If you live in Delaware, you’re eligible for all the student loan forgiveness programs available on a national level. But you could also qualify for a generous student loan forgiveness option, just for Delaware residents who work in medical or mental health fields. Here’s some more info on what this program is and how you qualify.
This program is designed to help medical and mental health professionals pay off their loans. Specialties that qualify include:
The deal is this: Agree to work in an area of Delaware designated as underserved for two or three years, and you could get up to $105,000 (for advanced-degree practitioners) or $52,500 (for mid-level degree practitioners) toward your student loans.
Some of the other qualifying requirements include:
This program pays back both your bachelor’s and graduate-level student loans, and it will pay back both federal and private loans. In some cases, the disbursements for loan forgiveness are tax-free.
You can apply by filling out the form here.
In addition to the Delaware State Loan Forgiveness Program, you may be eligible to get student loan forgiveness at the federal level. Some of your options include:
Ideally, you’re supposed to get your student loans forgiven after you’ve made 120 qualifying payments (which takes about 10 years) and work for a qualifying employer.
This program has been severely mismanaged, but forgiveness may be possible if you’re careful about meeting all requirements. You may also qualify for a new program to give some borrowers who were initially rejected another chance.
This is actually four distinct programs, each of which will reduce your monthly payments to a percentage of your disposable income. After 20-25 years, you can get your loans forgiven.
There are also other student loan forgiveness programs at the national level, including:
Click here for a more exhaustive list.
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SoFi is the leading student loan refinancing provider.
$30 billion+ in refinanced student loans. SoFi has some of the lowest interest rates and, unlike the other lenders we reviewed, there's no maximum on the amount you can finance. Some state restrictions may apply.
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If you’re ready to put student loans in your rearview mirror, Nelnet Bank student loan refinancing offers low rates and flexible terms to help you start getting ahead.
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Works with 300+ community lenders for higher approval chances
Connecting student borrowers to a network of over 300 community lenders with low interest rates. By partnering with these lenders, LendKey is able to give consumers direct access to the best rates available from the most borrower friendly institutions. As the servicer of all loans obtained through its platform, you can rest easy knowing your personal information will be safe and that the best customer service team will be ready to answer your questions from application until your final payment.
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College Ave Student Loans offers major help and minor stress. We’ll help guide you through the process to find the right loan term and interest rate for you and the family budget.