In addition to all these program-specific options, federal entities, and national organizations, your state or school might offer service-based programs that cancel, reduce, or repay part of your student loans.
Contact your state agency for postsecondary education to see what programs are available in your region. For the address and telephone number of your state agency, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). You can also find this information at www.studentaid.ed.gov. At the site, click on the "Funding" tab, then go to "State Aid." Also check out loan forgiveness programs that may be available to you through trade groups, religious, civil, or professional organizations with which you are affiliated.
Lastly, for more info about loan forgiveness options, pick up a copy of The Student Loan Forgiveness Directory by the Fannie Mae Foundation and National College Scholarship Foundation. The book contains a list of some 200 institutional loan forgiveness programs. It's organized by state and has annotated and detailed listings about each program. To order a copy, write to the National College Scholarship Foundation, PO Box 8207, Gaithersburg, MD 20898-8207. The book is also offered through the Scholarship Resource Network, Inc., 44 Regatta View Drive, Saratoga Springs, NY 12866.
Article Title : Other Loan Forgiveness Programs
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When I first called EdFed I was impressed by the customer service. With other companies I called it was always an automated system that picked up and if I was lucky I was transferred to a live person. The Loan Counselor that I spoke with at EdFed was knowledgeable and quick to answer any and all questions I had. I was also able to get my application e-signed that same day. Now, thanks to EdFed, I have saved over $200 in the past two months. - Jessica S. Des Moine, IA
The interest rate on all federal loans has increased by almost 2 percent; you must consolidate now or you will be stuck with this high rate for the life of your loan.
