Loan Forgiveness for Public Service Employees

by Dual Income No Kids on August 31, 2009 · 0 comments

We wanted to share with our readers a relatively new program that isn’t widely known about from as far as I can tell.

The Loan Forgiveness program for Public Service Employees is a program where after 120 payments, or ten years of minimum payments on student loans, they are eligible for forgiveness.

The program started in October 2007, so the first loans will be forgiven in 2017.

Federal, state, or local government employees are eligible as well as those working for qualified 501 (c) (3) non-profits.

If you might be eligible, check out the regulations to make sure you set yourself up right. You will need to consolidate your loans.

I of course wish that I would have been patient to wait, but it still feels good to have them paid off and to start building up my wealth without that liability to worry about.



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