Read More >>
Contingent on your current occupation and the degree attained in college, chances are that you qualify for several student loan forgiveness programs. For those not sure whether it’s possible to have loans forgiven through their current employer, they can begin by asking the HR department.
The following are ways you can use to get loan forgiveness:
Various volunteer organizations provide student loan forgiveness to interested individuals in exchange for their time. Becoming a volunteer for VISTA (Volunteers in Service to America), Peace Corps, and AmeriCorps can lead to up to 70% of your student loans being forgiven.
Check their respective websites to collect additional details about their student loan forgiveness programs.
It’s not uncommon for legal and medical professionals to end up with student loan debts totaling up to six figures. Fortunately for individuals in these professions, there exist numerous student loan forgiveness plans that can help them reduce their repayment burden.
A major benefit that comes into joining the military is loan forgiveness. At the moment, the Navy, the Army, Air Force National Guard, the Air Force, and the Army National Guard all provide loan forgiveness and loan repayment programs. The amount provided can be as much as $20,000 depending on your branch.
Unluckily, the Air Force Reserves, the Coast Guard, and the Marine Corps don’t provide any loan forgiveness plans.
It’s possible to have part of your student loan forgiven if you used a Perkins Loan to assist you to pay for your college education. For this to happen, you will need to work full-time in a school, i.e., elementary, middle, or junior high school, that specifically deals with children from low-income communities. Your balance will reduce the more years you teach.
This article has not been paid for by any advertiser. Mens.Life does not endorse any products or treatments discussed herein. This content is intended for informational and entertainment purposes only and is not a substitute for professional advice or analysis.