Student Loan Forgiveness

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Student Loan Forgiveness Programs really do Exist

There are multitudes of ways to get your college education paid for. One way is often overlooked because it happens after the fact. It's called a student loan forgiveness program. This is a type of program that helps cover the expense of student loan repayment after you've already used it. Basically, with student loan forgiveness, you get someone to wipe out all or part of a student loan.

Federal student loan forgiveness programs

The federal government has a few options for student loan forgiveness. You get certain amounts of money wiped off your record for completing various tasks or work. The tasks aren't easy however. Some of the programs you can get involved with include the Army National Guard, Peace Corps, and certain medical and teaching professions. There are a number of available student loan forgiveness programs, too numerous to name. If you plan on participating in one of these fields, you should look into the programs right away.

But I don't have time for volunteer work and I'm not a doctor or a teacher!

Don't give up hope yet! You may still be eligible for a student loan forgiveness program. Some employers are able to offer loan forgiveness programs in conjunction with the federal loan program. There are also various state-wide student loan forgiveness programs that are offered for certain things such as living in a certain state and having been in the Army, just to name one.

How much student loan forgiveness will I qualify for?

There is no set amount for a student loan forgiveness program. However, programs are capped at a certain amount, and many give incentives for doing a job or service for additional time. On the other hand, this does not mean that you can't use more than one student loan forgiveness program.