Public Service Loan Forgiveness Program

I’m a Veteran and Want to Go Back to School to Teach But Get My Loans Forgiven

Written by Steve Rhode

Question:

Dear Steve,

Applying for missing benefits, orders, and Voc Rehab. No income while awaiting I.T. school and transition. Loans compounding since 1991.

Navy Veteran of 25 years looking to teach STEM courses and leadership. Are there any loan forgiveness and cancellation programs?

I can not make 120 on time, monthly payments.

Thank you for your consideration.

R

Answer:

Dear R,

I’m guessing you have federal student loans and you are looking for some program to eventually have those loans fully forgiven.

It sounds like you are talking about the Public Service Loan Forgiveness program since you mentioned the 120 payment issue.

The Department of Education has a very nice online tool to use to see if your loans can even be included in the PSLF program. Not all loans are eligible.

To be eligible you’d also have to work for a qualifying employer.

Now you may also to look at the Teacher Loan Forgiveness Program that can provide a partialforgiveness.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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