loan forgiveness

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anjmissy
Posts: 280
Joined: Tue Apr 13, 2010 9:40 am

loan forgiveness

Postby anjmissy » Tue Dec 06, 2011 9:49 pm

So if i have plans to go into public interest law and do the loan forgiveness 10 year path, is it really even relevant for me to worry about the tuition of the school..this is because I may get a lot of $$$ from a school ranked in the 70s but I got in Washington and Lee and I'm not sure if I'll get any..btw W&L tuition is about $40k a year. What would you all do?

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89vision
Posts: 431
Joined: Sun Oct 09, 2011 5:49 pm

Re: loan forgiveness

Postby 89vision » Wed Dec 07, 2011 11:37 am

Keep in mind that only federal loans are forgiven.

"Under this program, you may qualify for forgiveness of the remaining balance due on your eligible federal student loans after you have made 120 payments on loans under certain repayment plans while employed full time by certain public service employers."

http://studentaid.ed.gov/PORTALSWebApp/ ... sh/PSF.jsp

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mrtoren
Posts: 733
Joined: Wed Dec 29, 2010 9:43 pm

Re: loan forgiveness

Postby mrtoren » Wed Dec 07, 2011 12:51 pm

Never plan on loan forgiveness programs to save you from your debt. In today's economy, they could be wiped out in a single stroke of the legislature's pen..or funding for them could simply run out. Finding PI/Gov work can also be challenging. Its not like the market of ten years ago where those jobs could be snatched up by anyone who wanted them. A lot of graduates with high loans have the exact same idea as you. Even if you land a PI/Gov job, there's no guarantee that you'll be there for the full ten years it takes to earn the forgiveness. You quit or get booted even one month short and you'll shoulder the entire loan burden.

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Aberzombie1892
Posts: 1907
Joined: Sun Mar 29, 2009 10:56 am

Re: loan forgiveness

Postby Aberzombie1892 » Wed Dec 07, 2011 12:56 pm

mrtoren wrote:Never plan on loan forgiveness programs to save you from your debt. In today's economy, they could be wiped out in a single stroke of the legislature's pen..or funding for them could simply run out. Finding PI/Gov work can also be challenging. Its not like the market of ten years ago where those jobs could be snatched up by anyone who wanted them. A lot of graduates with high loans have the exact same idea as you. Even if you land a PI/Gov job, there's no guarantee that you'll be there for the full ten years it takes to earn the forgiveness. You quit or get booted even one month short and you'll shoulder the entire loan burden.


+100 thousand, million, billion, trillion.




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