Loan Forgivness: Additional information
We wish to be transparent. There ABSOLUTELY is such
a thing as student loan forgiveness. However, it doesn’t work like many people hope.
The only way for immediate forgiveness is to be 100% permanently disabled. This must be certified by doctors and submitted to the government for review. We do not assist in this process
Our firms algorithms and results are based in Federal law and there is a path to accomplish forgiveness as outlined by law. There are three things to be accomplished.
1. You must have a qualified loan.
2. You must be enrolled in a qualified repayment plan (even if your payment is $0/month) and
3. You must participate in a plan for the entire term of the appropriate program.
Depending on you employer and the amount of your loans, forgiveness may be allowable in as short of a time as 60 months, and as long as 240 months. There may or may not be tax implications to forgiveness, this is something for your tax adviser to assist you in determining.