Programs

Student Loan Relief combines existing Federal, State, and Local legislation into packages due to similar types of people consistently qualifying for similar groupings of programs.  To make them both easier to remember and say we have given the aforementioned packages names, which according to Jason Spencer Student Loan, are as follows;

 

  • SLR1 – Student Loan Relief Simple Plan

    The Student Loan Relief Simple Plan is just what its name makes it out to be, simple. You will have a fixed monthly payment and you will usually pay off your loan within ten years. With the Student Loan Relief Simple Plan, your monthly payment will be more than it would be under the other plans but your overall payback is much smaller. This is due to the fact that you will pay off your loan relatively quickly, within ten years. This plan is good for those that can handle the payment and want the debt off them as quickly as possible. This plan will typically allow you to significantly reduce your interest rate and reduce your overall payback and loan balance, depending on a number of other variables unique to each individual.

  • SLR2 – Student Loan Relief Extended Plan

    Maybe you can’t afford to pay such a high monthly cost to repay your loans, or maybe you don’t want the pressure of paying off your loan in ten years. The Student Loan Relief Extended Plan can extend your loan length to up to 30 years. It will then work like a credit card payment, you will have a minimum balance each month and you will choose how much to pay. If you pay the minimum each month it will probably take you 30 years to repay the loan. There is no pressure and you can go at your own, leisurely pace. An SLR Consultant can assist you with a myriad of payment options and maintain maximum flexibility during the life of the loan. This plan also contains a number of variables that will allow for the forgiveness of some or all of your loan balance.

  • SLR3 – Student Loan Relief Career Progression Plan

    Sometimes big problems require creative solutions, thus the Student Loan Relief Career Progression Plan was created to evolve alongside your career. As you progress in your career, and your income rises, so will your payment. This allows for a very low payment initially, when incomes are often at their lowest. Your monthly payments will start out low but then increase every couple of years. This is a good plan if you expect your income to increase over the years. You can start out paying low when your income is going to be low and by the time the monthly payments get really high, your income will be higher and allow you to compensate for such high payments. Reduced interest rates and reduction of your loan balance are also available with this plan, but they are contingent upon a number of unique variables that are dependent on your unique situation.

  • SLR4 – Student Loan Relief Freedom Plan

    The Student Loan Relief Freedom Plan was created to free borrowers from the chains that bind them to a situation they don’t deserve to be in. The plan takes into consideration a number of variables that essentially provides relief to those that truly need it. This is the most powerful plan we have created to date and combines a lower interest rate, lower payment, and a substantial amount of loan forgiveness.

  • SLR5 – Student Loan Relief Rescue Plan

    SLR5 plan is a new repayment plan for the major types of federal loans made to students. Under Student Loan Relief Rescue Plan, the required monthly payment is capped at an amount that is intended to be affordable based on income and family size. You are eligible for Student Loan Relief Rescue Plan if the monthly repayment amount under the SLR Rescue Plan will be less than the monthly amount calculated under the Student Loan Relief Basic Simple Plan. This plan contains a number of the more recent Congressional Bills that produce some of the largest amounts of principal forgiveness.

  • SLR6 – Student Loan Relief Educators Forgiveness Plan

    The Student Loan Relief Educators Forgiveness Plan is a combination of four Federally created and funded Student Loan Forgiveness & Relief Programs, as well as 92 available State Programs available to residents of their respective states. This is the plan that offers the widest range and most robust options to a segment of significant size and its difficult to disagree with offering rewards to those that give up so much to promote the success of so many. This plan is of great benefit to Teachers and School Administrators.

  • SLR7 – Student Loan Relief Angel Plan

    The Student Loan Relief Angel Plan includes vast and wide array of Student Loan Relief & Forgiveness Programs created to both assist and reward those that dedicate their lives to the betterment of the less-fortunate. This includes Social Workers, Police Officers, Fire-Fighters, Our Military Men & Women, Charitable Workers, and Postal Workers.

  • SLR8 – Student Loan Relief Single Mother’s Plan

    The Student Loan Relief Single Mother’s Plan is a collection of various State, Federal and Private Student Loan Relief and Forgiveness Programs created to assist those that truly have the most difficult job in the world with furthering their education as well as a small reward for accomplishing the amazing feat of graduating while managing a family on their own.

