Students walk near the Sather Gate on the UC Berkeley campus in Berkeley, Calif.As many as 300,000 Californians have until June 30 to take advantage of a one-time offer to qualify for faster student loan forgiveness, lower monthly payments or outright forgiveness for federal loans borrowed before 2010.
To meet the June 30 deadline, borrowers must submit applications to consolidate their loans into so-called direct consolidation loans. Only loans in the direct program are eligible for loan forgiveness after 10 or 20 years of payments, depending on a borrower’s employment situation. Direct loans also qualify for lower monthly payments.
Between March 20 and May 1, Damian communicated by phone or email with 1,400 borrowers after her office sent an email to Californians who’d likely benefit from loan consolidation. Several times borrowers nearly gave up trying to apply, so she told them to complete the paper version of the application and email her photos of their paperwork. She then collated their photos into a PDF document and submitted the paperwork to the U.S. Department of Education on their behalf.Cal State University recommends integrating Cal Maritime, Cal Poly San Luis Obispo
These loans are also ineligible for Public Service Loan Forgiveness, a loan program for government and nonprofit workers that forgives federal undergraduate and graduate student loan debt after 10 years of payments. The only way to qualify for that loan forgiveness is by repaying direct loans — which borrowers with Federal Family Education Loans can do if they consolidate by June 30.
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