Get informed about loan forgiveness
According to a recent article from MSN News, there are lots of American workers — maybe as many as 33 million people — who could take advantage of loan repayment deals but don't because they are confused by the rules.
At AIE, our work is largely about helping college students (and soon-to-be college students) make informed decisions in planning for college, paying for college, finding a career, and managing money.
We want to help you find answers to questions like "How will my choice of major affect my earning power?" and "How much should I borrow for college?" As part of that equation, you should know that there are loan forgiveness programs geared to help professionals in specific public-service occupations. If you were having second thoughts about following your passion and becoming a teacher (as opposed to pursuing a higher-paying profession about which you're less excited), consider factoring these programs into your decision.
Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), stated that a number of occupations, including teaching, the military, and law enforcement, offer a great benefit to society and often involve some sacrifice. Cordray noted that these forgiveness programs are available so that these workers "will not be mired in debt because they stir themselves to the calling of public service."
As you're making your own career decisions, you can learn more about these programs right here on AIE: