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Where can I find some information on the new student loan forgiveness program?

My fiance and I are buying a house but she has a TON of student debt (roughly $118k) which is getting in our way. She makes practically nothing as a social worker, and I’ve read that the new program gives forgiveness to teachers, civil service workers, and possibly social workers.

Do you know where I could find more specifics on this? Anything would be helpful. Thanks!

Asked by:marky p

  • momoftwo posted: 15 Jul at 2:29 pm

    There was something in the St. Louis Post Dispatch on Monday.

  • Suddenly Human posted: 15 Jul at 9:43 pm

    Department of Education has very specific rules for their student loan forgiveness policies for those who work in public service. Page 47 of this book describes the details of having loans forgiven. Note: these are for FEDERAL loans only. If she has private student loans (or she consolidated loans after graduation, she may not qualify.)… (page 47)

    What is a public service job?
    Eligible public service jobs are full-time jobs in the following fields:
    • Emergency management
    • Government
    • Military service
    • Public safety
    • Law enforcement
    • Public health
    • Public education (including early childhood education)
    • Social work in a public child or family service agency
    • Public child care
    • Public service for individuals with disabilities
    • Public interest law services (including prosecution or public defense or legal advocacy in low income communities at a nonprofit organization)
    • Public service for the elderly
    • Public library sciences
    • School-based library sciences and other school-based services
    • Certain tax-exempt organizations
    • Faculty teaching in high-needs areas, as determined by the Secretary
    • Full-time faculty member at a Tribal College or University

    Note: A borrower who pays only, or primarily, under a 10-year standard repayment plan or under another repayment plan in amounts consistent with a 10-year standard repayment is UNLIKELY TO HAVE A REMAINING BALANCE for loan forgiveness after making 120 payments on the loan.

    (This is why no one ever really qualifies, they passed the law, but if the person actually pays on it for 10 years, they pay the loan off!!!!) Stupid, worthless benefit that looks good on paper but never gets used unless someone takes a job working for minimum wage after they earn their degree.

    How do I qualify for this loan forgiveness?
    To be eligible to have remaining balances canceled, you must not be in default on the eligible loans and must have made 120 monthly payments on the eligible loan(s) beginning after Oct. 1, 2007. Earlier payments do not count toward meeting this requirement. Payments must have been made under any one or a combination of the following Direct Loan Program repayment plans.

    • Standard Repayment Plan with a 10-year repayment period.
    • Income-Contingent Repayment (ICR) Plan—not available to parent Direct PLUS loan borrowers.
    • Income-Based Repayment (IBR) Plan—not available to parent Direct PLUS loan borrowers.
    • Other Direct Loan repayment plans, but only payments that are at least equal to the amount that would be required under the 10-year Standard Repayment Plan may be counted toward the required 120 payments.

  • Fernandes S posted: 16 Jul at 8:50 pm

    Student Loans have lower interest rates. Given similar amount, or maybe more debt, than what you plan to take out on the student loan, it will almost always make more sense, since the debt you are effectively paying off is of higher interest than a student loan’s.
    Find here :http://student-loan-consolidationrebate.blogspot.com/

  • Joy posted: 17 Jul at 5:47 pm

    I saw your question I have decided to help people out due to the fact that I myself has been scammed four times by four lenders in my search for a loan but at last I got a reliable lender. that gave me the loan($60,000 USD) that I was in dire need of. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address:, Please tell him that Pastor Miss Lee Joy from CA. USA . I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.

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