STUDENT LOAN FORGIVENESS
STUDENT LOAN DISCHARGE LAWYER NEW YORK
FORGIVENESS, CANCELLATION, AND DISCHARGE
Under certain circumstances, you may no longer be required to pay back
your federal student loan. The circumstances may include lifelong and
complete disability, specific types of teaching service, public service,
and more. If you need help determining whether you might meet the qualifications
for a student loan forgivness, cancellation, or discharge, contact our
lawyers today -
TEACHER LOAN FORGIVENESS
The Teacher Loan Forgiveness Program has been created to promote the teaching
profession by encouraging people to become and/or continue to be educators.
You may be eligible for this program if you have been a full-time teacher
for five successive years in particular institutions and agencies, and
if you meet additional requirements; if this is the case, the Teacher
Loan Forgiveness Program may eliminate up to $17,500 (an aggregate sum)
of your Direct Subsidized and Unsubsidized Loans and Unsubsidized Federal
Learn Your Rights! Call us about
Student Loan Forgiveness today!
OR CALL: (888) 301-0584
Learn more about
Total and Permanent Disability Discharge and
School Closure Loan Discharge
WHAT IS THE PUBLIC SERVICE LOAN FORGIVENESS PROGRAM?
Public Service Loan Forgiveness Program (PSLF) is meant for individuals that have full-time jobs in public
service. These individuals may qualify for this program, which eliminates
the residual balance of their federal student loans after 120 payments
have been made as designated by a particular repayment plan of their choice.
As a result, you may be eligible to apply for a Public Service Loan Forgiveness if:
- You have made 120 monthly payments as scheduled and in full
- The only payments that are considered had to have been made after October 1, 2007
- You must have chosen a particular repayment plan that arranges and mandates
your repayment schedule
- You must be a full-time employ for a certified public service organization
Loans given by the William D. Ford Federal Direct Loan Program are the
only loans that make you eligible for PSLF. If you received loans from
the Federal Family Education Loan Program (FFEL) and/or the Perkins Loan
Program, you may choose to combine your loans into a Direct Consolidation
Loan, which can then make you eligible for Public Service
Student Loan Forgiveness.
HOW CAN I KEEP TRACK OF MY ELIGIBILITY FOR PUBLICE SERVICE LOAN FORGIVENESS?
Step 1: You must fill out the Employment Certification for Public Service
Loan Forgiveness form every year, or if you switch jobs (with your employer’s
Step 2: Read the instructions on the form and then submit it to your federal
loan servicer for review.
Step 3: After reviewing your submitted form and your employment qualifications,
your federal loan servicer will determine whether your circumstances fit
the criteria required by the Public Service Loan Forgiveness Program.
Step 4: Your loan servicer will notify you if the form you have submitted
is incomplete and/or your employment credentials do not meet the required
criteria. After you have heard back, you will have the chance to make
certain changes and/or corrections to your documents.
Step 5: Additional documentation, for example an IRS Form W-2, may be requested
by your loan servicer if needed to prove that you held a qualifying public
HOW DO I APPLY FOR CANCELLATION FOR MY PERKINS LOAN?
In order for you to cancel your loan, you must do as follows:
- Contact the office of the school that controls your loan in order to obtain
the necessary forms.
- You must be prepared to provide any additional documentation that may be
required to prove your qualifications for cancellation.
- The school that controls your loan is fully delegated to decide whether
or not you qualify.
WHAT AMOUNT CAN BE CANCELED?
If you are eligible, you may cancel 15 to 30 percent of your loan in accordance
with specific year(s). The cancellation includes the accumulated interest.
If you are having difficulty managing your student loan debt, a proficient
repayment plan known as Income-Based Repayment (IBR) may help you significantly
reduce your monthly payments.
In order to be eligible for this repayment plan, you must have a partial
Our Student Loan Lawyers Can Help!
If you are reside in
New York and are seeking a
discharge of your federal student loan due to qualified public service, school closure,
disability, contact our student loan lawyers to learn how we can help you. We offer
a free phone evaluation.
Call today - (888) 301-0584.