Student Loan Relief Solutions
3-Step Guide To Eliminate
Your Student Loans
Hope Business Solutions Group specializes in helping Federal Student Loan Borrowers learn how to effectively payback their student loans. Our Student Loan Relief Services helps borrowers navigate the options made available to them by the US Department of Education when it comes to paying their Federal Student Loan Debt.
Our goal is to help you make a educated decision on the best ways to deal with and manage your student loan debt so that you can improve your overall financial situation or experience.
Step 1 – Consolidate Your Loans
The very first thing you should consider doing to eliminate your student loans is to consolidate them. You can consolidate your student loans as long as you are no longer enrolled in school and your loans are no longer in the grace period. Normally, you have a 6-month grace period before you’re required to start making payments towards your student loans after you graduate. To consolidate your loans, you must have at least two or more loans with an outstanding balance.
Step 2 – Enroll Into An Income Driven Repayment Program
Income Driven Repayment programs make dealing with your student loan debt a lot more manageable because it can reduce your monthly payments. Under an Income Driven Repayment program your monthly payment is not calculated based on how much you owe. It is calculated based on your family size and income. This means that your payment will ALWAYS be a payment you can afford and sometimes even be as low as $0 per month!
Step 3 – Enroll Into A Forgiveness Program
I know what you may be thinking…” Forgiveness programs aren’t real. They don’t exist.” But you’re wrong! Forgiveness programs are very real and there are many you could potentially choose from. Not only this, but more than 90% of student loan borrowers qualify for at least one of them.
Here are a few of the available forgiveness programs you could qualify for:
Income Driven Repayment Forgiveness Program: Anyone enrolled into an Income Driven Repayment program could qualify to have any unpaid balance of their loans forgiven after making 240-300 qualifying payments towards their loans.
Public Service Loan Forgiveness: Anyone who works full time for a nonprofit or a government/state organization could qualify to have their loans forgiven after making 120 qualifying payments towards their loans.
Teacher Loan Forgiveness: If you teach full time for five complete and consecutive school years in a low-income school, you may be eligible for forgiveness of up to $17500.00 of your student loan debt.
Total and Permanent Disability Discharge: If you are unable to work due to being 100% disabled and can obtain certification from the VA, a physician, or from the Social Security Administration, you could have your student loan debt completely discharged by the US Department of Education.
There are other forgiveness programs available, but these are the ones that most people can normally qualify for.