Keiser University offers career-focused education at their 30+ campuses across Florida and online. For many students, financial aid and student loans make it possible to attend. Does Keiser University offer any student loan forgiveness programs to help reduce debt burdens after college? This guide examines the possibilities.
Overview of Student Loan Forgiveness
Student loan forgiveness programs, offered by the federal government and some private lenders, help cancel all or part of student loan balances after meeting certain criteria, such as:
- Working in public service or non-profit jobs
- Teaching in low-income school districts
- Practicing medicine in rural or underserved areas
- Meeting income-driven repayment requirements
Loan forgiveness provides relief for qualifying student borrowers with their remaining balances.
Federal Loan Forgiveness Options
Keiser University students who used federal Direct Loans have access to federal student loan forgiveness programs, including:
- Public Service Loan Forgiveness (PSLF) – Cancels balances after 120 payments while working for government or qualifying non-profits.
- Teacher Loan Forgiveness – Up to $17,500 forgiveness for teaching 5 years in low-income schools and meeting other requirements.
- Income-Driven Repayment (IDR) Forgiveness – Cancels remaining balances after 20-25 years of payments on IDR plans.
These programs apply to Keiser students with federal loans as with graduates from any program.
Keiser University Loan Forgiveness Programs
Unfortunately, Keiser University itself does not offer any specific institutional student loan forgiveness programs. Loan forgiveness is only available through federal options.
Keiser encourages students to minimize borrowing by setting program length and costs upfront. They also offer robust career support to maximize employment and income after graduation.
Optimizing Federal Loan Forgiveness
Here are some tips for Keiser University students and grads to maximize federal loan forgiveness opportunities:
- Consolidate FFELP loans into Direct Loans to qualify for PSLF.
- Find a PSLF-eligible employer like government or a 501(c)(3) non-profit.
- Enroll in an income-driven repayment plan before PSLF.
- Submit Employment Certification Forms annually for PSLF.
- Teach STEM or special education for maximum Teacher Loan Forgiveness.
- Recertify income annually for IDR plans.
- Review forgiveness timelines to plan properly.
Keiser financial aid advisors can provide guidance on optimizing federal programs.
Private Student Loan Forgiveness
Most Keiser students rely on federal student loans based on financial aid eligibility. However, some may also use private student loans. Unfortunately, private lenders rarely offer forgiveness options. Forgiveness for private loans is limited to:
- Refinancing and getting forbearance/deferment when facing financial hardship
- Some disability discharge options
- Death discharges
Private lending should be a last resort when all federal aid is exhausted given the lack of flexible repayment.
Creating Manageable Student Loan Payments
Since Keiser University does not directly offer loan forgiveness, it’s critical for students to borrow prudently and create manageable loan payments after school. Ways to do this include:
- Minimizing loans by working during school or living at home
- Paying interest during school to reduce capitalization
- Signing up for auto-debit interest rate reductions
- Sticking to federal loan limits and avoiding private loans
- Using Keiser career assistance to maximize employability and income
Living frugally after college and prioritizing student loan payments can help reduce the burden.
While Keiser University unfortunately does not have its own loan forgiveness programs, students can take advantage of federal options based on their career and repayment plan. By being strategic about borrowing, graduates can mitigate reliance on potential forgiveness. The best approach is borrowing only what is truly needed.