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Live a Comfortable Life and Apply for a Student Loan Forgiveness Program

Majority of college students are left with no other choice but to apply for a loan in order to secure their future. This seems like a good plan at first but what happens if you end up getting a job that does not pay well? If you are having a hard time paying your remaining student debts, applying for a student loan forgiveness program is the solution to your problem. For those who do not know what this is, student loan forgiveness is a program that exempts those who are working in the public service sector to pay their remaining debts. This act was passed by the congress on October 1, 2007. Even though it is true that there are stipulations and conditions that you must adhere to if you want to apply for this program, we cannot deny the fact that the student loan forgiveness program is very helpful especially for those who do not earn very much. If the type of student loan you have are Federal Direct Plus loans, Federal Direct Consolidation loans, and even Federal Direct Stafford loans, then you are eligible for this said program.

If you are employed under any public service job and you have made 120 successful payments in the past, then applying for this program will be a cakewalk for you. Being part of the police force, military, public health/ education, and any government-related jobs (can’t be under the Congress or Senate) are jobs that qualify for the student loan forgiveness program. Public school librarians and tribal college instructors also made it to the list.

Because it was mentioned earlier that this program was only approved on the 1st of October 2007, any payments made before this date will not be counted. They also don’t allow any applicants to use any extended repayment plan or a graduated repayment for this said program. All 120 payments should also be done while you are still employed for any of the jobs mentioned above. Do not quit your job if you really want to be a part of this program.

Applying for the student loan forgiveness program is definitely helpful especially if you are just starting to work and you have a low income. Even though the stipulations and conditions for this said program is a bit daunting, that does not mean you will not qualify. For as long as you do not do anything that will jeopardize your job and that you plan to work for an extended period of time, this task will be a piece of cake for you. You will never regret spending time and energy applying for this program because you will soon be free from your financial obligations. This is something that you must take advantage of.

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