Federal student loans are held by millions of people in the United States. However, the default rates on these loans continue to increase. In fact, the Brookings Institution argues that nearly 40 percent of federal loan borrowers could default by 2023. What many borrowers may not realize is that federal student loans have multiple repayment programs and tools that can prevent default. There are also loan forgiveness options for federal student loans. When attorneys Neil Sader and Michael Wambolt penned an article for Primerus Paradigm on federal loans, they emphasized that “what you owe is less important than what you know.” You must know which types of federal loans you carry to take advantage of these programs. Using the National Student Loan Data System The Department of Education’s Federal Student Aid Office (FSA) maintains the National Student Loan Data System (NSLDS). You can access your federal student loan data by…
Read More »
Whether you are approaching the end of your high school career or are seeking higher education later in life, you will have to answer the question: Where will I find the money to ensure a successful career? The vast majority of people seeking a college education will look to loans as their means of getting their degrees. There are a variety of institutions that are willing to fund an individual’s college aspirations, but what types of loans are best for you? What are the benefits of federal student loans? Here is a short list. You do not need a credit history to obtain federal student loans. Whereas most private loans require some sort of credit history, federal student loans are available to any enrolled undergraduate that can demonstrate financial need. Federal student loans do not require a co-signer. If you are young and do not have much credit history, you…
Read More »
The Department of Education is partnering with the Department of Veterans Affairs to contact disabled veterans who are eligible for student loan forgiveness. Last month, the Education Department announced it will send eligible veterans applications for a total and permanent disability discharge (TPD discharge) in the mail. The TPD discharge has existed for many years. Many borrowers who are eligible for this option, including tens of thousands of veterans, are unaware this option for student loan forgiveness exists. This is why the Education Department and Veterans Affairs Department are teaming up to notify thousands of disabled veterans who are eligible. The Education Department will cross reference data in the National Student Loan Data System with information from the Veterans Affairs Department to identify eligible borrowers. There is more good news for veterans who are eligible for this student loan forgiveness option. For many years, disabled borrowers who received a disability…
Read More »
*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
© 2010–2024 The Sader Law Firm
Book an
Email
Directions
