Nursing Loan Forgiveness Program
How to get Student Loan Forgiveness: 4 Things that nobody told you
In the USA, only 40% of the student loan borrowers are eligible for some or the other type of loan forgiveness. However, out of this percentage only 10% borrowers actually take advantage of the forgiveness schemes. Each year, millions of students pass out of the campus with an average loan debt of $22,500 or more. Hoping to get a well-paying stable job makes most student loan borrowers seek opportunities in the private enterprises. However, this may not be the best thing to do, especially when there is a heavy competition in the private sector.
Keeping in view that many schools and colleges run by the government require quality teachers and professors, the Obama Loan Forgiveness scheme comes as a handy financial aid.
We bring you 4 features about the Obama Loan Forgiveness program that most borrowers find to be “misleading”.
1. Obama Loan Forgiveness is applicable to Federal Loan Borrowers only
Thus far, only federal loan borrowers of graduate federal loans are eligible for entry into the Obama Student Loan Forgiveness program. The loan is taken from the school enlisted by the federal government and the education department to support the students attending a particular curriculum.
In case the student drops out of the classroom, or fails to complete the course, the debt against that student is borne by the school. However, the student borrower is labeled as a delinquent and disqualified from seeking any further financial aid from the federal institutions.
2. Is forgiveness really possible?
Obama Loan Forgiveness scheme seems to be working well thus far, especially as it is linked with the existing Public Service Loan Forgiveness and NURSE Forgiveness programs. Moreover, public officials who have federal loans are offered extensive incentives for continuing with their professions, serving the community.
For instance, a teacher with 5-year experience in the profession, and currently engaged in teaching students from low-income or no-income families can earn forgiveness of up to $17,500 per year. By the 5th year, most of the debt is either paid away in the form of graduated incentives linked to the federal loan, or provided Grants/sponsorship to pursue further education.
3. Forgiveness will arrive from 2017-2018
The first set of qualified borrowers under the Obama Loan Forgiveness would be granted waivers after October 1, 2017.
The strict condition is that the borrowers should have repaid their monthly interests diligently for 120 months.
4. Will the FFEL Program borrowers be considered?
The Federal Family Education Loan program is second-most popular education funding scheme after the Direct Loans. Launched in 1965, the FFEL was permanently terminated in June 2010. Thus, Obama Loan forgiveness is not applicable for the borrowers. However, if the FFEL Program is consolidated with Direct Consolidation Loan, the borrower can apply for the forgiveness as per the PSLF regulations.
Only the repayments made after consolidation would be counted in PSLF, no matter how much you have repaid earlier.
Thus, you should always consider consolidating the student loans with the Federal Direct loans to earn maximum returns.
Impact of Loan Forgiveness schemes on the Healthcare industry
Education sector in the United States of America is steadily falling behind the contemporary market demands. The healthcare sector in particular is the worst hit industry when it comes to finding good talent and employing them to cater to the rural needs. Nurses and paramedic officers are hard to find, and manage. The major reason for the lack of talent and volume of nurses in US’s healthcare industry is blamed majorly on the lack of financial aid.
The Statistics on Nurses
According to the recent data published in the year 2014 by the Bureau of Labor Statistics, there are currently 2.9 million nursing jobs all over the USA. Out of these, only 37% are actively engaged, and rest are looking for greener pastures in private firms or seeking a higher education to upgrade their skills into research field or take up specialist roles in the health care industry as doctors, physiotherapists or as radiologists. In short, the graduate nurses actively engaged in nursing profession may not stay in their current roles for long.
The Loan Forgiveness for Nurses have been designed to ensure that “job migration” does not affect the healthcare industry drastically, especially in rural areas where there are only 10 nurses for every 1700 persons in the USA.
Mode of engagement
What is astonishing about the nursing education in the USA is that more than 15% actively-engaged nurses have earned their Master’s or Doctoral degrees by taking loans. Despite best efforts, they have a hard time finding a reasonably well-paying job in the industry. Lack of incentive from the privately-owned hospitals and healthcare facilities is taking its toll on their government counterparts. In the dilemma over joining a bond-oriented government job, nurses prefer to stay back in the private firms. Which means, the loan repayment becomes tough, and in some cases, unmanageable.
Sadly, in a country where doctors and medical officers form more than 1.5%, qualified nurses account for only 0.76%! Out of these many nurses, most of them have heavy students’ loans overhead. Loan forgiveness for nurses, thus have a very important role to play both in educational sectors as well the nursing sector in tandem.
