Wednesday, August 19, 2015

Public Service Loan Forgiveness Program

Pixabay free image
You went to college, maybe got a library school degree, and now you're resigned to spending your life paying back student loans, right? Maybe not! Take a look at the Public Service Loan Forgiveness Program - it's designed to give those with student loans a break if they work for a government or nonprofit organization. There are qualifiers for things like the type of loan, type of organization you work for, and amount of time you work, but library services are included!

The deal is that after 120 qualifying loan payments, the remainder of your loans are forgiven. The best part is that this is a retroactive program, meaning any previous qualifying payments you've made can still count toward your total (assuming they were after October 1, 2007).

The program's website, including all the information you need to learn about qualification, is here. While it may seem like an information overload at first, keep reading! It is totally possible get to a point of understanding. You can also work with a company such as Innovative Loan Solutions, which will help you through the entire process.

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