FAQ
Be Informed
It’s important to us that our clients feel fully informed and confident when working with us. That’s why we’ve made an extensive list of past clients’ questions along with answers from our experienced team. Browse through the information below, and if you have a question that isn’t included here, feel free to reach out to us today.
WILL STUDENT DEBT BE CANCELLED?
The short answer is, very unlikely. The law was written specifically to protect tax payers money and the banks that back these loans for borrowers. Here is a link from Forbes Magazine with more details. Full Forbes article.
AM I ELIGIBLE FOR PUBLIC SERVICE STUDENT LOAN FORGIVENESS?
You may be eligible, if you are employed Full Time by one of the following:
State and Federal Employees, Teachers, Public Fire Safety, School Based Services, Library Services, Children and Family Services, Military, Law Enforcement, Public Safety, Emergency Management, Public & Civil Services and more.
HOW DO I KNOW THAT TITLE 4 SOLUTIONS IS THE RIGHT CONSULTING AGENCY FOR ME?
With any industry there are good and bad organizations. We are GREAT. Not only do we have over 20 years of experience in the Student Loan business but we will give you all your options for free, up front. If there is no benefit to you, we will tell you, not deceive you.
CAN I REDUCE MY MONTHLY PAYMENT?
In many cases, yes you can. Most Income Driven Repayment Plans are based on your disposable income, family size and sometimes the loan amount.
I'M NOT IN PUBLIC SERVICE. DO I QUALIFY FOR PUBLIC SERVICE LOAN FORGIVENESS PROGRAMS?
While you would not qualify for Public Service Loan Forgiveness, there are other programs you can utilize available to you and in many cases, you can reduce your monthly payment and/or loan term.
I DON'T KNOW HOW MUCH I OWE. WHERE DO I FIND OUT?
You can access this information on the Federal Student Aid website via the National Student Loan Data System. (www.nslds.ed.gov)
We recommend having one of our loan counselors help you with this step if you are not familiar with it. It can be tricky to use if you don't remember setting up your initial username or password, or don't yet have one, and it can be easy to lock yourself out of your account; and difficult to get it unlocked.
I CAN'T AFFORD MY STUDENT LOAN PAYMENTS! WHAT SHOULD I DO?
Contact us soon!
Believe it or not, the fees and penalties of defaulting on Student Loan obligations can be more costly than actually making the monthly payment.
You may have options available to place your loans on hold while we work to get you into the loan forgiveness program, or repayment plan that best fits your needs.
SHOULD I CONSOLIDATE?
Title 4 Solutions doesn't recommend consolidating your loans in all situations.
Although this is a common solution to reducing high monthly payments, consolidating when you shouldn't can reduce your savings on certain programs, or even eliminate your options for loan forgiveness all together.
Educate yourself before doing this, or speak to one of our loan counselors for help.
SHOULD I REFINANCE MY LOANS WITH A PRIVATE FINANCIAL INSTITUTION?
Private Student Loans do not qualify for Federal Student Loan Forgiveness, or for Income Driven Repayment Plans, and you will usually not have Forbearance options either.
Title IV Solutions recommends educating yourself on what the best option is for your situation. Usually this is not refinancing with a private lender.
Loan forgiveness and forbearance, aside; it is much easier to default with a private financial institution, and generally; much harder to clear the default.
I HAVE HEARD THAT YOU SHOULDN'T HIRE A 3RD PARTY COMPANY TO DO THIS. IS THIS TRUE?
You have to first understand that even government contracted servicers are 3rd party private companies. They just have a contract with the Department of Education to manage Federal Student Borrowers debt. They get paid by the government a small amount per month per borrower they manage. This is sometimes a low as $2 per month!
This industry has good and bad companies as with any industry. Just make sure you choose to use one that you can trust.
MY LOANS ARE IN DEFAULT. WHAT CAN I DO ABOUT IT?
Having your Student Loans in default is a very serious situation. Your account will transferred to a 3rd part collection agency who gets to collect on THEIR fees first. This is sometimes a 25% penalty on your total loan balance! However, there are ways to get out of default that include consolidation, short term payment plans, and the Fresh Start Program, available for a limited time.
I'M CLUELESS ABOUT WHAT IS HAPPENING WITH STUDENT LOANS RIGHT NOW CAN YOU HELP?
It seems like every month the DOE announces another change to Federal Student Debt and borrowers heads are spinning. That's where we come in! Title 4 Solutions is always ahead of the game and our research team checks for updates through out each day. This what we do, so you don't have to.