Top Loan Forgiveness for Nurses Programs in the USA
There are many Loan Repayment Programs (LRP) considered by the nurses as loan forgiveness schemes in the USA.
- Federal PERKINS Loan Discharge
- NURSE Corps Repayment Program
- PSLF
- National Health Service Corps LRP
- Iowa’s Registered Nurse LRP
In order to qualify for the loan forgiveness for nurses program, the applicant has to satisfy some eligibility criteria like completing licensing training, fulfill employment conditions as full-time nurse, or as intern, and proven American citizenship. In some Loan Forgiveness schemes for nurses, the applicant has to necessarily complete at least 5 years of full-time employment with registered healthcare institutions.
For all the right reasons, the schemes related to the Loan Forgiveness for Nurses are hot topic in the USA. Critical to the system concerning hospitals, nursing homes, rehabilitation institutions and military barracks, the nurses play a very important role.
How Loan Repayment Program Benefits Nursing Professionals?
Nursing in USA is a respectable job but comes at a rather high cost of education. As the pursuit for good quality nursing education becomes important, the federal loans come as a handy aid for families struggling with rising cost of education.
However, to enjoy the benefits through loan forgiveness programs for nurses, an individual has to fulfil certain conditions—
- Volunteer activity with NGOs and community service agencies
- Serve in military centres, wartime areas and in peace-keeping organizations
- Teach and practice nursing or medicine in community centres/ educational centres
The repayment benefits in Loan forgiveness for nurses are applicable only if the practitioners have paid up/ paying up the loan interest on a monthly basis.
Forgiveness on loans for nurses—Join top organizations in USA
Best American organizations in USA with long history of medical aid and welfare programs support the federal government in strengthening it forgiveness programs. The joint association with the federal government encourage nursing professionals to improve socio-economic conditions and health-care workers across the USA.
Here are top career choices you can make to gain consistent loan forgiveness benefits for nurses.
- Military Aid
Army Nurse loan forgiveness is a great incentive for fresher graduates who are looking to quickly repay their loan sum. This program is available for both public sector employees as well as those working with private groups. The army nurses are required to replace and reinforce medical officers on the warfront or the battalions engaged in peace-keeping missions.
A nurse under this scheme can earn bonus up to $ 25,000 USD, in addition to $ 100,000 that can be paid towards the repayment of loan in easy EMIs. Moreover, a nurse with an experience of over 2 years can get USD 50,000 under the US Army Reserve Health Program towards the loan repayment.
- AmeriCorps
This is an exclusive sponsorship-backed program launched by the US government to encourage nursing professionals in teaching, training and public health commissions. A one-year program with AmericCorps can earn a stipend of up to $8000 USD with additional income of $ 4500 to be paid towards the repayment of the student loans. This additional income is a definite loan forgiveness sum for nurses that reduce the monetary burden.
Different loan forgiveness schemes for nurses joining AmericCorps are available in programs like—
- AmeriCorps VISTA (Volunteers in Service to America)
- AmeriCorps NCCC
- AmeriCorps State and National
Education Award of $5000 and more can also be availed along with living allowance, health aids and child education care.
- Peace Corps
PeaceCorps have been transforming lives of millions of Americans and international citizens for years now. With ever increasing demand for quality health care services, nurses serving in USA have a wonderful opportunity serving at Peace Corps but also earn loan forgiveness with remarkable volunteering sponsorships and generous allowances from the government.
All loan repayment benefits are available for nurses and medical professionals working on long-term healthcare programs, military aid foundations and non-governmental agencies working for unprivileged communities.
Loan Forgiveness for Armed Personnel: The Benefits of Being a Nurse in USA
Serving in the US Army is a very challenging opportunity. The amount of hardwork, determination and the quality of study that goes into producing the best cadets has encouraged the Obama administration to extend the existing loan forgiveness schemes and repayment plans. There are numerous advantages of joining the US Army Nurse Corps and avail the maximum benefits of the Loan Forgiveness for nurses, doctors and paramedics.
Here is what you should know about the loan forgiveness for nurses serving in Army and other associated agencies.
