| How Student Loan Forgiveness Programs May Help | | | | with private, non-profit groups whose mission is to |
| Reduce Your College Loan Debts | | | | eradicate hunger, homelessness, poverty and illiteracy. |
| Performing volunteer work, teaching in certain school | | | | Peace Corps: Volunteers that have outstanding |
| districts or within certain areas,Visit Here by providing | | | | Perkins Loans can receive a 15% cancellation on the |
| legal and medical services, you can help yourself in | | | | debt owed for each year of their first two-year |
| paying down your student loan debts by trading the | | | | service term and a 20% loan cancellation for their |
| skills you learned by going to college and geting your | | | | third and fourth years of service. Participants can |
| degree. | | | | receive up to a 70% cancellation on Perkins loans. |
| Students leaving college and entering the work-world | | | | Military Service: The Student Loan Repayment |
| often complain of being confronted by overwhelming | | | | Program (SLRP). Under the Student Loan Repayment |
| frustration of having to pay enormous student loan | | | | Program, when you enlist the Army will pay back up |
| debts and not really knowing how to tackle that | | | | to $65,000 in qualified education loans (up to $20,000 |
| debt. | | | | for reservists), the Navy up to $65,000 and the Air |
| By participating in some of the following programs | | | | Force up to $10,000. |
| open to certain skill sets and occupational fields, you'll | | | | Legal and medical studies: Studying medicine or law |
| have an opportunity to see the world and help | | | | often equals racking up tens of thousands additional |
| others at the same time. | | | | dollars of debt. There are law schools which provide |
| Teachers: Some student loans can be cancelled or, as | | | | loan forgiveness to those students who volunteer to |
| it's more commonly referred to, "forgiven," if the | | | | serve in the public interest and/or work for non-profit |
| college degree leads to or complements a job in the | | | | organizations. |
| teaching profession. Up to $17,500 of your student | | | | Student Loan Relief for Active Duty Military |
| loan balance might be cancelled. | | | | Personnel: On August 18, 2003 , President Bush |
| Americorps: This organization is the domestic arm of | | | | signed the Higher Education Relief Opportunities for |
| the Peace Corps, and it offers up to $7,400 in living | | | | Students Act (HEROES). |
| stipends. Will pay approximately $4,725 in education | | | | For more information about student loan discharge, |
| awards upon completion of one year's successful | | | | contact the Direct Loan Servicing Center at |
| service. | | | | 1-800-848-0979 if you have a Direct Loan. Contact |
| Nurses: Repayment assistance (not a discharge) is | | | | the lender or agency that holds your loan if you have |
| available through the Nursing Education Loan | | | | a FFEL. If you borrowed using a Federal Perkins Loan, |
| Repayment Program (NELRP) to registered nurses in | | | | contact that particular school which made the loan. |
| exchange for service in eligible facilities located in | | | | We've compiled a list of helpful websites and useful |
| areas experiencing a shortage of nurses. | | | | links to make your search easier at our website. |
| Volunteers in Service to America (VISTA): Volunteer | | | | |