Consolidating student loans and forbearance updating album info

Posted by / 19-Nov-2017 07:52

Consolidating student loans and forbearance

As marriage is the combination of two people’s lives into one, this may seem like an inevitable step, but there are some drawbacks that you may want to consider when deciding to consolidate your student loans with your spouse’s.

What is Consolidation and How Does It Affect Our Payment Plan?

Private student loans are not eligible for student debt forgiveness. Unfortunately, many companies that offer student loan debt relief are trying to make money off people who need help with their student loans.

You should never pay for help with a loan consolidation or student debt forgiveness.

Download the General Forbearance Application (PDF)Mandatory Forbearance If you are enrolled in a medical or dental internship/residency or a member of the National Guard on active duty, or are patriating in the Department of Defense Repayment then you can apply for Mandatory Forbearance.

Download the Mandatory Forbearance Application (PDF) Loan Debt Burden Forbearance If you have excessive student loan debt burden where your Federal Student loan payments are 20% or more than your monthly gross income.

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Download the Teacher Loan Forgiveness Forbearance Application (PDF) Learn more about other options for teachers Please contact us immediately if you are having trouble making your student loan payment.

Unfortunately, many companies that offer student loan debt relief are trying to make money off people who need help with their student loans.

You should never pay for help with a loan forbearance.

If you meet specific qualifications, certain federal student loans can be forgiven, cancelled or discharged.

This means that your debt will be erased and you no longer have to make any payments.

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Try to Pay your Interest while in Forbearance Your loan will continue to accrue interest when in forbearance.