Consolidating federal student loan debt

05 Apr

There are various federal student loan forgiveness opportunities available to physical therapists and physical therapist assistants who qualify.

APTA also advocates for physical therapists to be eligible for additional student loan forgiveness programs in Congress.

Here's what you need to know before deciding to consolidate student loans.

Loan consolidation is when a borrower takes out a new loan to pay off several smaller student loans.

Indian Health Service Student Loan Repayment Opportunity The mission of the Indian Health Service (IHS) is to raise the physical, mental, social and spiritual health of American Indians and Alaska Natives to the highest level.

The IHS Loan Repayment Program (LRP) offers health professionals, including physical therapists, the opportunity to pay off qualified student loans to meet the staffing needs of Indian health programs.

It takes borrowers an average of 21 years to repay their student loans, while 28% of students are in default (or miss payments for 270 days or more) within five years of entering repayment.

consolidating federal student loan debt-86consolidating federal student loan debt-3

Income Based Repayment Unsubsidized Stafford Loans are eligible for income based repayment (IBR) through the Department of Education if they qualify through the federal government.Student loan consolidation or refinancing can be a great tool to use for those looking to save on, or simplify, their monthly payments, but going that route can also have serious consequences if not approached carefully – there are even student loan consolidations scams to be aware of.That’s why we created this guide – to give borrowers a useful resource that empowers them to choose if student loan consolidation is right for them and which type may best suit their needs.Even if your rates seem high, t he Department of Education puts a cap on consolidation loan rates at 8.25 percent.One major advantage of federal consolidation loans is that borrowers don't need a stellar credit score to qualify, they can apply any time (even if their loan is in default) at Loan gov, and they'll always get a fixed interest rate.