Every semester students enroll and drop out of college classes, racking up the number of people who will have to pay off student loans. The amount of payment accrued by students is increasing steadily, and the number of people defaulting on their student loans rises as well. There are many student loan programs out there to help you pay off your student loan debt as easily as possible.
Loan forgiveness programs, such as Americorps, help many people pay off their student loan debt. State and federal initiatives can help people with professions such as teachers, nurses, and doctors with their debt.
The Student Debt Repayment Assistant can help you figure out which repayment plan will best suit you. All you have to do is answer a few questions on your type of loan (federal or private), how much you owe and can pay at a time, and a few others and you will be matched with options which are likely to fit your needs.
There are some loan forgiveness programs which are available to graduates with loans borrowed after certain dates. Forgiveness programs such as the Indian Health Service Loan Repayment Program help people in the medical field such as licensed dentists, doctors specialized in medicine, and psychiatrists get up to four hundred thousand dollars in forgiveness.
Veterinarians also have a variety of forgiveness programs specifically for their profession. Programs such as the Kentucky Large/Food Animal Veterinary Incentive Program helps veterinarians pay off their student loan debts. The Kentucky Large/Food Animal Veterinary Incentive Program gives upwards eighteen thousand dollars towards outstanding student loans for people who work with animals.
The US Department of Agriculture’s Veterinary Medicine Loan Repayment Program pays up to twenty five thousand dollars a year to veterinarians to help them pay off their student loans. Over seventy veterinarians have received funding through the US Department of Agriculture’s Veterinary Medicine Loan Repayment Program.
It is important that you do not sit around and let your student loan debt pile up with the intention of using a forgiveness program to wipe them clean, as they are not guaranteed, but student loan forgiveness programs may greatly help you. With the use of student loan forgiveness programs you will find yourself on the road to paying off your student loans at your own pace. For more helpful tips and information on paying off your student loans check back frequently on our blog.