News & Announcements
If you are working full-time in a public service job, you should determine whether you qualify for the Public Service Loan Forgiveness (PSLF) program. Under this program, qualifying borrowers may have the remaining balance of their student loan forgiven.
If you are interested in settling your defaulted federal student loan, it is important to understand that a settlement results in a lump sum payment to satisfy the total amount you owe in full. Typically, the U.S. Department of Education will require you to pay the full settlement amount within 90 days from the date of the settlement offer. In certain cases, however, you may be able to pay the settlement amount in installments that result in the full settlement amount being paid within the same fiscal year.
If you are past due on your student loan payments, you are likely being harassed by a debt collector urging you to pay your debt. Anyone who is dealing with debt collection agents should know how to identify unscrupulous or unlawful behavior. The Fair Debt Collection Practices Act (FDCPA) was created to protect consumers by setting forth certain collection tactics that are unlawful. In general, the FDCPA prohibits collectors from using unfair, deceptive or abusive practices to collect money from borrowers.
As if owing an overwhelming amount of student loan debt isn’t bad enough, do you know that if you default on your loan the lender can add collection fees to the cost of the loan? In fact, it is common for any collection charges to be deducted from each payment you make before anything is applied to the interest or principal balance of the debt you owe. Sometimes the collection fees are added on top of the loan balance.
Student loans can be discharged if false certification can be proven. One type of false certification occurs when your student loan documentation has been forged by your school or was falsely certified due to you being the victim of identity theft. It is sometimes referred to as the “unauthorized signature” discharge.