There are various student loan forgiveness programs out there for people who work in public service, education, and other fields. Some states are even helping debt-saddled graduates pay off their loans sooner. Whether you're struggling with six-figure debt or looking for "free money" to pay off your student debt, student loan forgiveness could save the day.!
In most situations, students have more than a one single loan. Prioritizing the loans based on their interest rates is a guaranteed way to pay down the loans more efficiently and expediently. Paying loans that carry higher interest rates lowers the principal amount owed, which in turn reduces the amount to which the high interest rate applies to.
In most situations, students have more than a one single loan. Prioritizing the loans based on their interest rates is a guaranteed way to pay down the loans more efficiently and expediently. Paying loans that carry higher interest rates lowers the principal amount owed, which in turn reduces the amount to which the high interest rate applies to.
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About Us
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The mission of MK Loan Consulting is to provide and dedicate effective and efficient ways in helping borrowers utilize all possible opportunities in Student Loan Forgiveness by using both proven and innovative methods. Our vision is to conquer the Student Loan Industry challenges by utilizing a team of specialists dedicated to continuous growth and absolute customer loyalty.
Student Loan Forgiveness
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The loan forgiveness program runs under the William D. Ford Direct Loan Consolidation Program enacted in 1992 by president George H. W. Bush, and then strengthened by president Barack Obama. Often this program is referred to as the Obama Student Loan Forgiveness Program. The program allows for consolidation of multiple federal loans into one loan under you name, with one lender, and one interest rate, with one monthly bill.
Teacher Loan Forgiveness
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Under the Teacher Loan Forgiveness Program, if the borrower is a full time teacher for five complete and consecutive academic years in a low-income school or educational service agency, and meets other qualifications, they may be eligible for a forgiveness of up to $17,500 on their Direct Subsidized and Unsubsidized Loans and their Subsidized and Unsubsidized Federal Stafford Loans.
Public Service Loan
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The Public Service Loan Forgiveness (PSLF) program helps people working in public service jobs as full time employees. This includes the obvious public service positions (e.g. government, military, etc.), but it also includes those that one may not think of, such as a call center representative, a groundskeeper, animal shelter caretaker, or a translator/interpreter for courts and hospitals.
Loan Consolidation
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Consolidation is doing exactly as it suggests; consolidating the outstanding loans into fewer or single large loans that are more manageable from a repayment perspective. It also allows for the interest rates to be averaged across the board instead of the fluctuating (variable) ones that you may currently be paying.
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