If you have student loans you have probably heard of what most experts are calling the “Student Loan Bailout”. Much like the mortgage bailout several years ago, millions of graduates are having payments reduced and some even receiving refunds or forgiveness.
According to the Washington Post, the Obama administration had announced a plan to forgive an additional $7.7 billion in federal student loans. This comes months after Sallie Mae, also known as Navient agreed to pay a combined $139 million and the U.S. Department of Education announced more than $480 million in forgiveness for other borrowers.
Borrowers are rushing to enroll in these programs before they change or possibly repealed under the new administration. Due to high demand the certified enrollment center has established the Borrowers Relief Program helpline at (877) 206-8573 and provides a free eligibility check and assistance for qualified borrowers, Mon-Fri 7am – 6pm PST.
Why is Student Loan Forgiveness Happening?
The amount of money owed by individuals continues to grow due to high compounding interest rates. This is making it even harder for many to overcome student loan debt. As a result, many Americans are finding themselves under a huge burden and cannot pay for everyday essentials including rent, mortgages, car payments and even monthly food bills. The effects of overbearing student loans are also affecting the national economy and adding to the growing financial crisis in America.
The Department of Education hopes Student Loan Forgiveness options will put more money in our pockets and stimulate the economy. Like the policy or not it may help millions of Americans get back on track. The problem is that these programs could change at anytime under the new administration, therefore, borrowers are urged to take advantage while there is still time. Check your eligibility for loan forgiveness by contacting the free Borrowers Relief Program helpline at (877) 206-8573.
A Common Struggle
Jeremy, a Web Designer, explains his personal struggle with student loans. He received his associates degree for Web Design from Bryant and Stratton College in 2004. Borrowing $45,000 in federal and private loans, Jeremy says he hasn’t been able to get a job in Web design because, “Everything that I had learned from my degree became obsolete even before I graduated because the technology moves so fast.” Since graduation, Jeremy has fallen behind on his loan payments, and his debt has nearly doubled to $88,000. Despite working full-time day and part-time night jobs and scaling back his expenses to the bare minimum, Jeremy says he does not see a way out of default.
How do you Get Help if you Have Student Loans?
If you find yourself burdened by the repayment of student loans, you are not alone. You are just one of the 40 million Americans who owed financial institutions more than $1.4 trillion at the end of 2017.
Despite this, there are several new programs aimed at reducing payments, forgiving, discharging or even cancelling student loans owed by millions of struggling Americans. Though Not everyone qualifies for these programs, there are several options available for any type of situation. Navient Corp, has fallen under scrutiny by law makers for not making borrowers aware of their options, and often entering borrowers in to un-beneficial forbearance’s often accruing unnecessary interest on already high balances. To know whether you are eligible for student loan forgiveness, consolidation or lower monthly repayments, call the Borrowers Relief Program Helpline at (877) 206-8573.
What is Student Loan Forgiveness?
Loan forgiveness is the cancellation of all or some portion of your federal student loan balance. Yes, that’s right—cancellation of your loan balance. If your loan is forgiven, you are no longer required to repay that loan
Student Loan Borrowers may contact the Borrowers Relief Program Helpline to get information on individual borrower eligibility.
Check Your Eligibility
Monday – Friday | 7am to 6pm PST