Get Student Loan Updates To See If The Bill Passes

—–Select Loan Bill—–S. 897 (Bank on Students Loan Fairness Act).(Federal Student Loan Refinancing Act)S.(Federal Student Loan Refinancing Act)S.114 (Fairness for Struggling Students Act of 2013)S. 1068 (Private Student Loan Debt Swap Act of 2011)S. 2733 (Private Education Loan Ombudsman Act)S. 3281 (Forgiveness and Repayment Assistance Act of 2010)H.R. 1979 (Bank on Students Loan Fairness Act)H.R.(Student Borrower Bill of Rights Act)H.R. 4170 (Student Loan Forgiveness Act of 2012)H.R. 953 (Make College Affordable Act of 2011)H.R. 5055 (College Debt Swap Act of 2010)H.R. 3149 (Equal Employment for All Act)H.R. 4834 (Student Debt Reduction Act)H.R. 4574 (Student Loan Interest Full Deductibility Act)

 

 

Congressional Bills Currently Pending:

  • S. 897 (Bank on Students Loan Fairness Act)

    Elizabeth Warren’s bill to give student loan borrowers the same interest rate as ‘Too Big To Fail’ banks.

    Status: 5/8/2013 – Referred to Senate Committee on Health, Education, Labor, and Pension

    Summary: A bill to prevent the doubling of the interest rate for Federal subsidized student loans for the 2013-2014 academic year by providing funds for such loans through the Federal Reserve System, to ensure that such loans are available at interest rates that are equivalent to the interest rates at which the Federal Government provides loans to banks through the discount window operated by the Federal Reserve System, and for other purposes.

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    Status: Referred to Committee (May 8, 2013)

    This bill was assigned to a congressional committee on May 8, 2013, which will consider it before possibly sending it on to the House or Senate as a whole. The majority of bills never make it past this point.

    View a Copy of the Proposed Legislation Here

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    Elizabeth Warren’s bill to give student loan borrowers the same interest rate as ‘Too Big To Fail’ banks.

    Status: 5/8/2013 – Referred to Senate Committee on Health, Education, Labor, and Pensio

    Summary: A bill to prevent the doubling of the interest rate for Federal subsidized student loans for the 2013-2014 academic year by providing funds for such loans through the Federal Reserve System, to ensure that such loans are available at interest rates that are equivalent to the interest rates at which the Federal Government provides loans to banks through the discount window operated by the Federal Reserve System, and for other purposes.

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    Status: Referred to Committee (May 8, 2013)

    This bill was assigned to a congressional committee on May 8, 2013, which will consider it before possibly sending it on to the House or Senate as a whole. The majority of bills never make it past this point.

    View a Copy of the Proposed Legislation Here

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  • S.(Federal Student Loan Refinancing Act)

    Dept. of Ed. FFELP and Direct Loans carrying interest rates above 4% would automatically change into fixed 4% loans. Status: 5/19/2013 – Announced by the Sponsor Senator Kirsten Gillibrand.

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  • S.(Federal Student Loan Refinancing Act)

    Authorize the Department of the Treasury to create opportunities for private student loan borrowers to take advantage of the current low interest rates will ensure that borrowers pay rates that reflect their credit risk so that they may pursue economically productive activities like buying a home or starting a small business.

    Status: 7/1/2013 – Announced by the Sponsor Senator Sherrod Brown

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  • S.114 (Fairness for Struggling Students Act of 2013)

    Only in 2005, one year after Sallie Mae became 100% private, did private student loans suddenly get protected from consumer bankruptcy laws. This is not the best solution since it would encourage people to borrow during college and then declare bankruptcy upon graduation, but it would be better than not acting on the problem. Fomerly S. 3219 (Private Student Loan Bankruptcy Fairness Act of 2010) which got stuck in the Senate Committee on the Judiciary and then S. 1102 (Private Student Loan Bankruptcy Fairness Act of 2011) which also died in the same committee.

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    Summary:

    A bill to amend title 11, United States Code, with respect to certain exceptions to discharge in bankruptcy.

    Status:

    Referred to Committee (Jan 23, 2013)

    This bill was assigned to a congressional committee on January 23, 2013, which will consider it before possibly sending it on to the House or Senate as a whole. The majority of bills never make it past this point.

    View a Copy of the Proposed Legislation Here

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  • S. 1068 (Private Student Loan Debt Swap Act of 2011)

    slide This is Senator Brown’s (D-OH) bill. It’s way better than the bankruptcy versions below since it wouldn’t severely negatively affect our credit score. Formerly S. 1541 (Private Student Loan Debt Swap Act of 2009) which got stuck in Senate Committee on Health, Education, Labor, and Pensions.

    Status: 5/25/2011 – Referred to Senate Committee on Health, Education, Labor, and Pensions.

    Summary: A bill to amend the Higher Education Act of 1965 to provide for temporary student loan debt conversion authority.

