Different student loan forgiveness options
Students who’ve chosen to walk the path of medical, law, military or teaching, keep reading to know about the options available for student loan forgiveness.
For those who aspire to serve the country
Students who plan to become a member of the armed forces, you’re automatically eligible for student loan forgiveness. All kinds of military jobs like Navy doctors, veterans, Air Force etc offer student loan forgiveness programs. Military College Loan Repayment Program (CLRP), The National Defence Student Loan Discharge, Public Service Loan Forgiveness Program are a few options you can consider to explore.
For those who love to defend
Students aren’t well informed about the options out there for law students on loan forgiveness. One thing we know for sure is all federal direct loans and guaranteed loans are eligible for student loan forgiveness. However, private loans aren’t forgivable. The program you should be looking at are the Department of Justice Attorney Student Loan Repayment Program (ASLRP), Law School Loan Forgiveness Programs and State-Specific Loan Repayment Programs.
For those who want to save lives
Medical school can get very expensive and will always be high in demand. With high tuition fees comes the heavy burden of student loans. Knowing there are a good number of student loan forgiveness programs to explore, your dreams are achievable. There are 2 federal programs that you can choose from- National Health Service Corps and Nursing Education Loan Repayment. Many colleges also offer different types of loan forgiveness programs, so don’t forget to check that out.
For those who want to teach
Teachers have more options for student loan forgiveness than any other professionals. Your four best options would be Public Service Loan Forgiveness (PSLF), Perkins Teacher Loan Forgiveness, State-Based Loan Repayment Assistance Programs, and Teacher Loan Forgiveness. Apart from these programs, there are a few “secret” student loan forgiveness you might or might not have heard of. All you have to do is sign up for these programs, as these programs are automatically part of your repayment plan.