Are there any government programs that help with student loan debt relief?
Yes, there are government programs that help with student loan debt relief in North Carolina. The federal government offers income-driven repayment plans that can help eligible borrowers lower their monthly payments and have any remaining debt forgiven after 20 to 25 years. The U.S. Department of Education also has available loan forgiveness programs such as the Public Service Loan Forgiveness program and the Teacher Loan Forgiveness program. In addition to federal programs, North Carolina also has some state-specific programs available. The North Carolina Education Assistance Authority provides scholarships and loan repayment assistance to eligible residents who have defaulted on their student loans. The North Carolina Debt Consolidation Program also offers assistance to those who qualify, allowing borrowers to consolidate their student loans and extend their repayment terms. In addition, the North Carolina Access Program provides eligible students with a combination of grants, loans, and work-study options to help them pay for college. Through this program, students who demonstrate need can receive an award package that covers up to 100% of their tuition and fees. Finally, the North Carolina Community College System has several loan repayment assistance programs to help borrowers pay down their student loans. These programs award grants and offer loan repayment assistance to current and former students of North Carolina community colleges who have defaulted on their student loan debt.
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