Consolidating into direct loan program

With a consolidation loan, borrowers can switch repayment plans at anytime.A consolidation loan may ease the strain on a borrower’s budget by lowering the borrowers overall monthly payment.

If you change to another qualified place of employment, and you keep making your payments, you can still be eligible for the PLSF.Under certain circumstances, federally backed student loans – such as Direct Subsidized Loans and Federal Perkins Loans – can be discharged or forgiven.The prospect of your student debt evaporating may seem like a dream come true.Most loans can be discharged in the following situations: "Circumstances beyond the borrower's control" do not include things like having to drop out of college before graduation or inability to find a job after graduation.However, there is a possibility that they could include a school using illegal recruiting tactics – for example, guaranteeing the student a well-paid career. Department of Education promised debt relief to students of the bankrupt for-profit Corinthian Colleges schools (click here for more information on how to apply).