Repayment Plan Based Student Loan Forgiveness
These student loan forgiveness plans are tied to your student loan repayment plan. If you’re on one of these qualifying repayment plans, you’ll be eligible for student loan forgiveness at the end of your repayment term.
Most borrowers qualify for student loan forgiveness through one of these “secret” ways. The secret is simple: sign up for a qualifying student loan repayment plan, and any remaining balance on your loan will be forgiven at the end of the plan.
It’s important to note that these income-driven repayment plan options due have some criteria that must be met to be eligible. If you have no remaining balance at the end of the loan term, you get no student loan forgiveness.
It’s also important to note that the student loan forgiveness on these plans is typically considered taxable income. However, President Biden made all loan forgiveness and discharge tax-free Federally through December 31, 2025. Learn more about taxes and student loan forgiveness here.
You can apply for these repayment plans with student loan forgiveness by calling your lender or going online to StudentLoans.gov.
Supplemental Security Income #
The Supplemental Security Income program provides monthly cash assistance to people who are disabled, blind, or elderly. Since its launch in 1974, SSI has guaranteed a minimum level of income to those who qualify.
The current basic monthly SSI benefit is $841 for an individual and $1,261 for a couple. 6
SSI recipients may also get non-cash forms of assistance. In most states, anyone who receives SSI benefits is automatically eligible for Medicaid.
While the SSI is designed for a wide range of people like the blind or the elderly, the benefits also apply to children with disabilities whose parents have very little income or resources.
For many single parents with disabled child, SSI often represents their only source of income. But eligibility criteria are complicated and the application process time-consuming.
If you plan to apply for SSI, you can complete the application online at www.ssa.gov or call toll-free at 1-800-772-1213 to ask for an appointment with a Social Security representative
Children’s Health Insurance Program
For families who earn too much to receive Medicaid, but too little to afford private health insurance, CHIP is an affordable option. This service covers routine checkups, emergency services, immunizations, prescriptions, and laboratory tests, just like any other insurance plan.
While the cost varies from state to state, if you qualify, you will never pay more than 5% of your familys yearly income. To sign up, call 1-800-318-2596 or go to the Health Insurance Marketplace and fill out an application.
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Take A Look At Section 8 Rental Subsidy
Section 8 Rental Subsidy or more popularly known as Section 8 is a housing program that helps the poorest families find and fund a decent and safe house for rent. It is a federal housing program.
Section 8 is a housing assistance for single mothers with low income that provides vouchers equivalent to 70 percent of the utilities and rental payments. The remaining 30 percent should be shouldered by the beneficiaries of the program.
To illustrate, a single mom of three kids renting a home for $700 a month and working 30 hours earning the minimum wage can receive a voucher of around $440 monthly.
This emergency rent assistance for single mothers has always been oversubscribed and one may have to endure being on the waiting list for some years. Those interested can get in touch with the PHA from their local community to inquire about the wait times in their area.
Student Loan Repayment Assistance Programs For Other Careers
Most state LRAPs award loan assistance to professionals in exchange for two years of service. The most common occupations are doctors, nurses, teachers and lawyers, but some other career paths qualify, too.
Several LRAPs for doctors, for instance, help out pharmacists and veterinarians. Other programs, like the Alfond Leaders Program in Maine, award people in STEM careers.
Even if youre not a doctor, nurse, teacher and lawyer, check your states offerings to find out if it has a loan repayment assistance program for you.
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Private Student Loans For Single Mothers
Single mothers who have maxed out their federal student loans and need more money can turn to private student loans. Unfortunately, private student loans may be harder to obtain than federal loans.
Private student loan companies often have credit and income score requirements youll need to meet. You generally need a credit score above 650 to qualify for a private student loan without a cosigner. Income requirements vary depending on the lender.
If you stop making payments or default on the loan, the lender will come after the cosigner. You can choose anyone you want to be the cosigner, as long as they meet the lenders requirements. Most people choose a relative, partner, or close friend.
If you dont have anyone to ask to be a cosigner, you can apply for a student loan through Ascent or Funding Utwo lenders that dont require cosigners for their student loans.
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Tips For Managing Your Finances
- To ensure you can retire and achieve your other financial goals, you need to be in control of your finances. A financial advisor can help with this. Finding a qualified financial advisor doesnt have to be hard. SmartAssets free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If youre ready to find an advisor who can help you achieve your financial goals, get started now.
- If youre not ready to work with an advisor, creating a stringent budget is a good first step toward mastering your finances. SmartAssets budget calculator can help you start.
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Course Hero $4000 College Giveaway
Course Hero offers ongoing sweepstakes for students to pay off student loan debt. Its a sweepstake with different deadlines. You have to provide study documents for use on Course Hero as part of the entry.
