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September 20 2014


Lots of Student Loans? Look Into Public Sector Jobs

Student debt can be overwhelming. If you are just graduating college, and are saddled with a lot of student debt, you should look into a career in public service. A career in public service will allow you to participate in federal student loan forgiveness obama program. After ten years of public service and 120 on time loan payments, the rest of your loans will be forgiven. If you are overwhelmed by how much you took out to go to college, this is a great option to look into.

Many jobs fall into the public service category. Virtually all government jobs, excluding being a member of Congress, fall into the public service category. You can work in a large variety of capacities for the government, including working in public schools, college and serving in the military. State, local and tribal government jobs also fall into the public service category. As does jobs for 501(c)(3) nonprofit organizations as well as tribal college and university jobs. Within these categories, there is endless job potential. Plus, government jobs usually offer great health care and retirement benefits. There are jobs for just about every major that fall under the public service category.

Student Loans

In order to qualify for the Student Loan Forgiveness, you must work within the public service sector for ten years. You do not need to work for the same employer for ten years, nor do those ten years have to be consecutive. You just have to work for ten years total in the public service sector full time, which is legally defined for this program as at least thirty hours per week.

During those ten years, you only have to make your student loan payments on time. You have to make, in total, 120 payments in order to qualify for the forgiveness program. Periods of deferment or forbearance do not count towards your 120 payments. Only payments after October 2007 count towards this program. You make income based or graduated payments.

Only federal loans qualify for this program. This includes Federal Direct Consolidation Loans, Federal Direct PLUS loans, Federal Direct Stafford Loans, both subsidized and unsubsidized. If you are in the Direct Loan program you do not need to consolidate your loans. However, if you are in the FEEL program, you will need to go through a Student Loan Consolidation process and change all of your loans into Direct Loans.

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