How to Have Your Education Loan Dismissed
Having education loans can be a pain for many, many people and can seem to hunt you for years and years to come. You may have wondered if there is a way to get your education loan dismissed. There are ways to have your education loan dismissed, especially if you go into specific careers.
- Work as a nurse or doctor. Nurses who work full time for at least two year are eligible for forgiveness of 60% of their loans. If there is a shortage if the facility they are working in, after three years they may qualify for an additional 25% forgiveness of your loan.
- Start a career as a teacher. Teachers who work in low-income areas for at lease five consecutive years can get reimbursed up to 100% for their Federal Perkins loans. If you are working in a state where there is a shortage of teachers who teach in special education, teach in low-income areas, teach math, science, or foreign languages, you would be eligible to have your loan dismissed. Look on the federal student aid website to learn more about the program.
- Work for the government in different fields. There are several areas of work for the government where you can have your education loan dismissed. Some of these jobs include: nursing, firefighter, public safety, social worker and librarian. After 120 consecutive payments have been made the College Cost Reduction and Access Act as of October 2007 will repay the balance of government employee's student loans. For more information look on the National Association of Student Financial Aid Administrators' website.
- Join the National Guard. For those who join the National Guard after college they will repay up to $20,000 in student loan dept. If you join while you are in college they will pay up to 100% of your full tuition costs. Check out the National Guard website for more information.