Frequently Asked Questions

General Questions

How do I apply for student loan forgiveness?

There is no application which will allow you to automatically get approved for fast student loan forgiveness. Also, these forgiveness programs have terms to complete–usually from 120-300 months–before the remaining balance on your student loans are totally discharged. We are here to help you with the paperwork to consolidate your Federal Student Loans and get you enrolled in an Income-Driven Repayment program, such as but not limited to Revised Pay As You Earn (REPAYE) or Income-Based Repayment Program (IBR).

How much is the cost of your services?

The service cost is basic on document preparation for your application and other required services. We only get paid if you’re successfully APPROVED. Lastly, we have 100% money back GUARANTEE if your approval isn’t exactly what we promise.

Can I apply for the repayment / forgiveness program on my own?

Definitely. You have the option to apply to the repayment or forgiveness program yourself. Just go to your loan servicer and discuss your current situation with them. If ever you’re having challenges with your loan servicer, you may come to us. We are on your side!

Where can I research these repayment programs?

A good resource to start is with your loan servicer or the Department of Education. We also took the liberty of providing detailed information of these programs on our website and downloadable guiding material on the homepage.

What happens if I want to CANCEL my service with your company?

Student Loan & Savings has a hassle cancel-free policy. You may cancel at anytime for any reason. Lastly, we have 100% money back GUARANTEE if your approval isn’t exactly what we promise.

Send us an email at cancel@studentsavings.us or call 855-555-5555

Our Services

How does this work?

Student Loan & Savings is a third-party document preparation company that help customers pre-qualify their student loans into Student Relief or Forgiveness Programs. These programs are primarily based on one’s income, family size, geographic poverty level, and personal hardship.

We calculate all these factors and present you with all facts and available programs. Additionally, other factors may be considered to determine the customer’s qualifications such as place of work (e.g. civil or public servant), disability (permanently or temporary), employment status, and other minor information as needed.

What services do you specialize in?

We specialize in helping customers enroll into different Federal student loan repayment or forgiveness programs such as Income-Driven Repayment Plans, Public Service Loan Forgiveness, Disability Discharge, Loan Consolidation, and Loan Rehabilitation.

What happens to my old servicers?

Your loans will be held and funded by the Department of Education. They may at some point be passed back to your original servicer or a new servicer but will be enrolled and fully compliant on your new program.

When do I begin repayment?

For Direct Consolidation Loans, repayment can begin 60 days after the loan is disbursed or sooner. Your loan servicer will inform you of the schedule of your first payment. Terms of payment may be from 10 to 30 years, depending on your consolidated loan balance amount, other federal student loan debt amount, and the type of repayment plan selected.

How do you do the qualification process?

First, we review your student loan balance and status. Then, we ask you some qualifying questions based on your income, family size, geographic poverty level and personal hardship. Additionally, other factors may be considered to determine the customer’s qualifications such as place of work (e.g. civil or public servant), disability (permanently or temporary), employment status, and other minor information as needed. From there, we will review the programs that you may qualify for.

Repayment and Forgiveness Program

Are there different repayment plans?

Yes, there are several options to choose from. Each repayment plan is designed to cater to different individual borrower’s needs. Ask your loan servicer about these options.

What are the repayment plans?

The Department of Education offers many repayment plans. Check out their website–www.studentaid.gov–for more details.

  • Standard Repayment Plan: offers a fixed amount for you to pay each month. The term can be from 10 to 30 years depending on your loan balance.
  • Graduated Repayment Plan: starts at a lower monthly payment, and increases gradually every two years, until you’ve covered the entire loan amount. Terms can also be from 10 to 30 years, depending on your loan balance.
  • Income-Driven Repayment Plans: offers borrowers the option to have lower monthly payments based on their income and family size. Terms range from 20 to 25 years. With these plans, the remaining loan balance will be forgiven after the term of the program has been completed.

(Reference: https://studentaid.gov/manage-loans/repayment/plans)

What is Student Loan Forgiveness?

The different Income-Driven Repayment Plans (e.g. Pay As You Earn, Revised Pay As You Earn, Income-Based Repayment, Income-Contingent Repayment) have terms wherein if the borrower still has a loan balance remaining after the term is completed, then the remaining balance could be forgiven. Terms range from 20 to 25 years, depending on the type of repayment plan the borrower qualifies for. The amount forgiven would depend on the original loan amount, the borrower’s earnings, and how much the borrower’s income changes during the repayment term.

