Learn About Forgiveness.....On A Student Loan

Like most people, when starting college you really have no idea which loans are the better ones to apply for. Unlike grants you do have to pay those loans back, and after you graduate from college.......at least six (6) months later you will need to start your repayments on those said loans. Rather you get a job right away in your field of study or you get take a little bit longer to find a job in your field of study, payment is still going to be due. There is however help for those graduates who have loans and can't pay them back when scheduled, and other things to do to get student loans to disappear. Now some people may thinking, "what if I never find a job in my field of study"? Well here might be a little something to help you with your repayment process. There is something called a DEFERRED LOAN: What a deferred loan can do is provide a student or graduated borrower with a little breathing room before payments begin. There is also LOAN FORBEARANCE: allows you to temporarily postpone making your federal student loan payments or to temporarily reduce the amount you pay. Another one I would like to tell you about is ECONOMIC HARDSHIP: The economic hardship deferment is granted one year at a time for a maximum of three years. The first three qualification categories are “automatic” as long as you can provide supporting documentation. Last but not least we have  LOAN FORGIVNESS: The cancellation of all or some portion of your remaining federal student loan balance. If your loan is forgiven, you are no longer responsible for repaying that remaining portion of the loan. With anyone of these programs available to all graduates, repayment of your student loans should be a little less of a hassle and give you some light at the end of that loan tunnel. Please take time out and do a little more research of your own to get the full understanding of student loans and options for repayment. Always ask about interest rates that is also important. To learn more about the different types other ways and terms of repaying loans you can check out a couple of websites such as a couple of these : https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
and you can check this one out too: http://www.studentdebtrelief.us/forgiveness/obama-student-loan-forgiveness/
Know there is help, so on ahead graduate go and get it!

Daisy Lane
Blogger