What is a “loan forgiveness” option for a student loan? Where would one find the details in writing?
I have heard that there are stipulations but options none the less to proceed in your chosen career to a town that may be in need of your specialty, say a nurse and then you work in that town for x amount of years and your student loans are forgiven? Is this true and does anyone know the details and where to find this in writing? We have doctor’s who come to our clinic and stay only two years and without a heads up are simply gone, while I think that is unkind and unprofessional I would like to know about anything to do with loan forgiveness. Your time IS appreciated…
Yes, it’s true but there are a lot of hoops to jump through. The details can be found here : http://studentaid.ed.gov/students/attachments/siteresources/LoanForgivenessMarch18.pdf
Basically, you have to work in a public service job for 120 months before you are eligible. Teachers have a separate program based on where they work.
