Careers That Offer Partial Or Total Loan Forgiveness
It is a well-known fact that most college students need a loan to be eligible for a college education. To put it in statistical terms, at least seven out of ten college students take loans to pay for their college education, which totals to an average balance of more than $35,000 by the time they graduate out of school. All said and done, this is definitely not an ideal way to start out in your professional career, with a huge debt on your head.
Students should preferably look for companies that offer to forgive college loans as they take them on as employees after graduation. In fact, companies are offering to forgive college loans as a way to attract good employees in spite of poor economic backgrounds.
In that respect, here are some careers that recent graduate students can opt for and forgive college loans as a part of the package.
In that respect, here are some careers that recent graduate students can opt for and forgive college loans as a part of the package.
- Federal Agency Employees – Federal agencies have significant leverage as opposed to private companies when it comes to loan repayment in the sense that, they are allowed to offer student loan repayment assistance to their employees as long as it does not exceed $60,000 per person.
- Public Service Careers – Public service institutes offer loan cancellations for full-time public service employees as long as they are unconsolidated loans. There is also the Public Service Loan Forgiveness Program which is available for any person of a government organization, tax-exempt organization or for-profit organization with qualifying service.
- Medical Practice – There are specific options available for loan forgiveness to medical practitioners and other people who have careers in medicine including doctors and nurses as well. The Association of American Medical Colleges maintains a list of loan forgiveness programs for doctors.
These are the careers that have loan forgiveness programs available to you if you choose any of these fields as a career. You will notice that most of these careers include helping the community in some way. Therefore, if you are doing public service or enjoy helping people, a career in public service or medicine may be the right one for you.
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