Obama plan consolidating student loans

Your first call to the Helpline is free, and you’ll only ever be charged anything if you agree to let them help with the research, paperwork and applications process, so all you’ve got to lose is a few minutes of your time.

To reach the Student Loan Relief Helpline, call: 1-888-906-3065.

Keep in mind that while it’s way easier to get rid of Federal loans (because there are so many more programs for them), it’s no longer impossible to qualify for excellent Private Student Loan Forgiveness benefits too, because there are definitely some great options out there now!

Please read through the Forgiveness and Discharge Programs listed below, see what you think you may qualify for, then click the links to go to other pages of my site where I explain each program in extreme detail.

Abbreviated “PAYE”, this is one of the most powerful Federal forgiveness programs on the market, and one that you should definitely look into if your loans were taken out after 2007, because it is the most widely available forgiveness benefit, and one of the easiest to qualify for.

For details on how PAYE forgiveness works, please visit my page about the Pay As You Earn Student Loan Repayment Plan.

This program is available to EVERYONE with Federal student loans, so it’s one of the first places you should look for assistance if you’re trying to get rid of Federal debt.

For all the details about how it works, please visit my page on President Obama’s Student Loan Forgiveness Program.

One big decision you’ll need to make is whether you want to tackle your loans entirely on your own, or with the assistance of a Student Loan Relief Company.

All of the programs above are excellent opportunities for getting rid of your loans, but remember that most of them are going to require many years of payments before you can get rid of your debt (except some of the Healthcare and Nursing programs, which are super accelerated).

Next, let’s discuss the more modern Federal Student Loan Discharge programs, which let you get rid of your loans more quickly than the older Forgiveness Programs, but which are much harder to qualify for since they’re only available to small portions of the population.

Part of the Obama Loan Forgiveness Program, Pay As You Earn is one of the best income-based Federal Student Loan Repayment Plans available this year, and it’s only downside is that it’s only available to people who took out loans on or after October 1st, 2007.

It works the same way as Obama Loan Forgiveness, in that it sets your monthly student loan payments to an amount based on your annual income (the more you make, the more you have to pay), but it offers complete Federal student loan forgiveness benefits after you’ve made a certain number of payments: 240 payments, or 20 years worth of payments.

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Remember, in years past, Private loans have been nearly impossible to get rid of via Forgiveness or Discharge programs, but that has all changed in recent years with the expansion of new opportunities for wiping out your Private loans.

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