Before refinancing student loans, compare interest rates and fees from multiple lenders. It’s also wise to consider the impact on loan terms, such as the repayment period and monthly payments.
Student Loan Forgiveness and Repayment Assistance Programs
In certain situations, borrowers may be eligible for student loan forgiveness or repayment assistance programs. These programs can provide partial or full forgiveness of student loan debt, depending on the specific criteria and requirements.
Types of Student Loan Forgiveness Programs
Public Service Loan Forgiveness (PSLF) is available to individuals working in public service, such as government employees, teachers, and non-profit organizations. Under PSLF, borrowers can receive forgiveness of their remaining federal student loan debt after making 120 eligible payments.
