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Loan Forgiveness programs are used to attract students to serve in certain jobs or areas of the United States that are experiencing a talent shortfall. A loan forgiveness program will repay all or a percentage of a student's educational debt. The loan forgiveness occurs after the student has graduated from school and has started working. This is in contrast to service payback programs which pay for a student's expenses while they are still attending school.
The loan forgiveness programs that are available today include:
- Loan Forgiveness for Teachers - available to former students that agree to teach in certain low income neighborhoods.
- Loan Forgiveness for Childcare Providers - available to those former students that agree to work in child care facilities that demonstrate need.
- Perkins Student Loans - there are a number of programs that qualify for forgiveness ranging from nursing to Peace Corps volunteers.
For more detailed information on loan forgives, see our publication on student loan forgiveness. |
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