Student Loan Debt
For Debt Relief, call: (636) 223-5900
What Are The Options For Student Loan Debt?
There are typically two types of student loans – Federal Student Aid Loans and private loans. The options you have for student loan forgiveness or other student loan debt adjustments depend on what kind of student loan you have.
Federal Student Aid Loan Forgiveness
Federal loans must be paid back in full unless you qualify for student loan forgiveness. Getting your loan forgiven only happens in rare occasions such as total and permanent disability, death or other unlikely situations. Read the U.S. Department of Education criteria for loan forgiveness.
Federal Student Aid Loan Repayment Plans
There are many different options available for paying back student loans. The U.S. Department of Education has a good article that discusses student loan debt repayment options.
It can be confusing to figure out what federal student loan repayment option to use. The Mid America Team can help identify the best repayment option based on your current financial situation. Using a reputable debt expert will ensure that you get the best plan to keep the costs down without stretching the payment timeline out too long.
Private Student Loan Debt
If your student loans are not backed by the federal government and are not tied to any collateral, your best option is to consider using debt settlement to reduce the amount of debt you owe. This is the equivalent of getting student loan debt forgiveness for a portion of your student loan debt.
Mid America Debt Relief can review your current loan balances, debtors, and financial situation and provide a plan to help you get out from under your student loan debt so you can focus on your career. (However, if you are financially capable of making your structured payments on time, you should do so.)
You will be able to handle the whole process. And we have enrollment and customer service agents standing by if you need assistance at any point in the process.