Consolidating student loans with low interest rate
But this statistic is misleading, because a lot of borrowers think this means qualifying for some type of student loan forgiveness program. Actually, most borrowers qualify for student loan forgiveness through one of these “secret” ways.
The secret is simple: sign up for a qualifying student loan repayment plan, and your loan will be forgiven at the end of the plan. What's even better is that your income could be low enough to qualify for zero or minimal repayment, at which your loan will be forgiven at the end.
If you’re not sure about doing it yourself, then Ameritech can help you find the repayment solution that’s right for you, and potentially restructure your loans so that you can qualify for programs you may not otherwise have qualified for.
You can call them at 1-866-863-3870 or check out their website here.
You can sign up for these programs for free at Student
On this plan, you will make payments for 25 years, and at that point, your loans will be forgiven.
If you are a borrower with loans July 1, 2014, your loan will not exceed 10% of your discretionary income, and the loan will be forgiven after just 20 years.
Here are the student loan repayment plans that qualify for student loan forgiveness: The Income Based Repayment Plan (IBR) is one of the most common repayment plans borrowers switch to if they are having financial hardship.
If you have loans from July 1, 2014, you payment will not be higher than 15% of your discretionary income.