Practical and Helpful Tips: Resources

By | May 7, 2017

Student Loan Forgiveness: What Is It and Can I Qualify With My Loans? Student loan forgiveness is important for students to understand, especially if they are going to be taking out loans for themselves. Student loan forgiveness is a program where a student may be able to get out of having to pay back the loans that they had borrowed. Being able to do this seems really easy, right? Although it sounds good, not all of the people are going to qualify for student loan forgiveness. Before a person will be able to qualify for this program, you will find that there are a lot of specific requirements that must be met. This article is going to help you to learn a little bit more about the program and how you may be able to qualify. If you are someone that likes to volunteer, this is a great way to possibly qualify for student loan forgiveness. People that join groups like the Peace Corps or other organizations may be able to use the experience that they have to get their student loans lessened or forgiven. After a specific amount of volunteer hours, members that are involved in these organizations might be able to qualify for loan forgiveness. In addition to this, students that eventually go on to serve in a branch of the military will be able to get a specified amount of money to pay toward their student loans. It is important for teachers to know that they are sometimes eligible for student loan forgiveness. If a teacher is teaching in a school setting full time that has low income families or is in a low income area, they will generally be able to qualify for student loan forgiveness. Typically, teachers will have to work at this specific location for at least 2 years before they will start to be able to receive this benefit.
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Another way to qualify for this program is if you are working as a nurse or a doctor in specific areas. Low income areas or rural areas are typically in higher need for medical help. If you are a nurse or a doctor working for one of these areas, you will want to see if you can qualify for student loan forgiveness after a certain amount of time.
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There are some colleges out there that offer these options for their students as well. You can also find that there are some states that will do that also for the specific types of students. There are other career options out there that may help you qualify for student loan forgiveness, so be sure to check that out and see if your career is qualifying.