If you took out loans to pay for your education, you might now be facing financial struggles with your student loan debt. If you qualify for student loan forgiveness, that’s great, but if you don’t, understanding your repayment options can be challenging.
A Fort Lauderdale student loan debt lawyer with Loan Lawyers can review your case and work to help you escape the burden of federal and private student loans if you are struggling to make your monthly payments. We can explain your rights and help you pursue a manageable loan repayment plan so you can move forward.
How Do You Qualify for Student Loan Forgiveness?
According to the U.S. Department of Education, if you have federal student loans, you may qualify for student loan debt forgiveness if you:
- Are a teacher – Teachers and those working in childcare or early childhood education for a public or nonprofit institution may be eligible for Teacher Loan Forgiveness or Public Service Loan Forgiveness (PSLF).
- Are a government employee – PSLF may be available to those who work in federal, state, or tribal governments, including military service members and AmeriCorps members.
- Work for a nonprofit – You can seek loan forgiveness if you work for a qualifying not-for-profit organization.
- Are a medical professional – Doctors, nurses, and other medical professionals can seek PSLF if they work for a nonprofit hospital or medical facility.
- Have a disability – You can pursue student loan forgiveness if you have a total and permanent disability.
- Are eligible for income-driven repayment (IDR) loan forgiveness – If you have been in repayment for 20 or 25 years, you may qualify for forgiveness on the remainder of your IDR loan.
You may also qualify to have student loans forgiven, discharged, or canceled if:
- Your school closed
- Your school misled you
- You are a federal Perkins Loan borrower
- You are a parent borrower
- You are a victim of forgery
- You declared bankruptcy
- The borrower died
Can Loan Forgiveness Be Partial or Total?
Federal student loan forgiveness can be partial or total, depending on the type of loan forgiveness you qualify for. For example, teachers may have up to $17,500 of loans forgiven through Teacher Loan Forgiveness. Meanwhile, a government employee can pursue forgiveness for the remaining balance of their loan through PSLF after making the equivalent of 120 months of payments.
If you have a private student loan, the forgiveness you receive will depend on the repayment agreement you reach with your lender.
How Can Our Debt Relief Attorneys Help?
Our debt relief lawyers have helped thousands of clients get out of debt. When you meet with an experienced student loan lawyer at our firm, we can do the following to assist you with seeking student loan forgiveness:
- Explore and explain your debt relief options
- Help you take advantage of loan repayment assistance programs before they expire
- Prove your eligibility and help you file for debt forgiveness
- Negotiate for the maximum debt discharge possible
- Help you develop and negotiate a sustainable income-based repayment plan
- Fight back against predatory private lenders
Contact our Fort Lauderdale Student Loan Forgiveness Lawyers for Help
Student loan debt can seem overwhelming and scary, but relief is out there, and Loan Lawyers can help. Our Fort Lauderdale student debt lawyers can explain your rights and help you find the best financial solution. Contact us today for a free consultation.
