Student Loan Forgiveness Program Borrowers that become teachers in schools that have a particular population of low income students could also be eligible to receive forgiveness of their Perkins loans. The National Defense Education Act allows teachers to possess loans forgiven at a rate of 15 […]
Student Loan Forgiveness Program Borrowers that become teachers in schools that have a particular population of low income students could also be eligible to receive forgiveness of their Perkins loans. The National Defense Education Act allows teachers to possess loans forgiven at a rate of 15 percent of the loan for every of the primary two years of teaching and one-fifth in years three and 4 . Thirty percent of the loan is forgiven within the fifth year.
Teacher’s in Mississippi that hold an alternate route teaching license and are employed in schools with an educator shortage could also be qualified to utilize the teacher loan repayment plan.
Legal and Medical Studies:
Law school loan borrowers who add non profit or public interest law positions could also be eligible for student loan forgiveness. The US Department of Health and Human Services features a program for doctors and nurses who practice medicine in areas that don’t have access to proper medical aid . Federal loan borrowers should contact the American Association of Medical Colleges (AAMC) for an inventory of all medico loan forgiveness options.
Federal Student Loan forgiveness programs
You are in luck if you are looking for federal student loan forgiveness programs. The Government is not as harsh as private loan givers in this regard. Since you can work in various fields, and offer your duties in exchange for Federal loans, things are much more comfortable in this regard. You cannot necessarily do the same type of work for private student loan givers.
The best federal student loans these days come in the form of Public Service Debt Forgiveness programs. This program can offer you complete forgiveness should you decide to work in areas like non-profit employment, and Government services. These opportunities make the program one of the most desirable.
If the route mentioned above is not the way for you to go, there are undoubtedly many other programs for you to benefit from. Federal student loan forgiveness programs are also available for those who want to be nurses, teachers, and military servicemen.
Will you be able to qualify?
Almost anyone who has ever been involved in taking out a Federal student loan can qualify for some student loan forgiveness programs through the many relief programs that are on offer. These benefits will heavily depend on your current employment. Some programs will evaluate the level of value your job has to society can often be a defining factor.
Some of the student loan forgiveness programs mentioned above are a highlight of the most significant and more beneficial forgiveness programs. If you are not employed in the fields mentioned above, you should not give up yet because the list of debt relief programs out there can go on for pages.
You could owe hundreds of thousands of dollars, or a mere thousand. This should not worry you, because you are sure to find a program that can suit your personal needs. All you have to do is keep reading this article, and choose the one that’s best for you. It is also worth mentioning that receiving relief through student loan forgiveness programs may take months, even years. This makes it crucial for you to carry out thorough research before enrolling in any of the programs.