Student Loan Forgiveness Program

Student Loan Forgiveness Program Six Loan Forgiveness Opportunities Here are six of the most widely-known programs that provide opportunities for college graduates, who meet specific program and service requirements, to earn forgiveness for part or all of their federal student loans. Related Articles How to Pay Back Student Loans With Simple Strategies How to Pay Back Student Loans With Simple Strategies Student Loan Repayment Student Loan Repayment Direct Student Government Loans Direct Student Government Loans 1. AmeriCorps AmeriCorps offers a variety of service programs that provide college loan forgiveness opportunities. Tutor kids, clear trails, renovate houses, provide disaster relief and work with others in a variety of projects. Devoting your time to AmeriCorps can earn you monthly stipends and the opportunity for federal student loan forgiveness. 2. Peace Corps Volunteers in the Peace Corps can apply for deferment of different loan programs and may even earn cancellation of Perkins Loans (starting at 15% for each year of service to the Peace Corps). The Peace Corps members make a real difference in the lives of people throughout the world and in developing countries. 3. Army National Guard The Army National Guard offers a Student Loan Repayment Program for students who join. If you are a military veteran, you may be eligible for educational assistance programs. 4. Education The American Federation of Teachers (AFT) has a database that lists many student loan forgiveness programs for students who serve as teachers at elementary and secondary schools in low-income and rural areas. Requirements and benefits vary from one program to another. Search the AFT loan forgiveness program database to see what programs are available in areas where you are interested in working. 5. Law The Equal Justice Works organization, once known as the National Association for Public Interest Law, helps law students access loan forgiveness at their law schools for work in public or non-profit positions. A law school student who graduates, passes the bar and serves as a public defender may find their student loans for law school forgiven. 6. Medicine Registered nurses and physicians who agree to practice medicine in economically-depressed and remote locations in need of medical care, can seek loan forgiveness via the U.S. Department of Health and Human Services. Physicians who conduct clinical medical research and devote time and resources to the effort, may be eligible for the U.S. National Institutes of Health Loan Repayment Programs.