The quest to learn more about student loans shouldn't end here. Follow the Student Loan Ranger blog, which offers guidance on the options that may forgive, discharge or pay for all or a portion of a borrower's student loans. You can also follow U.S. News Education on Facebook and Twit...
If you’re struggling to pay back your federal student loans, you may want to check your eligibility for any of the federal government’s forgiveness programs.
Federal students loans are discharged if you die or become permanently disabled. Any parent PLUS loans taken out on your behalf will also be canceled if the parent who holds them dies. Death discharge isn’t a guarantee for private loans, though some lenders offer it. Before taking out a lo...
Federal student loans generally have more favorable terms. They offer forgiveness, cancellation and discharge alternatives in addition to the recentplan announced by the Biden administration. Private loans can fill a gap when public loans, scholarships, fellowships, subsidies and grants aren't enough t...
For instance, one robocall began: "This is United Services Student Loan Department with an urgent call to our clients regarding the new federal program, which now qualifies for complete dismissal and full discharge of all your federal student loans, as well as a refund of monies paid and remo...
In 1976, Congress prohibited writing off education loans through bankruptcy for five years after graduation, and a 2005 provision made it nearly impossible to use bankruptcy to discharge any college loans, including ones not guaranteed by the federal government. Even so, rising student debt and ...
“TheDepartment of Education’s decisionto discharge the loans of these students was righteous and just, and will enable these student borrowers to begin anew without having to shoulder unfair debt put on them by predators,” Platkin said. ...
Loan discharge also occurs in the event of the student’s death, or the parent’s death if they took a parent PLUS loan. Generally less expensive: For most students, federal student loans are likely cheaper than private student loans. This is especially true for undergraduate students who don...
Discharge options vary by refinance lender. In some instances, it may make sense to refinance only some of your federal loans. For example, you could refinance your higher-interest PLUS loans from graduate school, but not your undergraduate direct loans. This would keep part of your federal ...
What is a federal student loan? Federal student loans are loans issued by the U.S. Department of Education. "They are far easier to qualify for than private student loans, they have flexible repayment options including income-driven repayment plans, offer forgiveness and loan discharge options, ...