How To Get Your Student Loans Forgiven: 3 Tips From Skilled Ex-Students

24 days ago

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Honestly speaking, in 2018, student debts are the most scaring thing for young people. And it comes not for US students only! There’s a popular public service loan forgiveness program. Still, less than 1% of people who applied to have their student debt canceled were actually approved. Today, the Typical Student team prepared the recommendations of these lucky guys. Here are the tips from the first public servants who had their student loans forgiven.

 

Loan Forgiveness Requirements

Before everything else let’s take a look at recent public service loan forgiveness requirements. Here is what you need.

  • Your loans must be federal direct loans.
  • Your employer must be a government organization at any level, a 501(c)(3) not-for-profit organization or some other type of not-for-profit organization that provides public service.
  • Besides, you need to have made 120 qualifying, on-time payments in an income-driven repayment plan or the standard repayment plan.

#1 Matt Tremel, Saxophonist, U.S. Navy

student-loans-forgivness-tips-1.jpgMatts’ student debt was $14,000 and the Education Department forgave it.
His advice is quite cynical. "You can't trust anybody who tells you something," Matt said. What does it mean? The ex-student says that he verified, via the Education Department's website, all of the info he received from his lender.

 

#2 Trevor Milliron, Professor, Lee University

student-loans-forgivness-tips-2.jpgTrevor got more than $135,000 in student debt forgiven in 2018! Professor Milliron recommends being as "proactive as you possibly can." You have to make sure you're eligible for the forgiveness. "There are too many things that can go wrong," he said. "You need to stay on top of it."

 

#3 Nina Pomponio, Lawyer, Massachusetts Probation Service

student-loans-forgivness-tips-3.jpgOne day, Nina Pomponio received the notice in June that her $50,000 in student debt was canceled. Her advice to young students is to document everything. During her communications with her lender, Nina took "copious notes including names and reference numbers."

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