Comprehensive Package: Salary plus Incentives
A nurse serving with the US Army is entitled to many comprehensive financial benefits in addition to the competitive salary package. If you have availed the student loans to complete your education, the federal government offers extensive loan forgiveness for nurses with exemplary health and medical benefits. The ever-attractive retirement plans in addition to housing allowances and paid vacations annually seem to be the creamy layer in the main dish that serves tax-free loan forgiveness and complete loan debt cancellation after completing a certain years of service in the US Army.
Accession Bonus
Loan Forgiveness for Nurses is also available with sign-on bonus of at least USD 30,000! For those who have plans to serve in the Army Nurse Corps permanently can avail complete loan forgiveness with additional tangible and intangible financial benefits.
For those in active duty, whether in peace-keeping missions or serving on war fronts, need 10-14 weeks of additional training .The Loan forgiveness for nurses are available if they fall fulfil the following criteria:
- US citizenship practising in USA
- Graduation from BSN or MSN from a CCNE or NLNAC-accredited school
- Unrestricted nursing license by recognised body
- Meet mandatory Air Force/ Navy/ Army fitness standards
- Served at least three years of active duty
Active Duty incentives
Active army nurses in missions or serving as reserves can avail a loan repayment incentive of USD 10,000. It is often clubbed with the Accession Bonus, for nurses who have served a minimum of three years in active duty.
As per the provisions of Loan forgiveness for nurses in active duty, the federal agency provides up to USD 120,000 as repayment towards the educational loans, with an average of USD 40,000 per year for the three years of active duty.
Different Roles, different loan forgiveness incentives
In US Army, the loan forgiveness for nurses depends on the functionalities and the specialities of the personnel. Anaesthetists, radiologists, family nurse, midwives and clinical specialists are eligible for a payment of USD 2000 to USD 6,000 per year. For those in Active Duty, the incentive payment could be as high as USD 15,000.
Special pay towards the Loan forgiveness for nurses are extended to personnel with BSN, MSN, DNSc and PhD-Nursing.
Depending on the loan program you have chosen as a nurse, your forgiveness program will also vary depending on the principal amount taken, repayment made and previous debt history.
A Complete Guide to Student Loan Forgiveness for Nurses
Nursing as a professional is a noble assignment. But it comes with its share of challenges in the form of endless certification programs and loan repayment issues. Pursuing nursing education could dent a blow to your career plans and financial stability if you have a hefty loan to repay in your prime as a talented nurse.
Here is a quick guideline to help you sail past the hurdles of defaulting and forbearance using the provisions of Student Loan Forgiveness for Nurses.
100% Discharge with Federal Perkins Loans
If you are full-time nurse with Federal Perkins Loans in your kitty, you are eligible for as much as 100% loan discharge. This loan program offer the nurses an excellent opportunity to avail forgiveness as an incentive. The full-time employment is a mandatory eligibility criterion with different levels of specialisations, work locations and term of service.
100% discharge as per the Student Loan Forgiveness for nurses under Perkins Loans portfolio cover nurses working in hospital and health centres meant for low-income families, or catering to high-risk children. ACTION volunteer, Peace Corps and Military nurses too have 100% discharge incentives under the Student Loan forgiveness program for nurses and teachers.
Enrol with Critical Shortage Facilities
The NURSE Corps Loan Repayment Program is a unique extension of the forgiveness scheme meant for nurses employed with the Critical Shortage Facilities (CSFs). Nurses working in such designated facilities can avail forgiveness in the form of automated loan repayment within 24 months of employment. For forgiveness, a nurse has to work for at least 32 hours every week. This factor will earn a repayment benefit of up to 60%. In the third year, the nurses covered under NURSE Corps program are eligible for additional repayment benefit of 25% towards their loans.
Pick Public Service Loan Forgiveness
If you are a nurse and have a direct loan package to repay, it is best to go for Public Service Loan Forgiveness. This exemplary model allows a public service official to avail forgiveness after 10 years of continuous and timely monthly interest repayment. All Direct Loans are included in this Forgiveness, but the condition is strict with cases of defaulting. All nurses working in a public health service centre or a tax-exempted non-profitable nursing centre are eligible for the forgiveness from their 121st month of loan repayment schedule.
Best part about this student loan forgiveness for nurse is that it is 100% tax-free.
Loan assistance in shortage areas
Some parts of the country offer extensive loan forgiveness to attract nurses for shortage areas. In Alaska, the SHARP program is designed exclusively for nurses and medicos to work in return for an incentivised loan forgiveness and repayment scheme.
