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.

17 comments on “Student Loan Reduction and Forgiveness for Public Service Careers

  • I am interesting in attending school but I am 49 years old/divorce with 3 children in school living in a one bedroom apartment. Can you help me get a associates degree.

  • i need help with my cost of loans and cost of living while in school fulltime towards my associates degree in liberal arts towards a phd in humanities further down the road.

  • After receiving a Bachelor’s degree in 1999, I have decided to return to school. I just recently finished one semster and am not able to go back due to financial reasons. It’s very difficult to go to school, have time for your studies, and have enough time to work to pay the bills. I am looking for information about recieving more money towards school.

  • It is difficult trying to go to school and working, especially in this economy. Luckily, there are some options out there that can help you go to school. The stimulus has spent a lot on education. Check out the blog “Stimulus Helping Schools Become More Affordable” and “Worry + Funding College = Stimulus”. If these articles interest you, fill out our lead form and it can help us connect you with financial counselors at individual schools that know the particulars and can help you get enrolled in school.

  • I recently got my AA after 12 years of stopping and starting. I also lost 100 lbs. Anyway my life changed for sure. I am a Realtor by trade and still want my BA so I have the flexibility to get a salaried job just in case LOL.

    Anyway I heard companies dont take online degrees such as from University of Phoenix seriously. AND they will only take 20 out of 60 credits if you want to transfer to a standard school.

    Is this true?

  • Most students borrow federal student loans (like Stafford loans and GradPLUS loans). Students borrow these federal student loans from one of two major federal student loan programs: the Federal Family Education Loan (FFEL) program or the Federal Direct loan program.

  • I think this is one of the worst things that can happen to students. Students should be given as must loan as they want and government should cut the military spendings.

  • After receiving a Bachelor’s degree in 1999, I have decided to return to school. I just recently finished one semster and am not able to go back due to financial reasons. It’s very difficult to go to school, have time for your studies, and have enough time to work to pay the bills. I am looking for information about recieving more money towards school.

  • I would be interested in a continued education for a federal degree program. Would love some feedback on this.

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