Volunteer and the Government May forgive your Student Loans??

By
Real Estate Mortgage Broker with Wintrust Mortgage

Are you having trouble paying back your federal student loans or you just aren't looking forward to 25 years of monthly payments? Well, according to www.FinAid.com, you could qualify for the government's Loan Forgiveness program, which cancels all or part of qualifying federal student loans based on your work or volunteer service.

Created by The College Cost Reduction and Access Act of 2007, this program is designed to help certain borrowers with their educational expenses. To qualify, you must: perform volunteer work (AmeriCorps., Peace Corps., and Volunteers in Service to America); perform military service; and teach or practice medicine in certain communities.

Ask your Human Resource professional if you qualify or visit FinAid's website.

There's also a Public Service Loan Forgiveness Program that discharges any remaining qualifying educational debt after 10 years of full-time employment in certain positions of public service. Jobs include: emergency management, government (excluding members of Congress), military service, police officers and fire persons, public health workers (including nurses, nurse practitioners, nurses in a clinical setting, and others), public education, early childhood education, social work in a public child or family service agency, and many more.

Just thought you would like to know.

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Topic:
Mortgage / Finance
Location:
Minnesota
Tags:
student loans
purchasing home
purchase

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Rainer
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Karen Poss
Realtor - 256-366-6292 - Search Florence Al Homes For Sale
Coldwell Banker Pinnacle Properties, Florence Alabama

Hey this this very interesting.  How did you know about this and how can I find out more.  My daughter is getting her degree in social work and will be doing her internship with our local DHR.  It would be wonderful to get some "forgiveness"  on some of her student loan debt.

December 31, 2009 12:02 PM
Rainer
45,903
Christopher Larson
Wintrust Mortgage

Go to this site:  http://www.finaid.org/loans/icr.phtml to find out more.

 

January 25, 2010 04:04 PM
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Christopher Larson

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