Did that the variety of individuals enrolled in an income-based student loan compensation plan has tripled over the past 5 years? With the common quantity of student loan debt and month-to-month funds growing, it’s one of many best methods to handle your student loan debt and keep away from default. What’s one other means you possibly can cut back your student debt? Check out the Student Loan Forgiveness Scholarship from MoneySolver. Yes, it actually does exist – and it could assist shave $2,500 off your student loan invoice.
Is Student Loan Forgiveness Real?
Let’s be candid for a second. Does student loan forgiveness exist? Yes, it does. Is there any actual likelihood that you simply’ll obtain forgiveness? Probably not.
In reality, greater than 99 p.c of those that utilized for loan forgiveness didn’t obtain it. Most had been denied as a result of they didn’t meet the eligibility necessities, or they failed to supply the required documentation. The course of is lengthy, difficult, and irritating. Thankfully, this isn’t the case in relation to making use of for the $2,500 Student Loan Forgiveness Scholarship.
How to Apply for the Student Loan Forgiveness Scholarship
Unlike the federal government’s student loan forgiveness packages, MoneySolver’s $2,500 Student Loan Forgiveness Scholarship utility is enjoyable and simple. Access the net portal, present your contact data and student loan debt quantity. Then, submit a written response (250 phrases or much less) to the next query: “How have student loan payments impacted your life?” That’s it!
The deadline to use is December 31, 2019. If you need to get a leg up on the competitors, remember to take a look at the Student Loan Relief Scholarship winner and our scholarship essay writing ideas.
Who Is Eligible?
Current and former school students (sure, even those that didn’t obtain a level) might apply for the Student Loan Forgiveness Scholarship. As far as different eligibility necessities go, you should:
- Be 18 or older on the time of utility
- Be a authorized U.S. resident
- Have student loan debt
High faculty students or these with no student loan debt is not going to be thought-about for the award.
Other Student Loan Scholarships & Contests
If you qualify for the $2,500 Student Loan Forgiveness Scholarship, you must also take a look at these annual student loan scholarships supplied by MoneySolver.
In addition to their month-to-month $1K scholarships, MoneySolver is internet hosting a $50,000 #PayMyStudentLoan Contest for many who have accomplished school. If you might be presently in compensation standing in your student loans, remember to apply earlier than January 31, 2020. One fortunate winner can have their student loan debt worn out (as much as $50,000). It’s a good way to start out the brand new 12 months!