- Eligibility: Open to individuals who are at least eighteen years old, residents of the U.S. or the District of Columbia , and currently enrolled in an accredited U.S. college or university.
- Deadline: End of every month
The Veterinary Medicine Loan Repayment Program
Professionals in the field of veterinary medicine with a Doctor of Veterinary Medicine degree may be eligible for the USDAs Veterinary Medicine Loan Repayment Program.
The program provides aid to qualified borrowers working in an underserved area. These areas are specifically designated by the National Institute of Food and Agriculture as experiencing a high-priority veterinarian shortage. The VMLRP will pay as much as $25,000 per year toward eligible loans if you serve in these shortage areas for at least three years, for a total amount of $75,000.
Its important to note that although this is a federally funded program, each state administers the payments to a select number of borrowers. For example, the North Dakota Veterinarian Loan Repayment Program may pay up to $80,000 to repay educational loans, and only three veterinarians are selected each year.
Check Out:How Much Does It Cost to Go to Vet School?
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Other Health Care Programsdont Give Up Just Yet
Unforeseen medical expenses can definitely wreak havoc for any low-income families already struggling to make meet ends. Fortunately, there are a good number of programs that are designed to help single mothers who need aid in fraying the medical costs of their families.
FINALLY Affordable Healthcare: Hill-Burton Free and Reduced Cost Health Care
The Hill-Burton Free and Reduced Cost Health Care can be availed in several facilities such as nursing homes, hospitals, as well as other healthcare locations. Individuals and families will qualify for this program if they fall within the income guidelines. The help will vary as well as some applicants will be granted a reduced rate while others will be given free healthcare.
To apply and to know more about this program, one should call the organization.
Exhaust Financial Aid Before Borrowing Student Loans For Single Moms Dads
If youve been wondering about how to pay for college, now you know that gift aid can help you get there. And fortunately, you can find opportunities designed for single mothers and fathers, such as scholarships for adults returning to school after starting a family.
Before resorting to student loans, dont forget to apply for grants and scholarships. You might apply for first-generation student scholarships, for example, if youre the first in your family to seek a degree.
When applying for gift aid, find ways you can differentiate yourself on applications. After all, youre more than a single mom or dad. Youre a future college student, too.
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Get Help: Debt Consolidation For Single Mothers
Those who are looking for debt relief for single mothers should consider debt consolidation instead as it allows those with federal student loans to combine all their federal student loans into a single one with an affordable payment scheme. Debt consolidation is a service offered by the U.S. Department of Educations Consolidation Services, free of charge.
Students who have already left college, graduated or have dropped to half-time enrolment are usually qualified for the consolidation of their federal student loans. To apply, interested single mothers should get in touch with the office of the Studentloans.gov or contact the Loan Consolidation Information Center via phone.
Other loan service providers that can help consolidate loans for unemployed single moms with bad credit or those who are merely having difficulty paying their debts. These are as follows:
- VSAC Federal Loans
If Youre A Single Parent Who Wants To Attend College Learn About All The Financial Aid Available To You
Scholarships, grants, and student loans for single parents are available for those who want to attend college.
Many non-traditional college students, like single parents, have trouble paying for higher-education costs. This is often because they historically havent had the same access to scholarships as recent high school graduates.
But now, more options are available to single parents and other non-traditional students pursuing a college degree. Private student loans are one way for single parents to fund their education. Credible lets you compare private student loan rates from multiple lenders, all in one place.
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Title X: The National Family Planning Program #
Title X pronounced Title Ten is the federal program dedicated solely to providing low-income families with comprehensive family planning and related preventive health services.
It provides funding to family planning clinics, so that low-income women who do not have health insurance can get care at reduced rates, or in some cases, free.
Services include but not limited to, breast and pelvic exams, Pap smears and other cancer screenings, HIV testing, pregnancy testing and counseling, and affordable birth control.
For years, Title X, along with Medicaid, has been an important of source of primary health care for millions of women from low-income families.
Get Child Care Assistance Programs
The Child Care Assistance Program or CCAP gets its funding from the Child Care and Development Block Grant. This program is intended to aid low-earning families to fund their childcare while the parent either attends college or search and train for a job. It is handled by the states.
Beneficiaries are required to provide some funds for care for their children according to a progressive fee scale. This means beneficiaries who are earning more would be paying bigger co-payments.
Eligibility rules are not uniform as one state may have guidelines that are different from others. This means that requirements for assistance for single mothers in GA may vary from the on in FL. However, generally, ones income must not exceed the income cap that the state has identified.
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Are You Eligible For Title X: The National Family Planning Program
Title X, which is pronounced as Title Ten is designed to provide comprehensive family planning as well as related preventive health services to low-income families. Title X is a federal program.
This program provides funding for family planning clinics so women with low incomes and cannot even afford cheap insurance for single mothers can avail of health care at either reduced prices or in several cases, free of charge.
Services that single mothers can avail include pelvic and breast exams, cancer screenings, HIV testing, counseling, affordable birth control, and pregnancy testing, among others.
Title X combined with Medicaid has been at the forefront of providing primary health care for millions of women with low income in the US.
Get On The Federal Government Pro Bono Program
Aside from personal grants single mothers, low-income earning single mothers, families, and individuals who require free legal assistance or mentoring services can count on the Federal Government Pro Bono Program.
The program is under the helm of the Department of Justice and consists of roughly 50 federal government agencies participating in the program.
Contrary to popular belief, this program does not offer direct help to individuals in need of free legal advice. Instead, this pro bono program connects lawyers with organizations focused on providing legal services. This means those who are looking for lawyers for a free legal opinion should get in touch with a legal services organization in their areas.
Another reputable free legal assistance group that reputable mothers can turn to is the LSC Legal Aid, a non-profit organization that helps low-income individuals and families with legal assistance and advice.
The LSC services those residing in suburban, urban and rural areas. It prioritizes families with veterans, farmers, children, elderly, disabled individuals and single mothers. Apply for Federal Loan Forgiveness Programs
Single mothers can choose from the following repayment plan:
- Normal Repayment Plan
- Repayment Plan Contingent with Income
- Repayment Plan thats Income-based
- Repayment Plan Based on PAYE Concept
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Getting Help Paying For Water Bills No Problem
Even paying water bills can be quite difficult for low-earning families including those headed by a single mother. Fortunately, some organizations offer single mother grants or discounts to help them and their families pay for their water bills
Aside from government grants for single mothers to pay bills, here are some programs single mothers can check out.
Take Advantage Of Paid Family Leave
In the United States, there are no guarantees that new mothers will be granted paid leaves. The Family and Medical Leave Act mandate guaranteed jobs for 12 weeks but these are unpaid. Plus, employers with less than 50 workers are exempt from following this policy. This is why many just turn to loans for single mother instead.
There are only several states in the US that provide six weeks of paid family leaves to employees so they can either care for a seriously ill family or a newborn baby. These states are Rhode Island, New Jersey, and California.
In New York, the Paid Family Leave Benefits Law states that paid leaves are handed out to employees for eight weeks at half their pay. San Francisco is the lone city in the country that provides guaranteed paid leaves to new parents.
However, one should take note that paid family leaves are income replacement insurance rather than an entitlement.
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Grants For Healthcare Professionals
Healthcare professionals often allocate a higher percentage of their monthly income to student loans than professionals in the law, engineering, and accounting industries.
Although healthcare administrators and nurses with graduate degrees may have less of a student loan burden compared to some of their peers, many borrowers who pursued a degree in healthcare need assistance repaying their loans. Grants are available for a number of healthcare professionals, including licensed nurses, those who work in infertility research, and veterinarians.
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Grants To Pay Off Student Loans For Single Mothers Overview
Grants to pay off student loans for single mothers is essential for mothers and students to continue with their studies. According to Educationdata.org, it is a 1.57 trillion dollar problem that impacts over 40 million people.
However, you may not know that there are various grants to pay off a student loan. Most of these grants are included in the program, as well as a loan forgiveness program that will pay off your students loan debt.
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Assess Your Monthly Payments
If you find that your monthly income is lower than the monthly payments, then you must try to lower your monthly payments. How can you do it?
You can take out a consolidation loan at a lower interest rate to consolidate all the high interest debts into the loan.
You can request your creditor to extend the loan term. Tell your financial hardship and convince the creditor.
Housing Services For Single Mothers
The organization offers emergency help for single moms in finding housing for single parents. Housing for single moms include emergency shelters, transitional housing, temporary lodging, and group homes. It also provides help for homeless single mothers and the needy as well as other social assistance programs.
The organization also occasionally provides free furniture for single mothers along with temporary apartments for single mothers.
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Federal Programs And Benefits For Single Parents
Nothing is more concerning to a single parent to any parent, really than ensuring his or her child has enough food to eat, and that its the proper food. Doing that on a single income can be extremely challenging.
The government has several programs that provide single mother help and single father help. Funding of these programs can be political footballs, but Congress generally retains its commitment to them.
Some programs are based on income, while others come via the school system.
Outright grants are also available based on need. The website singlemothersgrants.org provides a comprehensive list of grants available nationwide. Applications are required, but could be well worth an hours time it takes to fill out. The Single Parents Alliance of America includes a link to check eligibility for programs that may be of help.