Public Service Loan Forgiveness Program

This is a bit of a break from the fast, but this is such great news that I had to share it. If you work in a public service industry, the government will forgive your loan debt after 120 payments (even if they are $0 because you make little money!). That’s 10 years!

This is not a gimmick, this is a legitimate government program that I just found. I had no idea it existed.

If you work in the following areas, you qualify:

Type of Public Service Organization, in accordance with the definition in Section 5 (check one):

(a) A government organization (including a Federal, State, local or Tribal organization, agency or entity; a public child or family service agency; or a Tribal college or university);

(b) A non-profit, tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code;

(c) A private, non-profit organization (that is not a labor union or a partisan political organization) that provides at least one of the following public services (check all that apply):

Emergency management,
Military service,
Public safety,
Law enforcement,
Public interest law services,
Early childhood education (including licensed or regulated child care, Head Start, and State-funded pre-kindergarten),
Public service for individuals with disabilities and the elderly,
Public health (including nurses, nurse practitioners, nurses in a clinical setting, and full-time professionals engaged in health care practitioner occupations and health support occupations, as such terms are defined by the Bureau of Labor Statistics),
Public education,
Public library services,
School library services, or
Other school-based services.

NOTE as to categories (b) and (c): a borrower’s employment does not qualify if the borrower’s job duties are related to religious instruction, worship services, or any form of proselytizing.

For the application, click here: Application

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s