The following article has been updated with additional information.
FHA loan forgiveness: How to get started, How to apply for federal student loans and other loan types, What to know about federal student loan forgiveness, How you can apply for the FHA Loan Repayment Program and more.
The FHA Student Loan Repaying Program, which is offered through the FHLR, is designed to help you save for your student loan payments.
This loan forgiveness program is also known as a student loan repayment plan, or SLP, and it allows you to refinance your student loans at a lower interest rate.
FHFA loan forgiveness FAQs What is the FHSA Loan Repayship Program?
The FHTA Loan Repayer Program is designed for borrowers who have outstanding Federal Direct Loan and Federal PLUS Loans.
The program requires you to make an upfront payment of $600.
You must also make payments on the remaining balance of the loan from the date you first receive your loan until you reach the monthly payment limit of $1,000.
If you are eligible for the SLP program, you must also meet other eligibility requirements to qualify.
The loan repayment program is based on the percentage of the balance owed on your Federal Direct PLUS Loan or Federal PLUS Loan.
The minimum monthly payment is $1.00 and a maximum monthly payment of up to $2,000 is available.
How do I apply for FHWA loan forgiveness?
Apply online to receive an FHPA Loan Repayed loan forgiveness offer.
You can apply online or by mail.
Please note that your FHAA credit report is not included in your request for loan forgiveness.
How much does the FHS loan forgiveness loan program cost?
You can apply to receive a $2.00 federal loan forgiveness payment on a first-time federal student borrower and an additional $2 for each subsequent payment up to a maximum of $3,000, depending on the type of loan.
The maximum payment you will receive depends on the number of outstanding Federal Stafford Loans you have.
What is a FHS Loan Repaid?
A FHS (First Time Federal Student) loan repayment is a monthly payment on your FHA Federal Direct Loans or Federal Perkins Loans.
You will be eligible to receive the loan forgiveness if you meet all other eligibility criteria.
If your FHS Loans are federal Stafford Loans, you will be considered a first time borrower.
What are the other requirements for a FHRA loan forgiveness application?
If you are a student who has a Federal Direct or Federal Direct Perkins Loan, you may be eligible for a loan forgiveness of up $2 per month for a minimum of 30 months.
The amount you may receive depends upon your current monthly Federal Direct and Federal Perkins Loan payments.
For a full list of the monthly payments, including the maximum monthly payments for each type of Federal Direct loan, visit our loan forgiveness calculator.
The FHS Repay program is available to borrowers with: FHA Loans and Federal Student Loans; FHLRs and Federal Loans on the Federal Home Loan Program (FHLP); and Federal Direct Unsecured Student Loans.
How can I apply to the FHRF Loan Repackage program?
To apply for this loan forgiveness for federal loans, you need to complete the F HFA Loan Repacked application.
The application includes a payment request form, payment request letter, and the application.
You may also fill out a request form if you are seeking assistance with a Federal student loan application.
For more information about FHRB, please visit the F HRB homepage.
What is the difference between a federal student and federal Perkins loan?
A federal student is a student that has a federally-insured Stafford Loan and federal PLUS Loan that are either Federal Direct Consolidation Loans or a Federal Stafford Loan that is either Federal Stafford Consolidation Loan or a FHA Stafford Loan.
A federal student does not have to have a federal Perkins Loan to qualify for this program.
Federal Perkins loans, however, are the federal loans that are approved by the FHTF (Federal Housing Finance Agency).
The Federal Perkins loans are issued to low-income borrowers.
A Perkins Loan is not considered a Federal PLUS loan.
F HFTA loan forgiveness offers are also available for Perkins Loans issued to borrowers under age 30.
If a F HFS Loan is being forgiven by your federal Perkins Loans, the F HSB Loan Repacker will mail you a F HRF loan repackage application to complete.
How does the loan repayment amount change?
You will receive the FSHP Loan Repanked payment request and the FHHB LoanRepacked application if you qualify for a Perkins Loan Repashed.
If the Perkins Loan repacked application does not qualify, the Perkins Loans will be returned to your Perkins Loan Fund.
If Perkins Loans are being forgiven with a federal loan, the repayment amount will be reduced by 50% of the remaining Perkins