The document discusses the top 6 frequently asked questions about President Obama's student loan forgiveness program. It explains that the program forgives remaining student loan debt for those who work in eligible public sector fields like nursing, teaching, or the military. It outlines the eligibility criteria, including that borrowers must have direct or guaranteed federal loans disbursed in 2008 or later, not be in default, and have exclusively federal loans. The document also notes that consolidation of loans and automatic payments can help borrowers qualify for forgiveness.

1. Top 6 FAQ’s related to Obama
Student Loan Forgiveness
Program

2. At the time of its introduction, the
Obama Student Loan forgiveness scheme was riddled with so
many gaps. From restrictive eligibility criteria to lot of
misinformation floating around its benefits, the program was
almost tagged as the most negative reform in the education
system in recent years. However, with adequate efforts by the
lenders and the federal agencies, the forgiveness plan has
actually managed to gain tremendous popularity.
Availing student loans in USA is no longer a burden if you are
covered by the Obama Student Loan Forgiveness system. Here
are top frequently asked questions related to the novel and
progressive reform.

3. 1. Does loan forgiveness mean cancellation of the debt?
Yes, the Obama loan
forgiveness scheme for nurses,
teachers and military is actually
a step to write off the remaining
debts against their loan
account. The debt relief
program is steadily gaining
support from federal lenders
who are no longer pushing their
borrowers month after month.
Once loan forgiveness is
approved, the reminder amount
in debt is cancelled after 20
years of consistent repayment.

4. 2. Will I earn more forgiveness if I work in public sector?
To boost public sector employability and attract talent into the government
organizations, Obama introduced the forgiveness program. To earn
forgiveness in a shorter time, students can choose professions in
medicine, research, education, hospitality, fire safety, law and order, and
military.

5. 3. Can I consolidate the student loans with other accounts?
Obama student loan forgiveness gives the borrower an option to
consolidate the existing loan with other federal loans for consistent
repayment schedule. The consolidation serves two purposes:
O Timely payment of all loans
O Earn rightful extension from lenders in case of serious economic
crunch

6. 4. How to ensure I am eligible for the student loan
forgiveness as of now?
As of now, student loan borrowers with loans older than October 2007 are
yet to be covered under the program. Reforms are underway to
accommodate the older loan borrowers once the existing coverage
benefits are studied.
In order to qualify into the program, the borrower has to fulfil these criteria.
O You have availed both Direct & guaranteed federal loans
O Both these loans were disbursed in year 2008, or afterwards
O You have not defaulted the student loan
O Your loans are exclusively Federal, and not private loans

7. 5. Whom should I contact to avail loan forgiveness
benefits?
The first agency you should contact to avail benefits of loan forgiveness is
the federal loan provider. Ask them if you meet the criteria for the loan
forgiveness and complete the application form online. You can apply for
the forgiveness by filling application form for Income Based repayment;
Pay As You Ear and other approved repayment plans.

8. 6. Will automatic payment help me earn forgiveness?
Yes, it will as you are
eligible to receive
0.25 percent discount
in the monthly
payments. It will help
earn forgiveness on
time for sure as it
ensures the debt
money is arriving
consistently without
missing on deadlines.

9. Contact Us
Student Debt Center
Name - Cesar Buitrago
Address - 18459 Pines Boulevard, Suite 532,
Pembroke Pines, FL 33029
Contact No. - 800-551-7187
Email - info@studentdebtcenter.org
Website - http://studentdebtcenter.org/

10. Contact Us
Student Debt Center
Name - Cesar Buitrago
Address - 18459 Pines Boulevard, Suite 532,
Pembroke Pines, FL 33029
Contact No. - 800-551-7187
Email - info@studentdebtcenter.org
Website - http://studentdebtcenter.org/