Loan Forgiveness

 William D. Ford Direct Loan Program (often called Obama Student Loan Forgiveness by the media)

All our clients will be consolidated into the William D. Ford Federal Direct Program also known popularly and in the media as the Obama Student Loan Forgiveness program, where every consolidated loan has forgiveness attached at the end of the term (this is mostly likely 20 to 25 years depending on which program you are eligible for).  At the end of your consolidated loans term, any unpaid balance will be forgiven by the Department of Education. There are a variety of repayment options in the direct loan program, and provisions which allow for early forgiveness or principal reduction on your consolidated loan.

Teacher Loan Forgiveness

The Teacher Loan Forgiveness program is probably the most beneficial of all the loan forgiveness plans available as teachers not only qualify for early forgiveness, but principal reduction as well. Teachers can be eligible for $5,000 to $17,500 in principal reduction on their loans under certain circumstances in the Teacher Loan Forgiveness program.  The idea behind this principal reduction was to encourage young graduates to enter into a career of teaching, and also to continue that career.  Teachers also qualify for complete loan forgiveness after 10 years of repaying their loans.  For more information go to our Teacher Loan Forgiveness page.

Public Service Loan Forgiveness

You may qualify for public service loan forgiveness if you work full-time in a public service job.  After making 120 payments under certain repayment plans while working full-time in a public service position, the balance of your Federal Student Loan would be completely forgiven. For more information go to our Public Service Loan Forgiveness page.

Permanent Disability Forgiveness

A borrower may qualify for Total and Permanent Disability Discharge on their Federal Student Loans if they are unable to engage in any substantial gainful activity because of a physical or mental impairment. For more information go to our Total and Permanent Disability Discharge page.