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    Status:Died (May 25, 2011)

    This bill was introduced on May 25, 2011, in a previous session of Congress, but was not passed.

    View a Copy of the Proposed Legislation Here

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  • S. 2733 (Private Education Loan Ombudsman Act)

    This is Senator Brown’s (D-OH) bill. It’s a good step towards holding Sallie Mae’s despicable practices accountable.

    Status: 11/5/2009 – Stuck in Senate Committee on Health, Education, Labor, and Pensions.

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  • S. 3281 (Forgiveness and Repayment Assistance Act of 2010)

    Lowers payment amounts from 10% to 7% for the Federal Direct income-based repayment plans and lowers forgiveness from 20 years to 15 years for 2014+ students only.

    Status: 4/29/2010 – Stuck in Senate Committee on Health, Education, Labor, and Pensions.

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House Bills

 

  • H.R. 1979 (Bank on Students Loan Fairness Act)

    Summary: To prevent the doubling of the interest rate for Federal subsidized student loans for the 2013-2014 academic year by providing funds for such loans through the Federal Reserve System, to ensure that such loans are available at interest rates that are equivalent to the interest rates at which the Federal Government provides loans to banks through the discount window operated by the Federal Reserve System, and for other purposes.

    Read More

    Status: Referred to House Education and the Workforce (May 14, 2013)

    This bill was assigned to a congressional committee on May 14, 2013, which will consider it before possibly sending it on to the House or Senate as a whole. The majority of bills never make it past this point.

    View a Copy of the Proposed Legislation Here

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  • H.R.(Student Borrower Bill of Rights Act)

    Being considered for re-introduction.

    Status: 2008 – Stuck, possibly in Committee, in 2006 and again in 2008.

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  • H.R. 4170 (Student Loan Forgiveness Act of 2012)

    The “10/10″ plan. Repayment capped at 10% disposable income, remainder forgiven after 10 years. New borrowers after bill passed will only be able to have first $45,520 forgiven to prevent “moral hazard.” Old borrowers are safe. Reduces public service forgiveness to 5 years. 3.4% cap on all new Fed loans including the private loans you can now consolidate with the Fed.

    Status: 5/26/2011 – Referred to House Committee on Education and the Workforce.

    Summary: To increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on Federal student loans, and refinancing opportunities for private borrowers, and for other purposes.

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    The Student Loan Forgiveness Act (H.R. 4170) was introduced in the 112th Congress, which has adjourned. It has not yet been reintroduced.

    Status: Died (Mar 8, 2012)

    This bill was introduced on March 8, 2012, in a previous session of Congress, but was not passed.

    View a Copy of the Proposed Legislation Here

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  • H.R. 953 (Make College Affordable Act of 2011)

    Ron Paul’s plan to make higher education more affordable by providing a full tax deduction for higher education expenses and interest on student loans.

    Status: 3/8/2011 – Referred to House Committee on Ways and Means.

    Summary: To amend the Internal Revenue Code of 1986 to make higher education more affordable by providing a full tax deduction for higher education expenses and interest on student loans.

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  • H.R. 953 was introduced in the 112th Congress, which has adjourned. It has not yet been reintroduced.

    Status: Died (Mar 8, 2011)

    This bill was introduced on March 8, 2011, in a previous session of Congress, but was not passed.

    View a Copy of the Proposed Legislation Here

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  • H.R. 5055 (College Debt Swap Act of 2010)

    House version of Brown’s S. 1541. The “adverse credit history” clause is worrying. If we can’t pay the private student loans now, hence the reason for this bill, we’re going to have adverse credit history.

    Status: 4/30/2010 – In process. Currently in House Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.

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  • H.R. 3149 (Equal Employment for All Act)

    Safeguards student loan debtors by preventing employers from making decisions based on credit scores.

    Status: 9/23/2010 – Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

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  • H.R. 4834 (Student Debt Reduction Act)

    Extends 2014+ repayment terms and repayment amounts to all Federal Direct customers.

    Status: 4/30/2010 – In process. Currently in House Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.

  • H.R. 5078 (Higher Education Affordability and Equity Act of 2010)

    Makes all educational expenses, including interest on student loans, tax deductible with no caps on amounts.

    Status: 4/20/2010 – Stuck in House Committee on Ways and Means.

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  • H.R. 4574 (Student Loan Interest Full Deductibility Act)

    Increase transparency and disclosure requirements for private loans, and provide for relief if the borrower died. Does not help monthly payments.

    Status: 9/29/2010 – Passed to Senate. Stuck there in Senate Committee on Health, Education, Labor, and Pensions.

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    Jason Spencer Student Loan Relief Dallas Texas