Military Student Loan Forgiveness Programs
We understand just how crippling student debt can be. It’s been cited as the biggest modern financial crisis facing adults today. Fortunately, there are several outlets for loan forgiveness for those citizens that work in public service, none so much more than the men and women in the armed forces.
Military loan forgiveness is available from a variety of sources. The Public Service Loan Forgiveness program, for example, recognizes the outstanding bravery and patriotism that it takes to serve in the military and may entitle you to a complete refund. With us, it has never been easier to find out if you qualify for military student loan forgiveness programs.
It goes without saying that serving one’s country could be considered to be one of the utmost means of public service, and of course, the Public Student Loan Forgiveness program agrees. All men and women working full time in the military are eligible for this program, deemed to be the absolute best in loan forgiveness policy. However, there are a few requirements that one must meet to achieve military loan forgiveness.
As mentioned, the borrower must be working full time. Be sure to always submit a employment certification at least once a year to keep track of your employment. Over the course of ten years, you will be required to make 120 payments through an income-based payment program that will work around your income. The best part of all of this is that when you do receive your refund, should you have met all prerequisites, it will be considered non taxable income, preventing you from liability. This is a huge reason that the PSLF program is considered to be the best military student loan forgiveness program.
However, the Department of Education does not make it easy to find the information you need to properly apply for the program. Their website is difficult to navigate, with important forms linked in places that are hard to find. That’s where we come in: we make sure you have all the information you need, and if you still need help applying for the PSLF, we can give you a hand.
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The armed forces might be considered to be the greatest public service of all, as it demands a great deal of commitment and sacrifice, and so most would agree that you are entitled to forgiveness on your loans just by virtue of your service. While there’s just a little more red tape than that, it’s still no reason not to look into military student loan forgiveness programs to assist your finances through your military career. Contact us today – we’ll put you in touch with the experts you need.