplify their monthly payments.
- Seek Access to Income-Driven Repayment Plans: Borrowers looking for a lower monthly payment option based on their income.
- Want to Extend the Repayment Term: Borrowers who are struggling to make monthly payments and would like to reduce their payments by extending the loan term.
- Need Access to Forgiveness Programs: Borrowers working in public service or education who want to take advantage of PSLF or Teacher Loan Forgiveness.
Public Service Loan Forgiveness (PSLF)
Public Service Loan Forgiveness (PSLF) is a federal program designed to forgive the remaining balance of federal student loans for borrowers who work in qualifying public service jobs. This program is specifically aimed at individuals employed by government entities or eligible nonprofit organizations. PSLF offers significant relief to borrowers who have dedicated themselves to public service careers, making it an important option for those working in education, healthcare, law enforcement, social services, and other public sector fields.
How Public Service Loan Forgiveness Works
PSLF offers borrowers the opportunity to have their student loan balances forgiven after making 120 qualifying monthly payments under a qualifying repayment plan while working for a qualifying employer. These 120 payments must be made over the course of 10 years, and once the borrower has met the payment and employment requirements, the remaining loan balance is forgiven.
The key to PSLF is that borrowers must work full-time for a qualifying employer, which includes government organizations at the federal, state, local, or tribal level, as well as nonprofit organizations that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code. Some other nonprofit organizations may also qualify, such as those that provide public health services, legal assistance, or social services.
Eligibility Requirements for PSLF
To qualify for Public Service Loan Forgiveness, borrowers must meet the following criteria:
Qualifying Loans:
Only Direct Loans are eligible for PSLF. If a borrower has other types of federal loans, such as Federal Family Education Loans (FFEL) or Federal Perkins Loans, these loans must be consolidated into a Direct Consolidation Loan before the borrower can start making qualifying payments toward PSLF.Qualifying Employment:
The borrower must work full-time for a qualifying employer. Eligible employers include:- Government organizations at the federal, state, local, or tribal level
- Nonprofit organizations that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code
- Other nonprofit organizations that provide services in areas like public health, public safety, law enforcement, or social work
- Certain private nonprofit organizations that perform public service functions (e.g., legal aid organizations)
Qualifying Repayment Plans:
Borrowers must be enrolled in a qualifying repayment plan. Only income-driven repayment plans (IDR) and the 10-year Standard Repayment Plan count toward PSLF. Plans like Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Income-Contingent Repayment (ICR) are eligible for PSLF.120 Qualifying Payments:
Borrowers must make 120 monthly payments while working for a qualifying employer. These payments do not have to be consecutive, but they must be made under a qualifying repayment plan. Payments made under the Standard Repayment Plan or a qualifying income-driven plan count, but payments made under other plans, like the Graduated Repayment Plan, do not.
Benefits of Public Service Loan Forgiveness
Forgiveness of Remaining Loan Balance:
The most significant benefit of PSLF is the forgiveness of the remaining loan balance after 120 qualifying payments. Once the borrower completes the necessary payments, any remaining debt on federal student loans is forgiven. This can be a substantial amount, especially for borrowers with large loan balances.No Tax Liability on Forgiveness:
Unlike some other types of loan forgiveness programs, PSLF is not considered taxable income. Borrowers who have their loans forgiven through PSLF do not have to pay taxes on the forgiven amount, which is a key benefit of the program.Access to Income-Driven Repayment Plans:
By enrolling in an income-driven repayment plan, borrowers can make affordable payments that are based on their income and family size. This helps lower the financial burden while still making progress toward loan forgiveness.Flexibility in Employment:
As long as borrowers are employed by a qualifying employer for the duration of the 10 years, they can move between different eligible public service jobs. The key is to maintain qualifying employment while making the required payments.Early Repayment Completion:
Some borrowers may make more than 120 payments before qualifying for forgiveness, in which case they will still receive the full amount of forgiveness after 120 qualifying payments. These additional payments may count toward other federal loan programs if applicable.
