Keiser University is a private university in Florida, United States, offering a range of undergraduate and graduate degree programs in various fields. Like many other universities, Keiser University provides financial aid to its students in the form of loans.
In some cases, students may find it challenging to repay their loans, leading to financial difficulties. To help alleviate this burden, Keiser University offers a loan forgiveness program to its eligible students.
What is the Keiser University Loan Forgiveness Program?
The Keiser University Loan Forgiveness Program is a program that enables eligible Keiser University students to have their federal student loans forgiven or discharged. The program is designed to help students who are experiencing financial difficulties due to their student loans. Students who are struggling to repay their loans may be eligible for loan forgiveness under certain circumstances.
To be eligible for loan forgiveness under the Keiser University Loan Forgiveness Program, students must meet the following criteria:
- They must have taken out federal student loans to attend Keiser University.
- They must have completed their degree program at Keiser University.
- They must be experiencing financial difficulties, such as unemployment, low income, or disability.
- They must have made a good faith effort to repay their loans.
- They must not be in default on their loans.
Types of Loan Forgiveness
There are different types of loan forgiveness available under the Keiser University Loan Forgiveness Program. These include:
- Public Service Loan Forgiveness (PSLF): This program forgives the remaining balance on eligible Direct Loans after the borrower has made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.
- Teacher Loan Forgiveness: This program forgives up to $17,500 in Direct or FFEL Subsidized or Unsubsidized Loans after the borrower has completed five complete and consecutive academic years of teaching in a low-income elementary school, secondary school, or educational service agency.
- Disability Discharge: This program forgives the remaining balance on eligible Direct Loans and FFEL Program loans after the borrower has received a determination of total and permanent disability from a physician.
- Closed School Discharge: This program forgives the remaining balance on eligible Direct Loans, FFEL Program loans, and Federal Perkins Loans if the borrower’s school closes while the borrower is enrolled or within 120 days after the borrower withdraws.
How to Apply for Loan Forgiveness
To apply for loan forgiveness under the Keiser University Loan Forgiveness Program, students must follow these steps:
- Contact the Keiser University financial aid office to determine their eligibility for loan forgiveness.
- Complete the necessary application forms and submit them to the appropriate loan servicer.
- Continue to make payments on their loans until they receive confirmation of loan forgiveness.
It’s important to note that loan forgiveness is not guaranteed and that each case is evaluated on a case-by-case basis. Students should also be aware that loan forgiveness may have tax implications, and they should consult a tax professional before applying for loan forgiveness.
The Keiser University Loan Forgiveness Program is designed to help eligible students who are experiencing financial difficulties due to their federal student loans. The program offers several types of loan forgiveness, including Public Service Loan Forgiveness, Teacher Loan Forgiveness, Disability Discharge, and Closed School Discharge. Students who are considering applying for loan forgiveness should contact the Keiser University financial aid office for more information and guidance.