Student Loan Forgiveness

 

Student Loan Forgiveness:

What You Need To Know

 

  • Q. How Does Student Loan Forgiveness Work?
    A.

    Once the term of your program is successfully completed, the government will waive the remaining balance of your Federal student loans. This will include your remaining principle and accrued interest. In some cases, your forgiveness is not taxable.

  • Q. Is There A Cost To Enroll?
    A.

    There is no cost to receive your instant, on-screen results to see whether you qualify, or to get answers to your questions. Enrollment into the program is a one-time fee of $199 and our monthly service fee is included in your estimated payment.

  • Q. Will Student Loan Forgiveness Hurt My Credit?
    A.

     

     

    In most cases, Student Loan Forgiveness will improve your credit score. If you are currently not making payments, you will begin making payments which will improve your credit score. The overall balance owed will not change, but your monthly payment obligation will be reduced, improving your DTI (Debt-to-Income) Ratio, which may increase your ability to qualify for a mortgage, vehicle, or credit cards.

  • Q. What Are The Benefits Of Enrolling With My Education Solutions Versus Continuing With My Current Service Provider?
    A.

    My Education Solutions Offers:
    – Personalized service from Student Loan Forgiveness Experts.
    – Speak with people who care & understand the burden of student loan debt.
    – Receive direct answers to your questions so you can make more informed decisions.
    – Guaranteed Results.
    – We will not enroll you in a program without full-disclosure of your payments.
    – Our team manages your program from start to finish, eliminating your need to deal with your service provider.
    – We have a proprietary calculator to instantly disclose (upfront) your forgiveness amount and your new low monthly payment.
    – We provide documentation to mortgage lenders to assist our clients who are looking to purchase a home.

  • Q. How Is My Education Solutions Different From Everyone else?
    A.

    My Education Solutions is not a loan servicer or refinance company–we are a consumer advocacy organization, focused on administering government forgiveness program. We are here to help you lower your monthly payments and receive the forgiveness you are legally entitled to.

  • Q. Can I Do This Myself?
    A.

    Yes, you can, but in our experience, our clients aren’t provided with the tools to succeed in obtaining student loan forgiveness by their loan servicers. My Education Solutions’ forgiveness experts fill in the gap so people who are legally entitled to this benefit are successful in obtaining it. Most importantly, we stay up-to-date on changes to government regulations, ensuring our clients are compliant.

  • Q. Will My Education Solutions Own My Federal Loans When I Enroll In The Student Loan Forgiveness Program?
    A.

    The Department of Education will always own your federal loans. We do not purchase the loan or refinance the loan, nor are we the agency that will grant your forgiveness. The Department of Education will be the agency that forgives the remaining balance of your student loan debt once the term of your forgiveness program is completed.

  • Q. How Do You Determine How Much Forgiveness I’m Entitled To?
    A.

    Our Student Loan proprietary calculator will find the lowest payment for you and disclose your forgiveness amount upfront, prior to your providing any contact or financial information.

  • Q. Why Would My Forgiveness Amount Be Higher Than What I Currently Owe?
    A.

    Forgiveness program estimates are based on the total loan balance plus the interest accrued until the loan is forgiven. Compounding interest on your loan continues while you are enrolled in the program. It is possible that at the end of your program term, both the principle and interest will be forgiven. Please contact an advisor should you have any questions. 800-618-1170 (Option 1).

  • Q. How Long Does The Process Take?
    A.

    After you submit your enrollment documents, My Education Solutions will verify your information. Your one-time enrollment fee & first student loan payment can occur at the new amount within 10 business days of the completion of the audit process.

  • Q. When Can I Stop Paying My Current Student Loan Servicer Directly?
    A.

    You may stop making payments directly to your current student loan servicer once your first monthly student loan payment has been received by My Education Solutions.

  • Q. Do you offer Teacher Title 1 Forgiveness programs?
    A.

    Yes, we can assist you with Teacher Title 1 Forgiveness. However, based on our experience, the Public Service Loan Service Forgiveness program is often more beneficial as it results in more forgiveness (on average 70% of your total student loan debt) compared to the limited amount (usually only $5,000) granted by the Teacher Title 1 Forgiveness Program.

  • Q. If I Am Currently In Default, Can I Still Enroll In Forgiveness?
    A.

    Yes, if your loans are in default or collections, you may still enroll into the Student Loan Forgiveness Program. If your employer or The Department of Education have contacted you about wage garnishment we may be able to still help you. Please contact us immediately.

  • Q. How Secure Is My Personal Data & Documents When I Upload Them?
    A.

    We have the safest portal in the world. You are entering your data and documents into a secured portal with DocuSign which meets and exceeds the most stringent U.S. and global security standards.

    DocuSign is the only DTM provider to be ISO 27001-certified and SSAE 16-certified (SOC 1 and SOC 2) and internationally tested across the entire company and its data centers. Only DocuSign provides full document encryption to ensure the privacy of your data. Learn more at DocuSign’s website.

    My Education Solutions never shares your information. Please click here to view to our privacy policy.

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