Kansas Student Loan Forgiveness

Kansas Student Loan Forgiveness (KSLF) is a state public service program administered by the State Treasurer’s office. KSLF was created to assist low-income individuals who have student loans by providing them with reduced loan rates and extended repayment terms.

Under the federal William D. Ford Federal Direct Loan Program, private lenders provide financial assistance to eligible college students at no profit or cost to borrowers. The Department of Education provides funds to lenders to make these loans. However, they do not guarantee the performance of either the borrower or lender. As long as the school maintains eligibility requirements, the Dept. of Education pays off the debt upon graduation or leaving school.

Borrowers may qualify for forgiveness if their monthly payment does not exceed 12% of discretionary income. This income threshold varies based on the borrower’s family size.

In 2012, the average amount forgiven nationwide was $17,300 (CFPB). Of those borrowers, the majority were from California (30%), followed by Ohio (18%) and Pennsylvania (14%).

For those who meet the criteria, the Kansas Student Loan Forgiveness program requires borrowers to file a request before the completion of each year while enrolled in school. If they complete the program before graduating, they’re eligible for full forgiveness after 10 years of payments.

Kansas Student Loan Forgiveness

For those who qualify, the government offers student loan forgiveness based on financial need. A majority of private lenders do not offer similar programs, making public service programs like these extremely valuable for borrowers.

Kansas Student Loan Forgiveness

What is student loan forgiveness?

Student loan forgiveness means getting rid of that crushing burden of debt. You may have heard about federal student loan forgiveness, but did you know there’s state-level student loan forgiveness too? In Kansas, you can get forgiven if you work at certain jobs. If you’re looking to take the next step toward paying off your own loans, it might make sense to find out what types of jobs qualify you for student loan forgiveness—even state-level student loan forgiveness!

Do I need to be employed to apply?

NoWhile employers may prefer students who have completed their education, they don’t have any requirements to hire them. So, whether you’re currently working or not, you still have options.

How much money do I need to earn?

You’ll need to make $20,000 per year while working at least 80 hours and maintaining a 2.0 GPA.

Am I eligible for student loan forgiveness in Kansas?

Yes! But it does depend on how long you’ve worked at your current job and where you live. 5. Can I still be eligible after taking time off?

Yes. There is no minimum amount of time between employment and applying. As long as you meet the requirements above, you should continue to be eligible.

Kansas Student Loan Forgiveness

“The website provides information about student loan forgiveness programs offered by the U.S. Department of Education.”

Author: United States Federal Government

Date: 2020-09-02

The US government, the US government

Kansas Student Loan Forgiveness

What is Kansas Student Loan Forgiveness?

The first step towards student loan forgiveness is completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is completed every year by students who wish to apply for financial aid. If approved, the Department of Education will then calculate how much of the student’s loans they will forgive based on information provided on the FAFSA.

How do I know if I am eligible?

If you meet any of the following criteria, you may qualify for student loan forgiveness.

Your loans were incurred before July 1, 2007.

You have at least half-time enrollment at an eligible educational institution.

Your school(s) closed after 2010.

You are enrolled at an eligible postsecondary vocational/technical school.

You are permanently disabled due to illness or injury.

Your family meets the income requirements.

You should file your FAFSA early to ensure your application is complete. The sooner you submit your FAFSA, the higher the chance you have of qualifying for student loan forgiveness. To help you get started, we’ve created a quick guide to filing your FAFSA.

When does my FAFSA deadline fall?

Your FAFSA is due February 1st. If you miss the February 1st FAFSA submission deadline, you’ll need to pay a late fee and begin working on the FAFSA again.

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