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The first step is seeing if you qualify for a consolidation that may have student loan forgiveness features (please bear in mind that for some programs, forgiveness doesn’t occur until the end of term which can be up to 25 years).
Once qualified in a five-minute phone call, Student Debt Relief will assist you in choosing the repayment plan that benefits you the most.
By consolidating, the borrower would have only one student loan, with one monthly payment, interest rate, and term.
See How Low Your Payment Could Be Understanding Federal Student Loan Consolidation vs Private Student Loan Refinancing Both types of consolidations can lower your payments and reduce the headache of having to keep track of multiple student loans (which can lessen the risk of accidental default), but the similarities usually stop there…
We’ve got you covered with our Student Loan Smarts blog series.
Similarly, the Teacher Loan Forgiveness Program is available for teachers who work in schools that serve low-income families full-time for five consecutive years.
For those with both private AND federal student loans, it’s often very beneficial to do both a private student loan consolidation for their private loans and a federal student loan consolidation for their federal loans. See How Low Your Payment Could Be Now let’s look at the benefits and eligibility requirements for each program.
Student Loan Debt has now surpassed credit card debt in America.
You may choose Fed Loan Servicing (PHEAA), Great Lakes Educational Loan Services, Inc., Nelnet, or Sallie Mae. If you planning to benefit from Public Service Loan Forgiveness, bear in mind that when you file an Employment Certification Form, your loans will be transferred to Fed Loan Servicing, the "official" Public Service Loan Forgiveness servicer. There are lots of choices and it makes sense to evaluate each plan before you select the best plan for your circumstances.
I'd probably go ahead and choose them to begin with. Information to help you understand your repayment plan options is at Check that your application is correct and complete, make any edits you might need, then electronically sign and submit your Federal Direct Consolidation Loan Application and Promissory Note.
Begin by logging in to your account at using your four-digit federal Personal Identification Number (PIN). The application will be populated with information from your loan record.