Similarly in Arizona, nurses can receive up to USD 50,000 of loan repayment assistance for working either as a part-time or full-time professional in shortage areas. Different states have different loan forgiveness programs for nurses.
Thanks to the novel initiative of Obama’s Student Loan forgiveness for nurses, nursing is back to its positon as a lucrative profession in the USA and abroad.
Repayment Plans available to Student Loan Borrowers
It’s a great decade for loan borrowers. Finally, the US administration realised the need to revolutionise the education system in the country and focussed emphatically on the need to link it with financial institutions, there has been a sense of relief expressed by borrowers. Federal student loan borrowers can now enjoy a more lenient action from the lenders as per amendments proposed by the Departments of Education and Treasury and the Consumer Financial Protection Bureau.
The new guidelines for loan repayment and loan forgiveness program for nurses, teachers and doctors have been systematically mentioned in a guide book called “Payback Playbook”. The borrowers would receive the guidebook whenever the borrower applies and receives loan from the servicer. A borrower from Student Loan forgiveness program can pick a payment mode best suited to his/her financial capability.
Repayment plans available
Currently there are 8 distinct repayment plans that a student borrower can apply for. Although a borrower can select or get a repayment plan assigned according to the forgiveness demanded. No matter which stage of debt repayment you belong to, a continuous association with the lenders through federal agency remains the key.
A borrower can change the plans anytime, absolutely free of cost.
Here are your choices.
Standard Repayment Plan
The following loans are included in the plan for repayment and forgiveness:
- Direct Subsidized and Unsubsidized Loans
- Subsidized and Unsubsidized Federal Stafford Loans
- PLUS loans
- Consolidated loans
According to this plan, payments are fixed for 10 years in case of normal loans and for 30 years in case for Consolidation loans.
Graduated Repayment Loans
The same repayment and forgiveness categories applied to Standard Plan are available for Graduated plan as well. The borrower of student loan starts at a relatively lower interest rate and then get it increased gradually every two years. Compared to the 10-year Standard Repayment Plans, a borrower ends up paying more in this plan.
PAYE
This is a very friendly repayment program for those looking for forgiveness. The maximum monthly payment a borrower can make is 10% of the discretionary income. Every year, the monthly payments are revaluated and updated based on income and the number of members in the family, directly dependent on the borrower.
The student loan forgiveness for nurses is earned after 20 years of continuous monthly payment. For those who are married, the spouse’s income and loan debt is also considered, for tax deductions.
Revised PAYE
Any borrower with Direct Loan is eligible to choose this plan. It is preferred by the public unit servicemen seeking benefits from the established Public Service Loan Forgiveness (PSLF). In order to get entry in to the Student Loan Forgiveness program, the borrower should have applied on or after October 1, 2007. The receipt of disbursement of Direct Loan should be on or after October 1, 2011.
All Student loan forgiveness plans attract tax liabilities on the money earned. The above repayment plans only make the loans less burdensome and encourage education in the USA with a positive effect.
How to find the Right Repayment Plan for Your Student Loan?
American students pursuing higher education by taking loans have multiple options. But not all options are beneficial. In fact, some student loans can actually come as harsh step in the long run if availed from scrupulous creditors. Whether you are taking a federal or private student loan, there are both short-term and long -term implications. This is where Student loans forgiveness programs come handy. Before taking a loan, it is important to find ways of repaying them without hitting a roadblock.
Consider the following things before revealing your repayment plan on student loans.
- Time by which you will race and repay your entire debt
- Kind of job you have and the expense per month
- How you will link the debt repayment plan to your income
- Your credit score
- Kind of assets and liabilities you have now and might attract in future
A little predictive analysis of the situation five to six years from now after taking loans will help you actually leverage on the benefits of being covered under Student loan forgiveness programs.
Here are top repayment plans for those seeking quick forgiveness with guaranteed write offs in future from the creditors.
The Standard 10-Year Repayment Plan
Quickest way to get that credit blot out of your report is to make fast repayments against your student loans. You can save less on interest payments if you make chunk payments for a shorter period of time. This is why the Standard 10-year repayment plan serves well. When combined with the Obama Student Loan forgiveness for Public service workers, it proves to be very cost effective and also less burdensome.
For student loan borrowers who can afford slightly larger repayments than other plans spread over longer period of time, this is an apt program, especially with the fixed interest rate.
Tip: Get a stable job, preferably with a public sector organization and enjoy the perks of Student Loan Forgiveness for nurses, doctors and military.