Drawbacks and Challenges of PSLF
Strict Requirements:
PSLF has strict requirements that can make the process difficult for some borrowers. These include the need for qualifying employment, a qualifying repayment plan, and meeting the 120-payment requirement. Missing even one payment or working for a non-qualifying employer could disqualify a borrower from the program.Slow Processing Times:
The PSLF process can be slow. Borrowers may need to submit extensive documentation to prove their qualifying payments and employment, and the Department of Education has been known to experience delays in processing applications for forgiveness. Some borrowers may also face challenges with loan servicers who may not always provide accurate information or track payments correctly.Loan Consolidation Issues:
While loan consolidation can help borrowers qualify for PSLF, consolidating loans may reset the borrower’s payment count to zero, meaning any payments made prior to consolidation may not count. It’s important for borrowers to be strategic about consolidation and make sure it won’t negatively impact their progress toward PSLF.Changes in Eligibility:
PSLF eligibility may change over time due to changes in federal policies. Borrowers should stay up-to-date on any changes to the program, as adjustments in federal laws or regulations could affect their qualification for forgiveness.
Who Should Consider Public Service Loan Forgiveness?
Public Service Loan Forgiveness is ideal for borrowers who:
- Work in Public Service: Those who work for government or nonprofit organizations in qualifying fields like education, healthcare, law enforcement, social work, or legal aid.
- Have Large Loan Balances: Borrowers who have significant federal student loan debt and are looking for relief through forgiveness.
- Need Affordable Payments: Borrowers who are seeking lower monthly payments and the flexibility to make payments based on their income.
- Are Committed to Public Service Careers: Those who plan to remain in public service jobs for an extended period, as the 120 qualifying payments can take up to 10 years to complete.
Total and Permanent Disability (TPD) Discharge
Total and Permanent Disability (TPD) Discharge is a program that allows federal student loan borrowers to have their loans forgiven if they are unable to work due to a total and permanent disability. This discharge applies to Direct Loans, Federal Family Education Loan (FFEL) Program loans, and Federal Perkins Loans. It provides financial relief for borrowers who have severe disabilities that prevent them from maintaining gainful employment, offering them a fresh start by discharging their student loans. The program is meant to ease the burden of student loan debt for individuals who are physically or mentally unable to work and support themselves due to their disability.
How Total and Permanent Disability Discharge Works
TPD Discharge is available to borrowers who meet the criteria of being totally and permanently disabled. Borrowers who qualify for TPD Discharge will have their federal student loans forgiven, which can provide significant relief for individuals struggling with debt while managing a disability.
To apply for TPD Discharge, borrowers must submit proof of their total and permanent disability to the U.S. Department of Education. This can be done through the following methods:
Disability Certification from a Physician:
A licensed physician can certify that the borrower is unable to work due to a total and permanent disability. The physician must confirm that the borrower is unable to engage in substantial gainful activity because of a medically determinable physical or mental impairment that is expected to last for a continuous period of at least 60 months or that can result in death.Veterans Affairs (VA) Disability Determination:
Borrowers who are veterans can provide documentation of a VA determination that they are totally and permanently disabled. The VA uses a similar standard for determining disability eligibility as the Department of Education, and if a borrower is deemed to have a disability rated 100% by the VA, they are automatically eligible for TPD Discharge.Social Security Administration (SSA) Disability Determination:
Borrowers who are receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits can apply for TPD Discharge if they are considered totally and permanently disabled by the Social Security Administration. If a borrower has been receiving these benefits for 24 consecutive months, they are eligible for the TPD Discharge.
Eligibility Requirements for TPD Discharge
To qualify for Total and Permanent Disability Discharge, borrowers must meet the following criteria:
Documented Disability:
The borrower must have a total and permanent disability, which is documented by either a physician’s statement, a VA disability rating of 100%, or an SSA determination of total and permanent disability.No Income or Employment Requirement:
The borrower’s eligibility for TPD Discharge is not based on their income or employment status, other than the fact that they cannot work due to their disability. The program is intended for those who are permanently unable to engage in gainful employment.Eligible Loans:
The borrower must have federal student loans that are eligible for discharge. This includes Direct Loans, FFEL loans, and Perkins Loans. Private student loans, as well as certain other types of non-federal loans, are not eligible for TPD Discharge.
