Washington, D.C. Student Debt Relief Lawyers
Assisting Clients with Substantial Student Loan Debt in Washington, D.C. and Prince George’s County
The cost of higher education has grown so high, many students are forced to take out loans in order to attend college. Unfortunately, this often results in young college graduates entering adulthood with considerable amounts of debt. Currently, the student loan debt crisis has reached unprecedented levels, with some reports that, all told, consumers are approximately $500 million more in debt with student loans than with credit cards.
If you are struggling with substantial student loan debt and you are having trouble keeping up with your payments or seeing a way out, Capital Justice Attorneys, LLP can help. There are options for student debt relief, and our attorneys can help you explore these options to find a solution that fits your unique needs.
Options for Student Loan Debt Relief
There are several student debt relief programs available. The right program for you will depend on your unique situation, including various factors such as your income, the amount of debt you have, the type of student loans you took out, and more.
Some of these student debt relief programs include:
- Income-Driven Student Loan Repayment Plan: This federal program allows you to have your monthly payments reduced if your income falls below a certain threshold. Additionally, if you qualify, you may have your balance forgiven after a period of 20 or 25 years, but you must make all payments on time.
- Loan Consolidation: This is a good option for people with high-interest student loans or those whose income disqualifies them from loan forgiveness programs. By consolidating your loans, you may be able to obtain a lower interest rate, which can reduce your monthly payments and lower the amount of interest you pay over the lifespan of the loan.
- Pay As You Earn and Revised Pay As You Earn (PAYE and RPAYE): Enacted by President Obama, these programs allow qualified student loan borrowers to pay no more than 10% of their monthly discretionary income and makes them eligible for student loan forgiveness in 20 or 25 years if they make all payments on time.
- Career-Driven Loan Forgiveness: Certain career paths offer career-driven loan forgiveness programs that can allow student borrowers to obtain loan forgiveness before the 20 to 25 years of other programs. Typically, this only applies to careers in public service, teaching, the military, medicine, automotive repair, and several other industries.
We Can Help You Find the Right Path to Student Debt Relief
When you are first starting out on your career, the burden of student loan debt can be incredibly overwhelming. At Capital Justice Attorneys, LLP, we believe that young adults shouldn’t have to enter the workforce with crushing debt. While it is not possible to have your debt forgiven entirely, there are options for lowering your monthly payments and making your debt more manageable.
Get in touch with us today for a free initial phone consultation with our Washington, D.C. student debt relief attorneys. We offer payment plans, including $0 down for qualified clients.
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