Graduated Repayment Plan
It is a progression repayment where the payments start at an initial low value and then hiked every two years. It still also maintains the deadline of 10 year standard repayment, and ensures forgiveness in on the remainder sum. Since the repayment sum increases every two years, so does the interest rate.
Extended Repayment
With up to 25 years to repay the entire sum, it is easy on the budget for salaried professionals with modest income. Obama Student Loan forgiveness comes for borrowers who have USD 30,000 in Direct Loans availed after October 2007.
Income-Based Repayment (IBR)
Same as extended repayment, but the monthly repayment is capped at 15 percent of the discretionary income. It is automatically adjusted based on the income to ease the burden on paying for a long time. Federal Student loan forgiveness is applicable to borrower with partial financial hardship, ensuring that he/she enjoys more benefits than Standard plan.
All repayment plans are applicable to borrowers availing loans from Federal agencies.
A look at Nursing Student Loan Forgiveness Programs
Nursing is known as a noble profession, the selfless individual who take the profession of serving the mankind surely need some help and encouragement from the society. When it comes to helping them there cannot be a better way than Loan Forgiveness Program for Nurses. The best news is that in United States Nursing student loan forgiveness program remain widely available via various State and Federal financial aid programs, so no matter where you work as nurse in US, you are sure to get some kind of loan relief.
The benefits are determined on the basis of their position like Registered Nurse, Nurse Practitioner etc. The level of education is also a major criterion.
A look at Federal Loan Forgiveness for Nurses
Mainly, there are three major federally funded schemes under which nurses can avail loan forgiveness benefits. These includes:-
1 NURSE Corps Loan Repayment Program also known as NHSC
2 Public Service Loan Forgiveness Program
3 Perkins Loan Discharge/ Loan Cancellation for Nurses
1 NURSE Corps Loan Repayment Program:
NELRP was specially designed to meet the financial education needs of Registered Nurses working in underserved clinic and hospitals. The word underserved here means that Federal Government is ready to pay Registered Nurses for working in poor rural and urban communities. The reason is that most nurses don’t want to work in such places. To avail the benefit the nurses need to apply and go through a systematic selection process to be eligible for the benefits.
How NELRP works:
- Nurses with two years experience at a facility that recognized by the Federal Government qualify to get 60 percent pay off on their nursing loan.
- For one additional year of service, the Federal government proposes to pay another 25 percent of the balance loan amount.
2 The Public Service Loan Forgiveness Program
It is available to nurses employed in a fulltime basis in public services jobs like education, health care, state employees etc. The student nurse borrower needs to pay 120 monthly installments, means paying loan continuously for 10-years, after the payment the borrower is entitled for remaining loan forgiveness.
3 Perkins Loan Cancellation for Medical Technicians and Nurses
Most of the people are not aware that Perkins Loan Cancelation is available for Medical Technicians. It is the reason that very few medical technicians have availed the loan. If you are one of the few ones who have availed the loan then here is how you can get the loan forgiveness.
- Nurses who qualify for Perkins Loan benefit can apply for forgiveness after completing five years experience in the nursing filed. The best part is that you can have your entire loan discharged.
- The wonderful thing about the program is that it also offers incremental forgiveness. The student nurse borrower can apply for some part of the loan to be forgiven after completion of service every year. It makes it the most unique forgiveness program available for nursing students.
A look at Nursing courses in USA covered under Forgiveness Schemes
Nurses had a hard time beating away the chaotic loan repayment schemes of the 80s and the 90s. Some of them continued to struggle under the burden off high interest rates, poor expense planning and minimal federal support in nursing profession. Obama Forgiveness scheme for nurses and teachers introduced recently has come as a potent saviour for federal education loan borrowers. It not only saves the nurses from high interest rates and prolonged loan clearance, USA is one of the few nations to offer forgiveness schemes.
Forgiveness program in USA on nursing career is available only for naturalised or permanent US residents. Government is trying to figure out if the same forgiveness benefits can be extended to international students who contribute to 27 percent of the total nursing force in USA.
Here are some programs in nursing that are currently covered by the Loan repayment schemes for nurses, both registered as well as licensed professionals.
– LPN LVN Programs
Nurses taking educational loans to complete LPN or LVN which stands for Licensed Practical Nurse or Licensed Vocational Nurse respectively can opt for federal loans. The duration is one year and is offered across many colleges in USA. Admission into these programs needs that student pass ACT, TOEFL or SAT.