What are the available Income-Driven Repayment (IDR) plans?

The Department of Education offers the following Income-Driven Repayment Plans:

  • Revised Pay As You Earn (REPAYE)
  • Pay As You Earn (PAYE)
  • Income-Based Repayment Plan (IBR)
  • Income-Contingent Repayment Plan (ICR)

For more information about these plans, visit https://studentaid.gov/app/ibrInstructions.action

I am disabled. How can I qualify for forgiveness?

If you are permanently disabled, there is a program that relieves you from having to repay or comply with your obligations associated with all your Federal student loans. Before your Federal student loans can be discharged, you must submit an application for discharge and provide the TPD (Total and Permanent Disability) form signed by your doctor. Once the form is received by the Department of Education, they will determine if you qualify for a TPD Discharge.

My taxes and income are being garnished. Do you have a program to help me?

There is a program available to stop the garnishment and get your loans back into good standing. This program is called a Loan Rehabilitation Program and is a ONE-TIME opportunity. It requires you to pay the servicer collection agency a good faith payment between $5-$30 for 9 months consistently. Afterward, you will be taken out of wage garnishment and start paying your student loans based on the repayment plan that your loan is currently enrolled in.

Once you’re out of garnishment, you can apply for an Income-Driven Repayment plan so that you have the option for lower monthly payments.

Can you help with my Private student loan?

No. Student Loan & Savings is a third-party document preparation company that ONLY work on Federal student loan programs applications.

What is the Public Service Loan Forgiveness program?

The US Congress constituted the Public Service Loan Forgiveness Program (PSLF) in 2007. This was made for individuals who work full-time in public service jobs or organizations that cater to public and/or community services. If qualified, borrowers are asked to make 120 payments under a specific repayment plan, and the remaining balance would be forgiven after finishing the term of payment.

For more information about PSLF, you may visit https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.

What does it mean to consolidate my loans?

Consolidating all your eligible student loans means putting them into one bigger loan with one monthly payment. Once loans are consolidated, you have the option to apply for a variety of repayment plans that offer lower payments and fixed interest rates. Plus, it will give you the opportunity for a fresh start in terms of deferment or forbearance by up to three years. Some repayment plans, like the Income-Driven ones, allow you to have forgiveness at the end of the term if you have a balance remaining once the term is done.

Affiliation with Servicer and DOE

Are you affiliated with lenders and servicers?

Student Loan & Savings is a third-party document preparation company and has NO relationship or affiliation with any servicer or lenders. Our company specializes in student loan repayment and forgiveness programs because we research, study, and follow the Department of Education’s program guidelines.

Are you affiliated with the Department of Education?

Student Loan & Savings is a third-party document preparation company and has NO relationship or affiliation with the Department of Education or any government institution. We follow the guidelines issued by the Department of Education. For more information about repayment and forgiveness programs, check out www.studentaid.gov.

What happens to my old servicers?

Your loans will be held and funded at the Department of Education. They may at some point be passed back to your original servicer or a new servicer but will be enrolled and fully compliant on your new program.

Will you be paying down my student loans?

Student Loan & Savings is a third-party document preparation company and will NOT be paying down your student loan balance. We are NOT your servicer, lender, or debt mediator to assist paying down your student loan balance.

Can I do this on my own?

Definitely. You have the option to apply to the repayment or forgiveness program yourself. Just go to your loan servicer and discuss your situation with them. If ever you’re having challenges with your loan servicer, you may come to us. We are on your side!

About Us

What company are your from?

Student Loan & Savings is a third-party document preparation company helping customers qualify for Federal student loan repayment and forgiveness programs. We provide student loan borrowers who are experiencing hardship with the solution and the means to be able to repay and manage their Federal student loans.

Where are you located?

Our office is at 145 E Place Drive Santa Ana, CA 92705. We operate from Mondays through Fridays, 8:30AM to 5:30PM Pacific Time.

How do we contact you?

You can go to our Contact Us page and leave your name, phone number, and contact details. Or you can call or email us at (855) 776-6742, info@studentsavings.io