The premier student loan system was created by the American government to foot tuition fees to help indebted students graduate from the University.
Everyone wishes to send their children to school in this 21st century. As the demand for education rises so is the tuition fees for school also. Colleges or universities need to meet the demands of the students gaining admission hence the rise of tuition fees in colleges of universities.
Many Americans cannot afford the high tuition fees for colleges or universities. This has led those individuals to be in debt while trying to pay for their children’s tuition fees and as a result, the student loan system came to place.
In this article, we would learn how premiere student loan centre loan forgiveness works and how you can be a part of it.
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What is premier student loan?
It is a company established to assist students in debts with special services rendered by the company. Services like loan forgiveness and debt consolidation.
Premiere Student Loan Center
The premiere student loan centre was created in 2014 by a corporate body to assist students clear of their college debts. It offers a variety of services like debt consolidation and loan forgiveness which demands a fee to get its services.
Many people doubt its services as it has been tagged as an illegal business but you must know that there are a number of positive reviews also.
Premiere loan center BBB
The Better Business Bureau (BBB) was created for reviewing companies on how legit their services are by promoting market trust. They intervene when complaints of customers arise.
With the rate of complaints on the services of the premier loan centre, the BBB has not been able to accredit the company. The number of complaints is on the rise as most people have referred to the company as a scam which has tarnished the image of the company.
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Premier loan center closed down
The premiere loan centre has informed the public that they do not intend to take in new customers as they plan on rendering their services to only their existing customers.
It was decided on due to the high-quality services they render to their customers and they do not intend to take in more customers in order to maintain the same quality of services rendered.
What is Forbearance?
The forbearance system allows you to stop payments or make little payments of loan you took then the initial amount you are supposed to pay. It brings a short relief to the individual on loan as you are to pay later.
Does forbearance affect student loan forgiveness?
The answer is quite simple. It does affect student loan forgiveness. The interest of the forbearance system can be paid off while it increases or added up in the initial amount to be paid at the end of the forbearance period. In this case, the loan payment would have increased therefore affecting the student loan forgiveness.
Best repayment plan for student loan forgiveness
A repayment plan is an act whereby payments of loan is paid over a long term period usually on a monthly basis. A 10-year payment plan divides the amount to be paid into 120 level payments to be paid on monthly basis for a period of 10 years. The least payment isn’t more than $50.
There are different plans to choose from for federal student loans. There is the 10-year graduate repayment plan which enables you to pay little by little for a start which tends to increase every two years.
There is also the 25-year repayment plan and one of four income-driven plans that limit payments you make to a percentage of your income earned and help provide forgiveness on the remaining balance after 20 or 25 years.
It is important you choose a repayment plan that best suits you to enable you to pay back without stress.
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Conclusion
The premiere student loan centre loan forgiveness plan was created in 2014 to assist people who struggle to pay for their children’s tuition fees. It is unfortunate that the company has experienced negative reviews that have hindered the accreditation of the BBB. But you must know that the company still operates and have positive reviews also.
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