The Beneficiaries of Student Loan Forgiveness

You have to know that there are several programs that are available for you to pay off all or even just part of your college loans. Yes, student loan forgiveness is not just a figment of your imagination. Many of these programs are not advertised though. The sad part is that majority of the people who are eligible don't even know that they are qualified to have thousands of dollars wiped off from their educational loans. Click here for more info.

Student Loan Forgiveness for Teachers
About $17,500 would be repaid for college loans of qualified teachers under the Teacher Loan Forgiveness Program. Full-time teachers who have a direct loan balance or outstanding FFEL may avail of repayment after 5 consecutive years of service. Want to  combine student loans with spouse ? click here to find out how!

The increased amount of $17,500 may be availed by qualified borrowers who are teaching full-time in mathematics or science at an eligible secondary school. This includes those who teach students with various disabilities.

For Non-profit Child or Family-Service Agency Employees
The federal government has come up with programs that forgive 100 percent of college loan balance for individuals employed in such eligible centers. This is intended to attract and also to retain the early child care professionals who have been highly trained in the field.

To be able to qualify for this student loan forgiveness program, the borrower should have a degree in early childhood education and also have worked for full-time for a period of two years in a qualified institution. Such facility has to have 70 percent of the children receiving care from families that are earning less.

For Law-enforcement Officials
The people who protect and also serve the community would also be served and protected by the government by repaying the college loans. Full-time law enforcement and correction officials are eligible to have their loans paid off by the government at 15 percent every year for their first two years of service, 20 percent for the third and fourth years, and 30 percent for the fifth.

For Nurses and Medical Technicians
There are various general student loan forgiveness programs that are available for doctors and RNs who are practicing in many areas that don't have enough medical care. For these individuals, the National Health Services Corps would repay up to $35,000 every year for service for individuals who qualify. There's also the Nursing Education Loan Repayment Program that repays up to 60 percent of the college loan amount for those who have served for at least two years in the critical areas.
  
To read more about this, go to http://en.wikipedia.org/wiki/Student_loan .