FREQUENTLY ASKED QUESTIONS
PROCESSING
How does the process work?
How long does the process take?
The documentation process will usually take up to 30-90 days to process depending on the program that you have enrolled for. To speed up the process, please send in any requested documents as soon as possible.
How do I apply?
Give us a call today to speak to a professional for a free no obligation consultation to see if you qualify for any federal relief programs.
Why do I need to be placed on an Admin Forbearance?
You are placed on an admin forbearance so you won’t have to pay your current and old plan while transitioning into your new federal program.
William D. Ford Federal Direct Loan Program
Should I combine my loans?
What student loans can be combined?
When can I combine my loans?
How does combining my loans affect my interest rate?
Can you combine private student loans with federal student loans?
No, a private loan cannot be combine with your federal student loans. It can only be combine with other private loans.
Can I still go to school?
Yes you certainly can. The process will not affect you in any negative way.
When will it reflect on my account?
Usually the loans will reflect as “paid in full” after 45 days when you log onto your student aid portal. In some cases it may take up to 90 days.
How will this affect my credit?
It should help your credit, once all your loans are combined by the U.S Department of Education, your old loans will say paid in full. You will have less unpaid loans and your new loans will be current and up to date.
INCOME DRIVEN REPAYMENT PROGRAMS
What is an income driven repayment plan?
An income-driven repayment plan sets your monthly student loan payment at an amount that is intended to be affordable based on your income and family size, normally you will pay 10-15% of your discretionary income depending on which plan you choose.
What are the available income driven repayment plans?
Why do I have to recertify every year?
Its a mandatory requirement of the program. The recertification is to make sure you still need the program offered to help student loan borrowers that are in financial need.
What happens if I miss a payment?
You can potentially get kicked off the program and reverted back to your old standard plan.
What happens if I get laid off?
Your plan would adjust to your unemployment and your monthly payments will still count towards your term.
When will my loans be forgiven?
Your loans will be forgiven (principle + interest) at the end of your term.
Could my monthly payments change each year?
Yes, your monthly payment could increase or decrease because the program is determined by your family size and income.
PUBLIC SERVICE LOAN FORGIVENESS
What is the public service loan forgiveness?
In 2007, under the William D Ford Act, congress enacted the Public Service Loan Forgiveness program which made federal student loan borrowers who work for a non profit or in a public sector eligible to have the remaining balance on their federal loans forgiven after 120 payments.
Do I qualify for Public Service Loan Forgiveness if I only have FFEL loans?
No, you must first consolidate your loans in a Direct Consolidated loan before you are considered for PSLF. The good news is we can help you with that.
What are some examples of a public service?
DEFAULT
What are the consequences of defaulting?
Your federal student loans are considered in default after 270 days (nine months) of non-payment. Consequences include:
How do I get out of default?
There are 2 solutions to help you get out of default. The first one is a direct loan consolidation, the second solution is a rehabilitation program. Contact our enrollment specialist for more information.
How long does it take to get out of default?
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Alumni Support Center is a specialize company that educates student loan borrowers on government programs and prepare applications for applicants who wish to enroll into the various programs offered through The Department of Education. We will counsel and walk you through your options and help prepare and finalize your documents, depending on which program(s) you choose. Alumni Support Center is not affiliated with Federal, State, or Local Government agencies. Alumni Support Center is not a loan servicer or originator. Consumers with student loan debt have the legal right to use an attorney or process federal student loan services documentation on their own behalf through the Department Of Education.