Grads1st provides document preparation assistance services for the various programs available through the Department of Education. While defaulting on a student loan can be a frightening experience, Grads1st is here to help you get back on track by handling the preparation and submission of your documents and application to the DOE so you can pay off your student loans once and for all! Here's a look at a few of the options the Department of Education is currently offering that are available to you:
Choose a repayment plan tailored to your financial circumstances, such as your income and family size
Get a portion or your entire student loan balance forgiven from one of the many forgiveness programs available
Grads1st will help you prep and submit all the correct documentation and applications necessary to qualify you for one of the many forgiveness programs currently available through the DOE listed below:
The Public Service Loan Forgiveness Program (PSLF) is designed for borrowers who work full time in the public service sector. Under this program, borrowers will receive immediate forgiveness after 120 qualifying payments.
Under the Teacher Loan Forgiveness Program (TLF) you may qualify for forgiveness up to $17,500 if you teach full time for 5 complete and consecutive academic years at a title one school
Under the Total and Permanent Disability Discharge Program (TPDD), you may qualify for complete forgiveness of your student debt if your are totally and permanently disabled
Payments are capped at 10 percent of your discretionary income with a maximum term of 240 months. "Any Remaining Balance at the end of your term will be forgiven"
Payments are capped at 15 percent of your discretionary income with a maximum term of 300 months. "Any Remaining Balance at the end of your term will be forgiven"
Payments are capped at 20 percent of your discretionary income with a maximum term of 300 months. "Any Remaining Balance at the end of your term will be forgiven"
You'll pay a fixed monthly payment until your loans are paid in full within 10 years.
Payments start low and increase every 2 years. Intended for borrowers who expect their income to steadily grow over time.
Similar to the graduated repayment plan, however the term is extended to 300 months.