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August 2022 Updates ! Great Lakes Student Loan Forgiveness 

By: Mary Jones

Traveling knowledge

Who is Great Lakes?

Great Lakes is a student loan servicer that was approved by the Department of Education to service federal student loans.

What Services Does Great Lakes Provide?

Eligible borrowers have several Great Lakes student loan forgiveness programs available to them through its partnership with the Department of Education.

Who Qualifies For Student Loan Forgiveness

This program is different from forgiveness programs that cancel loans because the borrower is working in a qualifying profession or public service

Types of Loan Forgiveness Programs

It’s important to keep in mind that the list of programs is not complete and there are others that are available. These programs are the most common that are offered by Great Lakes

Teacher Loan Forgiveness

teacher loan forgiveness program is meant for those who teach full-time and have completed five consecutive academic years at a low-income elementary, secondary school or educational service agency.

Public Service Loan Forgiveness

Other requirements include that you have qualifying loans for Public Service Loan Forgiveness that are with Great Lakes.

Public Service Loan Forgiveness

This program was launched as a result of the Consolidated Appropriations Act of 2018 to help borrowers in this situation.

Closed School Discharge

borrowers who attended or enrolled in a school that was closed and had taken out federal student loans, you may qualify for a discharge.

Permanent Disability Discharge

program  for permanently disabled veterans or individuals receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income

Forgiven Student Loans

The short answer to whether you will owe taxes on forgiven student loans is that it depends. With the numerous programs that are out there for student loan borrowers

Great Lakes Student Loan Repayment Plans

qualify for IBR, you must have federal student loans that meet the requirements. Private loans and parent loans do not qualify for the IBR. Additionally

More Details

For full details about this information please visit our website click on given link below.