April 16, 2009 | | 17 Comments Here’s a little bit of sunshine in the midst of the recession storm. Under the College Cost Reduction and Access Act of 2007, students heading into public service careers can decrease, or eliminate altogether, their student loans. To mitigate the financial cost of schooling and the low pay in the public sector, the federal government will either reduce loan payments based on family size and income or forgive loans completely. Those public service jobs aren’t looking too shabby now, are they? Now that I’ve got your attention, the careers that will benefit from this program include military, volunteering, teaching, and legal or medical practice in under-privileged areas. Considering the stability that we currently see in these careers, this is definitely something to look in to. You won’t be a millionaire, but you will have a job and you won’t have to sweat over your student loan payments. For all of the boring (but important) info on how this works, click here.