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Federal student loan forgiveness programs are issued for exceptional circumstances. Be sure your federal student loans are really bad before you consider student loan forgiveness programs. They won't wave a magic wand and you can walk away scott-free. No, you have to work for these babies. And often, they will not pay the entire loan off, just part of it. Here are the eligibility requirements for student loan forgiveness:
You are eligible if you are doing a lengthy spot of volunteer work from only these three volunteer groups:
Peace Corps
You are also eligible for federal student loan forgiveness programs if you are in the military, including the National Guard. You are also eligible if you are a teacher in certain low-income areas (including the entire state of Mississippi). You must contact the American Federation of Teachers for the most recent eligibility list.
Unusual Areas of Student Loan Forgiveness
For some reason attending certain schools or getting certain loans can make you eligible for forgiveness programs. Since these programs change, you need to always check these out before committing to anything. If you attended Baker University's Colleges of Arts And Sciences in Kansas, you're probably eligible. No reason.
If you studied law enforcement, penology, parole and probation or law in Alaska under the benefit of the Michael Murphy Loan, you are also eligible.
If you work for the state of Maryland and make less than $40,000 before taxes per year, then you are also eligible for student loan forgiveness.
If you studied nursing, you also may be eligible for partial repayment of your student loans, especially if you are with the National Health Service Corps. You need to double check with the Nursing Education Loan Repayment Program.
Provided by Rich Henderson
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