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Education is one of the most important things to have, but sometimes, due to financial constraints, the education we want eludes us. Not being able to afford that course or being unable to manage the cost of the books, boarding etc., can put a dampener on our dreams. That is where the concept of student loans enters where it is important to finds the best college loans with affordable student loan rates. One can also choose to apply for student loans without a cosigner. However, you must carefully look into what you’d be dealing with when signing up for college loans with no cosigner.

These student loans can also be forgiven in various ways. There are some debt relief companies that promise to get rid of your debt but they would also charge high upfront fees from the borrowers who are already struggling to get rid of a loan. There are various government methods which can be applied to free of cost and will also help in having this debt discharged. However, in order to qualify for your debt being forgiven, the kind of loan you have applied to should be a federal loan.

There are various programs for student loan forgiveness. Borrowers who are enrolled in an income driven repayment plan will be given a time of 20 years for undergraduate debt and 25 years for graduate debt for forgiveness. Government and not-for-profit workers will be given a time of 10 years for forgiveness. Full time teachers who work in a low-income public school for at least five years would be eligible for a forgiveness of 5 years. And finally, the borrowers who have taken a Perkins loan and have worked in an eligible public service job for at least one year will be eligible for a forgiveness of 5 years. One can check which plan they would be eligible for and act accordingly in order to be able to receive student loan forgiveness.