A nurse passing with LPN LVN Program earns USD 40,000 as a vocational nurse. Further educational prospect includes an opportunity to apply for AAS which stands for Associates in Applied Science.
ADN Programs
ADN program is available under Loan repayment scheme as well. Nurses can earn Associate Degree in Nursing under the 15-24 month course. ADN nurses can treat, train and provide psychological care to patients. Nurses have to pass the National Council Licensure Exam to earn a license of nursing.
Average annual salary expectation of a nurse from ADN program is around USD 62,500.
– BSN Course
High-schools students can pursue their career in nursing by earning a degree in BSN which stands for Bachelor of Science in Nursing. It is a 4-year program and offered by specialized medical colleges & universities in the country.
Nurses from ADN and BSN courses have similar starting pay scale. The Obama Forgiveness schemes have most nurses from these programs.
Due to shortage of both time and money, students in USA prefer to go for a special BSN course. It is called Accelerated BSN Course which runs for less than two years. Usual tenure is 15-18 months. Only a handful of colleges offer the course with a regular BSN course.
MSN Programs
Advanced studies in nursing can be pursued from leading colleges in the country. The federal loan agencies offer forgiveness to the nursing professionals from following disciplines.
– Women’s Health Nurse Practitioner
– Paediatric Nurse Practitioner
– Family Nurse Practitioner
– Nurse Educator
– Neonatal Nurse Practitioner
– Adult Nurse Practitioner
It is the most competitive segment in nursing with forgiveness coming in less than 4 years. Average salary package for a nurse availing Student Loan Forgiveness for nurses is USD 81,000.
Other programs that are covered under forgiveness schemes are Certified Registered Nurse Anesthetist & Doctor of Nursing Practice programs.
How to smartly plan Obama Debt Forgiveness to Reduce Student Loan Debt
If you are reeling under or are planning to take a student loan to complete your graduation, this article will be a great help. Written with an intention to help you find different ways to keep your loan repayment cost, do your initial research on the federal loans and the Obama student loan debt repayment based on these tips.
1. You can’t be discharged
Before taking up the student loan amount, you must make up your mind about the repayment terms and conditions. No matter how voluminous and serious your hardships are; the chances of earning a discharge from the loan repayment are almost next to impossible. Hence, always focus on making the repayment of principal sum. This is where Obama Student Loan debt forgiveness program comes handy.
2. Pay on time, Don’t accumulate deferments and Forbearance
Payment of interest on time has a significant impact on your credit score. Even with the Obama debt forgiveness scheme in place, you may not earn the rightful benefits at the end of 25th year, if you defer or fail to pay a particular month’s interest. Since the program is still in initial decade, the prospects and repercussions of non-payment or deferments are yet to be seen.
3. Always start with a healthy Principal repayment
Whenever you get hold of handy sum, make the payment towards your principal amount. If you are paying the sum more than your minimum interest, the Obama debt forgiveness program will begin earlier than you would otherwise qualified for. Tackle your principal amount and you never have to worry about interests accumulating in the account. It helps lower your interest payments as well in the future.
4. Gear up for the public sector career
Most student loan borrowers fail to acknowledge the importance of grabbing a job in the public sector. If you have a hefty sum behind you as student loan, a public commission role can earn the forgiveness in 10 years. Public Service Loan Forgiveness is a systematic plan under the Obama student loan debt forgiveness program. You can opt for a role in either federal agencies or in Non-profit organizations listed with the federal government across USA.
As of now, close to 35 million US citizens are eligible for the Obama Student Loan debt forgiveness but only a handful; of them are aware about the opportunities.
5. Enquire about other forgiveness schemes
In USA, there are over 60 registered student loan forgiveness programs. Some employers also extend the student plan repayment programs to their prolific employees. Enquire about these loan repayment supports. Obama student loan debt forgiveness continues to be the most sought after scheme of the decade anyhow. The other prominent forgiveness scheme includes loan forgiveness for nurses and student loan forgiveness for teachers.
6. See a consultant if need be
Don’t rely too much on the information available on sites that offer quick fix guides. Search extensively on the government sites and then move to a consultant for more accurate information. You may very well get a tip on reducing the monthly instalment or get a bonus coverage under the Student loan debt forgiveness program.
Obama Student Loan Forgiveness 