Welcome to Process my Loans FAQs – your source to the most common questions regarding loans, managing debt and forgiveness programs. We want to get you the answers to as many loan forgiveness questions as possible.
We are continuously updating this information based on customer questions and breaking student loan news.
The 2012 Student Loan Forgiveness Act provides relief from student loan debt of both private and federal loans. 10-10 programs are included in HR 4170. These particular programs allow borrowers to pay 10 percent of their discretionary income over a 10-year period to pay off the remaining balance.
- Total and Permanent Disability
- Perkins Loan Cancellation and Discharge
- Discharge in Bankruptcy
- Teacher Loan Forgiveness
- Death Discharge
- Unpaid Refund Discharge
- Closed School Discharge
- False Certification of Student Eligibility or Unauthorized Payment Discharge
- Public Service Loan Forgiveness
You may be eligible for forgiveness if you dropped out, graduated or the school closes. Your circumstances aren't taken into consideration in terms of whether or not you have to pay back your loan. This means it doesn't matter if you didn't complete your education, you can't find work in your field or anything else. However, this program may forgive your loans based on certain criteria.
It doesn't matter if you graduated or not. It doesn't play a role in whether you qualify for forgiveness.
Yes, you might be eligible for loan forgiveness even if you dropped out
Contact us today by clicking here and filling out the form. We can let you know what you qualify for.
You are still responsible for paying back private or federal loans a majority of the time – 99.9 percent of the time to be exact. However, you may be eligible for federal loan forgiveness. Apply today to see if you qualify for discharge or debt consolidation.
It doesn't matter how old your loans are, you're still required to pay them back.
PLUS loans are a form of federal loan. They're taken out by the parents of a dependent undergraduate in order to help with the cost of their education. You may qualify for loan forgiveness for these loans.
No. You do, however, have options to assist you.