Premier Student Loan Center

PREMIER STUDENT LOAN CENTER

Premier Student Loan Center is a debt resolution company based in the USA. Its headquarters are in Irvine, CA. 

Premier Student Loan Center offers consultancy services on a wide range of debt issues. However, it has a specialization in student loans. The company has helped a lot of its clients to obtain a student loan discharge or forgiveness since its inception 5 years ago.

Student loan discharge or forgiveness isn’t particularly easy to obtain and there are plenty of requirements to meet and hoops to go through before the dream of getting rid of your student debt can come true. As a result, many students turn to consultancy companies like Premier Student Loan Center to help them with the application process including, among other things, meeting the requirements, document preparation, and exploring their options.

What is Student Loan Forgiveness?

The state of debt in the United States is such that student debt is at the highest levels it has ever been in history. There are about 40 million Americans owing about $30,000 in debt on average according to the company Experian that compiles credit profiles for Americans. Students are having a hard time in this environment where they find themselves crippled under debt and will go for any strategy that will help them escape the quagmire of debt. That is where student debt forgiveness comes in. There are circumstances in which Direct Subsidized Loans, Federal Perkins Loans, and other federally backed loans can be forgiven or discharged.

The Difference between Student Loan Discharge and Student Loan Forgiveness

The two are often confused with each other. However, there is a world of difference between them and it is important to know that a discharged student loan is very different from a forgiven student loan.

Discharge

A student loan can be discharged under certain circumstances. These include the ones below:

• The death of the borrower
• A failure by the school to refund required loans to the lender
• The use of identity theft to secure the loan
• The falsification of loan documents and qualifications by the school
• The closure of the school in the course of study
• The suffering of a permanent disability by the borrower

The student loan can be discharged in circumstances beyond the debtor’s control and does not include such things as dropping out of college before graduation or being unable to secure employment after graduation.

Forgiveness Programs

You can earn forgiveness on your student loan through two main ways: you can either work in public service or make instalment payments of your loan through any one of the many income-contingent payment programs for given period (usually 25 years). There are conditions, limitations, and requirements for each of this, but it is possible to get your student loan forgiven. 

Premier Student Loan Center http://premierstudentloancenter.com/