Two Ways You Could Have Your Student Loan Forgiven

Contrary to popular belief, joining the military is not the only way to have your federal student loan forgiven. There are other unexplored yet perfectly viable means of having your student loan waived off completely. Here are two of them explained in brief.

Take Up Teaching Full-Time

For those who have a Perkins loan, can enjoy partial forgiveness of the loan if they decided to take up full-time teaching in a school set up for the low-income community. The forgiveness of debt is directly proportional to the time you spend teaching in the school.

Additionally, under the National Defence Education Act, certain schools in every district can offer student loan forgiveness in exchange for employment as a teacher there. Contact your local school information board to get more information on this matter.

Become A Doctor or Lawyer

The National Institutes of Health grants forgiveness for some student loans. Medical students who take up research in fields relating to contraception, medical disparities, and other clinical research and complete them stand to gain from it.

Similarly, the National Health Service Corps can waive a maximum of $50,000 from the student loan debt of health professionals if they offer two or more years of service in clinics that are short staffed.

As for legal professionals, their student loans too can be forgiven if they decide to do some not for profit work. Known as the ‘Loan Repayment Assistance Program’ it falls under the jurisdiction of the Equal Justice Works.

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