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Student Loan Forgiveness
Student loan forgiveness is available for college graduates who are having difficulty repaying student loans. Student loan forgiveness programs will officially cancel all or part of the loan amount. That amount will then not have to be paid back.
However, getting student loan forgiveness may not be easy. There are specific programs and rules that must be followed before the graduate may qualify.
Student Loan Forgiveness for Teachers & Nurses
Teachers, nurses, doctors are particularly suited for student loan forgiveness. There are a variety of programs designed to help workers in these professions.
Student Loan Forgiveness for Volunteer Service
Graduates of other disciplines may consider the Americorps and Peace Corps volunteers student loan forgiveness programs.
Americorps is a national service agency that assigns volunteers to help in many areas of community service including education, public safety, health, and the environment and more. Participants receive an Education Award of $4,725 for a year of full-time service, and is prorated for part-time. Americorps Education Awards may be used to repay a student loan made by a state agency, including state institutions of higher education.
Peace Corps volunteers may defer repayment on student loans while serving and are eligible for a 15 percent cancellation of their outstanding balance for each year of Peace Corps service. Additional educational and financial benefits are available.
If you have large student loan balances, check into the many options you have in employment and volunteer opportunities that can help you eliminate or dramatically reduce your debt.
Next Student - Student loan consolidation program has helped students cut payments by up to 60%
ScholarPoint - Consolidate student loans and cut monthly payments by 52%
EdFed - Graduates qualify for up to 100% Loan Forgiveness with EdFed.