Heard a rumor about college loans

Discussion in 'Teacher Time Out Archives' started by joyoakes, Aug 9, 2005.

  1. joyoakes

    joyoakes Rookie

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    Aug 9, 2005

    A teacher that I know said that she heard that there were a couple of programs that will pay back your school loans. Does anyone know anything about this?
     
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  3. alilisa

    alilisa Habitué

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    Aug 9, 2005

    You have to have a specific loan or grant and work in an extremely poor socio-economic area. I have heard of people being able to do this, but I didn't have the right type of loan to qualify. Check with the place that has your loans or your former school/college; they might be able to help you!
    Good Luck :)
     
  4. jpre-k teacher

    jpre-k teacher Companion

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    Aug 10, 2005

    The only ones I've seen were for Perkin's loans. I've never seen any that forgive Stafford loans, or believe me I would have done it! :) Has anyone ever heard about or done a program that forgave loans other than Perkins?
     
  5. Mrs.SLF

    Mrs.SLF Comrade

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    If you look on the department of education's website and search for loan forgiveness you can find information about what the government will do to help forgive your loans. You have to work in certain schools to qualify and they have a way to search if your school is included and I believe you have to work for 5 years at one of these schools in order to receive the forgiveness. I also believe the forgiveness for 5 years is 5k. I am also pretty sure this includes federal Stafford loans and not just Perkins. Hope this helps!---Also, the schools are not necessarily completely poor as far as its students are concerned but they would include members from lower socio-economic areas--I have seen some of the schools on the list and personally know the areas and they are not the stereotypica poor area portrayed on television. I think some of the schools are also on the lists because they do not meet adequate standards from NCLB. Here is the link for the website to seach schools: http://bcolp01.ed.gov/CFAPPS/FSA/tcli/2004/searchpage.cfm
     
  6. jpre-k teacher

    jpre-k teacher Companion

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    Thanks! I'm thinking about relocating next year, and that gives me something to consider.
     
  7. teacherece

    teacherece Cohort

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    Aug 11, 2005

    sstager
    thanks for the link...you were right, there are alot of schools included. it's worth a try :thanks:
     
  8. Mrs.SLF

    Mrs.SLF Comrade

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    No problem! I do tons of researching in my spare time and that includes ways for me to save money while doing something worthwhile! I am glad I could be of assistance...good luck!
     
  9. joyoakes

    joyoakes Rookie

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    Aug 12, 2005

    :thanks: :D Thanks so much to all of you. I have told some fellow students this information and they are so excited!!! You all made our week!!! I love this site, it is wonderful!!! Everyone on here are like :angel: 's. Helping everyone when they can!!!

    Joy
     
  10. Irissa

    Irissa Cohort

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    Aug 12, 2005

    Joy if your still in colege check with your advisor we use to have tons of information on florida's pay back/loans. I know if you rae in a critical need area florida has some options for you.
     

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