What is a Perkins Loan Cancellation Program (PLCP)? Who all gets Qualified for PLCP?
In the United States, student loans are one of the fastest-growing forms of mortgage debt. Outstanding student loan debt is estimated at over $1 trillion, including more than 43 million borrowers. According to savingforcollege.com, the total debt per borrower is estimated to be about $33,500.
Loans come in multiple ways. Banks and other financial institutions provide private loans. Refinance loans are structured for persons who’ve already graduated and have repayment loans. On the other hand, federal loans are issued by government-subsidized loan programs. The Perkins Loan, a program that started in 1958, was one of these.
