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 ?
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: http://www.ibrinfo.org/what.vp.html
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.
