Speak With a Fort Lauderdale Student Loan Attorney Now!
When student loan debt becomes overwhelming and you struggle to make your monthly payments, you may be eligible for a forgiveness program! Loan forgiveness is a unique and ideal tool for borrowers that allows you to discharge a debt without penalty or consequence. Depending on your circumstances, you may qualify to have all or part of your outstanding federal student loans forgiven, but you should act quickly and speak with an attorney to find out if you qualify—just because you qualify now does not mean you will maintain your eligibility later.
Loan Lawyers can work with you to consider all available options when it comes to your student loan debt, and we can help you pursue a strategy that will help you regain your financial independence as soon as possible. With over 100 years of experience, our team has developed a tried and trusted method for helping our clients with their consumer law issues, and we may be able to help you as well. We have helped more than 5,000 clients with their legal issues, including numerous student loan debt cases, and we utilize this experience to effectively help you pursue your best interests.
Learn more about student loan forgiveness programs and find out if you qualify! Call Loan Lawyers today by dialing (844) 344-4813 to request a free case evaluation.
Do You Qualify for Loan Forgiveness?
Loan forgiveness is fairly rare, and most borrowers will not qualify for a forgiveness program. However, just because you don’t qualify for a program now does not mean you won’t qualify in the future. Various loan forgiveness programs have been proposed, and it’s likely that additional ones will be implemented or changed over time. Currently, the two largest loan forgiveness programs are for teachers and public service workers.
Teacher Loan Forgiveness
Educators could possibly have all or part of their loans forgiven if they are deemed to be a “highly qualified” person in their field, and teach in one of the following positions:
- Special education for children with disabilities (either elementary and high school levels)
- Secondary school mathematics
- Secondary school science
Public Service Loan Forgiveness
Public service employees could be eligible to have their loans forgiven if they have diligently made their payments for 10 full years after October 1, 2007. Only certain Direct Loans are eligible for forgiveness in this manner. Don’t hesitate to speak to an attorney for more information.
Obama Student Loan Forgiveness
Former President Barack Obama instituted a few programs to help those struggling under the burden of their student loan payments have a portion of their loans forgiven. For example, if you are enrolled in an income-contingent or pay as you earn loan payment program and you have an outstanding balance still at the end of your loan term, you could possibly have all or part of your outstanding balance forgiven when the term of your loan expires.
However, these programs are very much contingent on your circumstances and you may or may not qualify based on several factors, including how much you initially borrowed, your income levels over the life of the loan, and more. You should speak with an attorney to learn whether or not you qualify to have some of your loan forgiven and get their assistance with applying for this forgiveness if you do.