About Grads1st

Student debt is a major financial burden for many Americans. Studies reveal that 25% of all people living in the United States owe money on student loans. That adds up to more than 1.3 trillion dollars in outstanding debt. That figure is higher than total credit card debt and home mortgage debt is the only figure higher than that in the US. Review the debt repayment programs Grads1st offers in association with the Department of Education to determine which programs you qualify for and to fill out the appropriate applications. You will receive a repayment plan after your loans are consolidated. Payments depend on household income and family size. If you are in default with your loan and payments are being garnished from your wages, we will stop the garnishment by contacting the collection agency immediately. We will create a rehabilitation plan based on your ability to pay that will return your loan to current status. This action helps restore or build your credit score in addition to stopping any wage garnishment. We will work with the collection agency on your behalf to negotiate an affordable rehabilitation plan that will take your loan out of default. The plan will prevent negative information contributing to your credit score and stop your wages from being garnished. Our financial experts prepare your consolidation application and submit it to the appropriate entity. We will provide all supplemental information and place you in a program that saves you money. We keep working until you receive an approved repayment plan. We offer a range of repayment plans. We will factor in your financial situation, the status of your loan, family size and loan type to match you with a program that best suits your individual needs. We will assess your eligibility for various forgiveness programs. These include programs for Public Service Loans, Total Permanent Disability Loans and Teacher Loans. Some programs cap payments at 10 percent of the applicant's discretionary income for a maximum of 240 months. The remaining balance at the end of the loan term is forgiven. You make a fixed payment every month until the debt is paid within 10 years. Your payment may be limited to 15 percent of discretionary income for a maximum of 300 months. The remaining balance is forgiven after the term ends. Some programs start with low payments that increase every 24 months. This program is for you if you expect your income to grow steadily every year. Your payment may represent 20