Do I Qualify?
While most clients do qualify for the loan consolidation, it’s not for everyone. Remember that this is a bundling of loans – meaning 2 or more accounts that will be combined. We have included a list of the types of government loans that qualify for not only for consolidation, but for loan forgiveness as well! Unfortunately, any student loans acquired through non-government channels such as private or trade schools cannot be included.
The following are government loans that qualify for consolidation and for forgiveness:
- Direct Subsidized and Unsubsidized Loans
- Federal Perkins Loans
- Subsidized and Unsubsidized Federal Stafford Loans
- Federal Nursing Loans
- Direct PLUS LOANS and FFEL Loans
- Health Education Assistance Loans
- Supplemental Loans for Students – SLS Some Existing Consolidation Loan
There are also special forgiveness programs that incentivize workers in professions such as:
- Public Education
- Law Enforcement
- Government Employees
- Non-Profit Employees
- Healthcare Professionals
Is consolidation for me?
From our experience, we’ve learned that some benefit more than others. For the sake of efficiency and maximum benefit for our clients, Student Loan Advantage has targeted clients in a more specific way. Based on our data, we have compiled a list of candidates that would receive the highest percentage of aid from combining loans and/or receiving a principal balance reduction – If ANY of these apply, simply click on Get Started and fill out our contact form!
- $5,000+ in current federal student loans
- Those experiencing any financial hardships or late payments, including individuals or families that are under-employed and self-employed
- Households of 2 or more
- Two income households cut to a single income due to job loss and/ pay cuts/ maternity or other medical situation
- Those attempting to improve their credit standings for major purchases