Are there any government programs to help reduce student loan debt?

Yes, there are government programs available to help reduce student loan debt in North Carolina. The two main programs are the Federal Student Loan Repayment Assistance Program (also known as the FSBRAP) and the North Carolina Education Loan Repayment Program. The FSBRAP, which is funded by the federal government, helps borrowers make more affordable payments on their student loans. Eligible borrowers must be employed in certain public or nonprofit organizations, and must meet certain income and debt levels. If approved, the program offers to pay up to 70% of the unpaid principal balance of federal student loans. The North Carolina Education Loan Repayment Program provides aid for student loan repayment of up to $2,500 per year for up to four years of repayment. To qualify, borrowers must demonstrate financial need and be employed in a field that serves the public interest, such as teaching or public health. Eligible borrowers can get up to $2,000 in loan repayment assistance per year. Both programs can provide much needed relief for borrowers struggling with student loan payments. However, it is important to note that the terms of each program may vary and that borrowers should research their options thoroughly before applying. Additionally, borrowers should contact their lender or loan servicer to discuss repayment options and repayment plans.

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Are there any government programs to help reduce student loan debt?

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