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Student Loan Forgiveness Resources Not everyone can afford higher learning. There are very bright students out there who graduate from high school with very good grades but cannot proceed to colleges due to their inability to pay school fees. The government comes in by providing student loans. The government will pay a certain percentage of the college fee, and in return, the student will have to repay the loan later after completing their courses and securing a job. Many students have benefited from this programs. Some very wealthy, prominent and successful people around also went through this system. The requirement student loan forgiveness is the successful repayments for one twenty months and meeting some other necessary conditions. This process is called student loan forgiveness. Therefore some students might just be left out of this program. One requirement for this program is that the loan should be a direct federal loan. When these payments are made, for one twenty months, one has to dedicate themselves to public service. Therefore those willing to receive lower salaries and dedicating their lives to public service are the ones rewarded. Very many students have benefited from this program as stated earlier. On way by which this program has been beneficial is by debt payment relief. This may also be accompanied by very low-interest rates. The principal amount may also go down as well. There is also a possible elongation of the payment time. This means that the monthly installments will substantially go down. This will enable someone to save a little more money or even stabilize themselves to avoid further loan encounters. This is the main reason why federal student loans are the most preferable. 5 Lessons Learned: Forgiveness There is a unique benefit of student loans. Students paying their college fees using loans are always more confident when it comes to chasing of their educational dreams and aspirations for a brighter future. To access the federal loans, one has to go through a lot. It is usually the few more determined students that get the chance to access these loans. In addition, such students bear in mind that they must repay these loans. And to do this, they need to work extra hard to pass well so that they can secure jobs and be able to repay these loans. It will therefore be correct to say that federal student loans motivate students to work even harder. What I Can Teach You About Loan In conclusion, the federal loans have changed the lives of very many students. This is so because some other loans like the unsecured are capable of causing major problems in future. They are also hard to acquire. Private loan consolidation are very hard to find. Many students, therefore, opt for federal student loans due to the obvious reasons. Some students fail to secure jobs after graduating from college. These are the type of people that would need the student loan forgiveness so badly.