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Student loan forgiveness ?

someone told me that there is a program called student loan forgiveness, when you work for the state or government or any public job for 10 years, then you will not have to pay back your loans ?

Asked by:Minnie-X

  • Jennifer posted: 15 Sep at 7:59 am

    Certain Federal Government agencies have those programs (like the DoD), yes, but there are limits (like how much they will pay, in total, and which jobs are included in those programs – not every position is valued enough for them to pay for the college costs. I don’t know if there are any States that have comparable programs. You need to check with the specific State or Federal organization you think you might want to work for.

  • trh2000_2000 posted: 17 Sep at 9:18 am

    Of course, if you work for 10 years and make minimum payments on your loans, they’ll be paid off just the same.

  • spalmer posted: 20 Sep at 7:38 pm

    Yes, but most student loan payments are based on 10 years of payments anyway. Through the income based repayment plan (if you qualify), after paying the monthly payment (based on your income) for 10 years (if you work in a public service job for 10 years), all debt leftover is forgiven. With this plan, if you work in a non-public service job, you would continue to pay based off of your income for 25 years before the rest of the debt is forgiven. Here’s an information site:

    Despite the job you work, you still have to pay the monthly amount, unless they agree to repay your loans immediately. If you don’t pay for 10 years, you would be in serious default and wouldn’t qualify for any loan forgiveness programs.

    There are also several other sites about this program.

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