It depends!  There many repayment options available for federal student loans.  If you are pursuing loan forgiveness, you should pick an Income-Driven Repayment (IDR) plan with the lowest monthly payment for which you are eligible for. 

Which Federal Repayment Plan is Best for Me?

If you already have private student loans, you can always shop around for lower interest rates!  However, if you have federal student loans, you need to to consider the pros and cons of refinancing to a private loan with a lower interest rate and the benefits and protections available only for federal loans.

Should I Refinance My Student Loans?

There are different types of loan forgiveness/discharge/cancellation programs for federal loans.  Each program has its own rules for eligibility, such as working for the right type of employer for a specified length of time, the type of loans you have, and being on the right repayment plan. Examples include Public Service Loan Forgiveness, Perkins Loan Cancellation, Teacher Loan Forgiveness, Total and Permanent Disability Discharge, etc. Unfortunately, similar forgiveness programs may not be available for private loans.  But it's worth contacting your lender to work out repayment options if you are having trouble making your private loan payments.

Do I Qualify for Loan Forgiveness?

Student loans can be very complicated because they are quite different from other types of consumer loans.  Every situation is different and it may take a lot of time and energy to learn about the complexities of student loans.  Book a 15 minute assessment call to find out if we can help you figure out a clear path forward given your unique situation!

Should I Consult a Certified Student Loan Professional?


This Section Coming Soon!