Bruce Mesnekoff - Public Service Loan Forgiveness Expert

By: Bruce Mesnekoff  02/03/2016
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For college students, the federal student loans they avail of are of big help to their goals of finishing their college studies, but they have to be diligent in their studies also, to be able to actually finish college and avoid later problems, according to the student loan expert Bruce Mesnekoff. They can avoid potential problems, like in the repayments if they are able to actually graduate and get a job afterwards. It is in the repayments that student borrowers are encountering problems, especially if they are not yet into stable jobs and are encountering financial difficulties. For the student borrowers however, they still can avail of some easy ways to get out of their financial burden in making the student loan repayments because there are student loan forgiveness programs they can avail of. These are loan forgiveness programs that are not easy to get however, because as the term suggests that the loan is forgiven and the borrower no longer paying the loan debt, it should be expected that the road to this path is not an easy road to access. The student borrowers are already reaping the benefits of their federal student loans because they graduated, per Bruce Mesnekoff, the student loan expert, thus further sacrifices will not be actually heavy for them. There are loan forgiveness programs that getting qualified for these can mean more sacrifices. There are the teacher loan forgiveness program and public service loan program they can avail of, but both calling for further sacrifices also. For the teacher loan forgiveness program, the borrower should teach full time for five consecutive years in low income communities before actually being qualified, and this is already a big sacrifice especially if the borrower is not used to living in rural places. For the public service loan forgiveness program, the borrower should actually work in a qualified public service organization and should be actually doing the loan repayments for 10 years or already made 120 payments before being considered qualified. This is also a big sacrifice because future career advancement can be hindered due to the requirement of10 years of actually working in a public service organization. After the 10 years, the borrower can already be qualified for the remaining federal student loan balance to be forgiven. The federal student loans are the beneficial kinds of financial aid that students can avail of and they should be proud that they are able to finish college, such that they have to treat the student loans as actually loan debts that should be paid, per Bruce Mesnekoff. However, if they really have difficulties in making this because of some difficulties, they can look at other options. Like the loan forgiveness programs, but they should also ask themselves if they can make the sacrifices. These are not easy tasks but also achievable, if they are willing to make and accept the sacrifices that go with these forgiveness programs. To be able to qualify for this public service loan forgiveness program, the borrower should be in an accepted and qualified repayment program and actually doing the repayments. For the borrower to be actually qualified, paperwork and documents have to be made and submitted yearly, and this is to support the qualification process. The borrower has benefitted from the federal student loans and actually got the career after graduation, thus should be grateful and can be worth the further sacrifices, per Bruce Mesnekoff.The sacrifice will not also be a farther heavy load because the federal student loan balance will not be paid anymore. For the student borrower thus, the federal student loans should be those to be the priority because of the many options they can have when it is repayment time, like the loan forgiveness they can avail of, per the student loan expert Bruce Mesnekoff.

Keywords: Bruce Mesnekoff

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