Paying back the accumulated debt while studying at Keiser University may be arduous for some graduates. However, a solution called the Keiser University Loan Forgiveness Program will help ease the burden. What kind of program is it, and how can it be acquired? Scroll down to dive into the details of this discussion!
What is a Loan Forgiveness Program?
The loan forgiveness program settled by Keiser University is a type of financial assistance created to reduce or eliminate student loans. By issuing this program, Keiser University hopes graduates can pursue careers in specific high-demand fields to contribute to crucial sectors.
4 Criteria of the Keiser University Loan Forgiveness Program
Certainly, students need to meet several criteria to get the special benefits of this program. You need to fulfill some requirements as explained briefly below before applying for the loan forgiveness program.
1. Keiser University Graduate
First, the applicants must successfully complete their degree programs at Keiser University. This requirement means that students should not only accomplish their degree but also maintain their grades each semester to get their loans forgiven.
2. Specific Field of Employment
Besides maintaining good academic grades, students should be able to get a job in the public sector, as this loan forgiveness program is also designed to help the government. In addition, this requirement can also be added as a benefit for the student since it can increase career opportunities for them.
3. Great Dedication
Other than maintaining excellent grades, Keiser University Loan Forgiveness Program applicants can increase their chances of getting their loans forgiven by participating in all campus activities. You could also show dedication by joining community engagement, such as supporting community gardens.
The community garden is where neighborhood members gather to cultivate vegetables or fruits. By cultivating fruits and vegetables, many vacant lots can be turned into productive green gardens, producing many fresh agricultural products. In addition, students can also build strong relationships with other members.
4. Punctual Payments
The applicants need to complete all of the necessary documentation promptly. First, you must acquire the official form and fill it out immediately. Ensure you’ve attached the essential documents, such as federal loan details, bank information, graduation proof, income verification, and identification proofs.
Furthermore, ensure you have paid all the debts promptly to prove your dedication and responsibility as the borrower.
4 Types of Loan Forgiveness
After knowing all the criteria for obtaining the Keiser University Loan Forgiveness Program, you might be curious about the types of loan forgiveness available at this university. There are four types of student loan forgiveness, which you can see in the details below.
1. Income-Driven Repayment Plans
The federal program called Income-Driven Repayment Plans is a type of plan that lets you pay back debts with two repayment plans. Pay As You Earn (PAYE) and Income-Based Repayment (IBR) offer loan forgiveness after 25 years of on-time payments.
Correspondingly, you won’t face difficulty paying the debts monthly as the plan will automatically control your monthly payments based on the proportion of your income.
2. Public Service Loan Forgiveness
Keiser University Loan Forgiveness Program can also offer you the Public Service Loan Forgiveness type, qualifying you for debt forgiveness if you serve in the public sector. The only requirement of this program is you should have made 120 required payments.
You may wonder what kind of jobs are included in the public sector. The occupations included in this sector are teachers, doctors, or government employees.
3. Military Service
If you have served in the military, you may also be eligible to obtain the loan forgiveness issued by Keiser University. This plan will forgive up to $50,000 in federal student loans for military members.
4. Teacher Loan Forgiveness
Besides serving in the military, you may be eligible for loan forgiveness if you serve as a teacher. It’s not as much as the Military Service Loan Forgiveness; however, it could relieve your burden. The Teacher Loan Forgiveness Program can forgive up to $17,500 for qualified teachers who work as full-timers.
Bear in mind that the other requirement to get this loan forgiveness is maintaining this position for five consecutive years in a low-income institution.
Steps to Apply for the Keiser University Loan Forgiveness Program
You must follow five steps to apply for this debt forgiveness program. Each step you need to take will be thoroughly explained below.
1. Contact Program Administrators
The first thing you should do as an applicant is contact the program administrators. Please take note of their guidance carefully, and ensure you’ve understood all the requirements and information they gave you. Don’t forget to ask all of the questions you have in mind to obtain the information you miss.
2. Fill Out the Application Form
After contacting the program administrators, you will be given the official form to apply for the loan forgiveness program. Fill out the application form accurately and remember to attach the necessary documents such as identification proof, bank information, income verification, federal loan details, and graduation proof.
3. Submit the Application Form
If you have completed the application form, quickly submit it along with the supporting documents by the specified deadline.
4. Follow Up Proactively
The registration process won’t end once you’ve submitted the application form. Hence, following up on the progress of your Keiser University Loan Forgiveness Program is strongly advised. Check the application status regularly and remember to fulfill all the additional requests in time.
5. Comply with All Guidelines
All kinds of programs set by the university have their guidelines, not to mention this loan forgiveness program. Therefore, ensure you’ve understood all the guidelines set by Keiser University, including reporting updates and obligations given by the administrators.
The Program’s Benefits
You may obtain several positive sides by receiving the loan forgiveness set by Keiser University. Besides reduced financial burdens, you may experience elevated career opportunities, improved credit scores, peace of mind, and a chance to be useful to the communities.
Hence, obtaining this loan forgiveness program will not only benefit you as the applicant but also make an impact on the community and Keiser University.
Are You Ready to Make an Impact with the Keiser University Loan Forgiveness Program?
Reducing loans may be the initial purpose of the Keiser Loan Forgiveness; however, applying to this program may create the opportunity to get an appropriate job as well. This way, the program would benefit Keiser University’s graduates and surroundings.
Hence, if you’re a Keiser University graduate and need financial support to pay back your debts, ensure you’ve completed all the requirements for this program. The Keiser University Loan Forgiveness Program will elevate your career progress and daily life after graduating!