New Federal Student Loan Forgiveness Programs

Student Debt Advocates Advises Borrowers on New Federal Student Loan Repayment and Forgiveness Programs

New regulations brought forth by the Obama administration make it much simpler for borrowers that are permanently disabled to qualify for student loan discharge. Student Debt Advocates has advised over 15,000 borrowers on repayment and forgiveness options.

Brooklyn, NY – April 18 – President Obama and his administration plan to forgive $7.7 billion in federal student loans held by Americans that are currently disabled. The student loan debt burden has been a huge problem for individuals that are permanently disabled. Even with programs existing that allow for these debts to be forgiven, hundreds of thousands of borrowers simply don’t know that this program exists nor how to apply.

With this new update, The U.S. Department of Education and President Obama took steps to help these individuals. Working hand in hand with the Social Security Administration, the department has been seeking out borrowers that are receiving disability payments and have the status of ‘Medical Improvement Not Expected’. There have been a total of 387,000 matches out of which 179,000 are currently in default and at risk of having their social security benefits as well as tax returns garnished.

Student Loan Forgiveness
Effective this week, borrowers who are in this group will receive a letter from the government outlining the steps needed to receive a discharge and total forgiveness of their federal student loan debt. The process for discharge is much simpler than it used to be in the past with no proof of disability needed. Borrowers who receive this letter will simply need to sign it and send it back.

While this new change is a great step toward helping Americans tackle their student loan debt, the $7.7 billion is only half of one percent (.5%) of the total $1.344 trillion in federal student loan debt. Aside from this program there are other options available for borrowers that do not fit this criteria. Income driven repayment and forgiveness plans have been gaining popularity and helping millions of borrowers drop their monthly payment to as little as $0/month.

Student Debt Advocates has been advising borrowers on such repayment and forgiveness plans for multiple years. With over 15,000 people that have been advised, there has been real steps toward made toward making a dent in the student loan debt load burden that borrowers have struggled with. Individuals that are interested in obtaining further information can reach out to Student Debt Advocates by calling (800) 272-5308 or visiting http://www.studentdebtadvocates.com

Contact Information
Student Debt Advocates
http://www.studentdebtadvocates.com
+1 8002725308

4 thoughts on “New Federal Student Loan Forgiveness Programs”

  1. Be grateful that you had the power and courage to pick self-acceptance alternatively of a destructive self-evaluation. If the expertise has altered you and made you a far better and wiser individual with more compassion for others there will be innumerable possibilities for the new you to contribute your gifts to the globe.

  2. This is the Corinthian college case.
    They have forgiven many student loans
    Because they were Uncredited College and you could not use your credits in any other college.

    The three colleges involved We’re Cotinthian college Mission college and Heald college.

    Please let me know if you feel I have a case I have not paid on the student loan in two years. Thank you

    1. You will need to contact a student loan law firm to see if you have a case. I am not a lawyer and cannot advise you about that.

      I do have a couple of comments:

      1) If you took classes at a college then you should have received something of value for the money you paid, which is education. Even if the credits are not accepted at another college, they may be accepted when you apply for a job. If that’s true, then it seems fair that you pay the school something for what you received, just not the full cost.

      2) Before contacting a law firm, I would contact the school and see if you can make a deal with them directly. That way you will avoid paying the legal fees. If the school informed you at any time that they were not accredited, then you may be in a bad position and should just make the best deal you can with the school and move on.

      Good Luck!

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