Student Loan Debt Services
We help individuals become debt-free from student loans by identifying the best repayment plan offered by the U.S. Department of Education and the best path toward student loan forgiveness.
The Federal Reserve records the “total outstanding student loan debt has increased by roughly 52% since 2013”. Having debt is a big part of our daily lives and student loan debt is the second largest form of consumer debt within U.S. households with an estimated 1.6 trillion dollars.
What is Student Loan Forgiveness?
Student Loan Forgiveness, specifically, Public Service Loan Forgiveness or PSLF is a federal program. It provides loan forgiveness for qualified employees who work full-time - a minimum of 30 hours per week - for a variety of qualifying employers. It is a great opportunity for individuals to be rewarded for their employment by having part or all of their federal loan debt “forgiven” or discharged. PSLF requirements vary depending on several situations, ie., the types of loans a person has, but most importantly for specific employees who work full-time at a qualifying specific employer, public service job & industry.
A REQUIRED 120 payments (equivalent of 10yrs) of federal student loans, from qualified applicants, {the remaining payments will then be forgiven}
Which equals to 120 qualifying payments
We specialize in:
*PSLF (Student Loan Forgiveness) & Student Loan Forgiveness programs
*Defaults / Wage Garnishment
*Recent College Graduate repayment plans
The Federal Student Loan Repayment Plans that qualify for Student Loan Forgiveness:
*IBR (Income-Based Repayment) - if you have loans from before July 1, 2014, your maximum monthly payments will NEVER exceed 15% of your discretionary income ~ {Student loan forgiveness eligibility is after 20 years of qualifying payments}
*ICR (Income-Contingent Repayment plan) - There are no initial income requirements for ICR and those eligible may make payments under this plan - which will be 20% of your discretionary income & have to submit evidence of your income every year…This is based on your gross income, family size and outstanding federal loan balance ~ {Student loan forgiveness eligibility is after 25 years of qualifying payments}
*PAYE (Pay As You Earn plan) - Similar to IBR, your payment will NEVER exceed 10% of your discretionary income ~ {Student loan forgiveness eligibility is after 20 years of qualifying payments}
*REPAYE (Revised Pay As You Earn plan) - Open to ALL direct loan borrowers regardless of when the loan was taken out & your payment will NEVER exceed 10% of your discretionary income… ~ {Student loan forgiveness eligibility is after 20 years of qualifying payments}
*SAVE (Saving on a Valuable Education plan) - Officially rolled out in July 2023 the SAVE plan calculates payments based on your discretionary income & family size…
*Discretionary Income - is determined by a formula based on your family size and taxable income…
BBE Student Loan Debt Services
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Student Loan Forgiveness (PSLF)
*Are you working at least 30 hours for a qualified employer?
*Do you work for a non-profit OR have your non-profit?
*Do you have federal loans?
*Are you in the correct repayment plan?
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Loans in Default (Wage Garnishment)
*Are your loans in default?
*Have you ever felt frustrated when a portion of your hard-earned salary is taken away through garnishment
*Have you experienced having your salary dollars taken away through garnishment, and thus not receiving your full paycheck?
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Consultations
Consult with Me!
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Loan Consolidation
Loan Consolidation
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PLUS Loans
Do you have:
*Parent PLUS Loans
*Graduated PLUS Loans
*Extended PLUS Loans
*and others
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Recent College Grads
*Are you a recent college grad (of any age)?
**You have a 6mth grace period before your repayment begins? Are you on the correct repayment plan?
FAQs
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