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Earlier in his presidency, President Obama announced a student loan forgiveness plan one that has become known as the Obama student loan forgiveness program- for students who were unable to complete their student loan payments or had already completed a significant part of their payments for a long period of time. The Obama student loan forgiveness program automatically clears the remaining debt of anyone who has made regular payments on their federal student loans for a minimum of twenty years. People in military service or who are working in other government departments might have their debts cleared even earlier than that as per Obama Student Loan Forgiveness. We are eager to see if you qualify, call a professional today at 877-698-2733 for your free consultation.
The major benefit of student loan forgiveness plans is that students will no longer have to bear the burden of their debt–at least entirely. There are various student loan forgiveness plans, and each aims to help you pay less. They may reduce the amount you owe or cap payments and interest rates to a minimum, lowering your monthly payment and increasing affordability.
The Student Loan Forgiveness plan currently only applies to federal loans such as Perkins or Stafford loans. People who have taken out private loans can also make use of student loan forgiveness programs offered by a number of private employers, but these loans are not covered under President Obama federal program. Some private employers have programs where they will agree to pay back your remaining debt (or your debt in full) if you agree to work for them for a certain period of time. While this mostly applies to people in specialized jobs such as the healthcare sector, a number of private companies have their own policies regarding student loan forgiveness programs. For more info regarding Loan Forgiveness or TPD Apply above or call 877-698-2733