Public Service Loan Forgiveness benefits are available to anyone who works full time in one of the following positions: PSLF is especially valuable to people who took out massive student loans to go to school (like Doctors, Dentists, and Lawyers), but who graduate into jobs that aren’t paying them much each month, like for those healthcare personnel that choose to work in the public sector.
It’s recognized as a loophole, but by enrolling in one of the Income-Based Repayment Plans (like the Pay As You Earn Plan), and PSLF at the same time, it’s possible to have hundreds of thousands of dollars of student loans written off after making very small payments for 10 years.
The best way to consolidate credit card debt under ,000 could be to get a zero-percent interest credit card and transfer balances from high-interest credit cards over to it.
You also could look at a personal loan to pay off your balances.
And if you have federal loans, the government can add fees or even garnish your wages, forcing your employer to withhold money from your paycheck and send it directly to the government.
Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.
If you have questions about Federal student loan forgiveness benefits, please feel free to ask them in the Comments section below.
There is a major caveat to President Obama’s updates, however, in that the extremely popular Pay As You Earn Repayment Plan is still currently only available to those borrowers who first received Federally-funded student loans on or after October 1st, 2007.
These figures don’t include average room and board expenses, which can push costs up by more than ,000 per school year.
Fortunately, you don’t need to pay your tuition before attending your first lecture.
When you think of college, you may think of studying, spring break or late-night pizza in the dorm.