The TPD Discharge Process
Application Submission:
Borrowers who believe they are eligible for TPD Discharge must complete an application with the Department of Education. The application can be submitted online, and the borrower must provide supporting documentation of their disability, such as a physician’s statement, SSA disability determination, or VA rating.Review and Determination:
Once the application is submitted, the Department of Education will review the documentation provided. If all eligibility requirements are met, the borrower will be approved for TPD Discharge, and their loan will be forgiven.Post-Discharge Monitoring:
After receiving TPD Discharge, borrowers must be aware of a three-year post-discharge monitoring period. During this period, the Department of Education will monitor the borrower’s disability status. If the borrower regains the ability to work during this time, the discharge may be revoked, and the borrower will be required to repay the loan.- Rehabilitation or Recovery:
If the borrower’s disability improves or is determined to be no longer total or permanent, they may have to begin repaying the loan. This can happen if the borrower’s disability status changes during the three-year monitoring period.
- Rehabilitation or Recovery:
Tax Considerations:
Unlike some loan forgiveness programs, the TPD Discharge is not considered taxable income. The forgiven loan amount will not be subject to income tax, making it more beneficial than other forms of loan discharge where the forgiven balance could count as taxable income.
Benefits of TPD Discharge
Complete Loan Forgiveness:
The most significant benefit of TPD Discharge is the complete forgiveness of eligible student loans. Borrowers who are unable to work due to a disability can have the burden of their student loans erased, offering them financial relief during a difficult time.No Income Tax on Forgiven Loans:
As mentioned, loans discharged through the TPD program are not considered taxable income. This is a significant benefit, as it means borrowers will not face a tax bill for the forgiven amount.Peace of Mind:
For individuals living with a disability, knowing that their student loans are forgiven can provide peace of mind and reduce stress. With the forgiveness of loans, individuals can focus on managing their health and living their life without the looming pressure of student debt.Relief for Disabled Veterans:
Disabled veterans who are rated as 100% disabled by the VA automatically qualify for TPD Discharge. This provision ensures that veterans who are unable to work due to their disability receive relief from their student loans.
Challenges and Considerations
Documenting the Disability:
While TPD Discharge is intended to help those with permanent disabilities, obtaining the required documentation can be a barrier. Some borrowers may have difficulty obtaining the necessary paperwork from physicians, the VA, or the SSA, which can delay the discharge process.Post-Discharge Monitoring:
The three-year monitoring period can be a concern for some borrowers, as their discharge may be revoked if their disability status changes. Borrowers should be aware of this monitoring period and ensure they understand the terms of the discharge.Limited to Federal Loans:
TPD Discharge only applies to federal student loans. Borrowers with private loans or loans that are not eligible for discharge may still have to pay off their debts, even if they qualify for TPD Discharge.
Who Should Consider TPD Discharge?
Total and Permanent Disability Discharge is ideal for borrowers who:
- Have a Total and Permanent Disability: Those who have a disability that prevents them from working and that is documented by a physician, the VA, or the SSA.
- Cannot Work Due to Their Disability: Borrowers who cannot engage in substantial gainful activity due to a disability, which significantly impacts their financial situation.
- Have Federal Student Loans: Those who hold eligible federal loans, such as Direct Loans, FFEL loans, or Perkins Loans, and need relief from their student loan debt.
We’re here to help you find the ideal student loan plan for your needs.
With our expert advisors by your side, you can be confident that you will find the right student loan plan that meets your specific needs and goals.
The Benefits of Resolving Your Federal Student Loan
There’s no magic wand to get rid of student loans quickly. Instead, you’ll need to think carefully through your options to find the best repayment strategy.
Creating a solid plan for repaying your student loans can save you time, money, and stress in the long run. Learn how to create a personalized plan that fits your budget and goals.
We don’t have the answers to wipe away your debt in one fell swoop. Nor do we claim to provide immediate loan forgiveness. The more involved and educated you are in your own repayment decisions, the more focused you’ll be on eliminating your student loan debt the right way.
If you’re struggling to make payments on your federal student loans, resolving them can help you avoid default, which can have serious consequences like wage garnishment and damage to your credit score.
Resolving your federal student loan can have a positive impact on your credit score, which can open up new financial opportunities in the future.
