In coming to the end of my current educational pursuit, I’ve started the process of assessing my student loan damage. Like some of you, or your friends and family, mine is hefty – but manageable, in part, thanks to the Federal Student Loan Forgiveness Program.
The program has many requirements, but is worth looking into if you know someone working for a nonprofit with significant student loan debt. While I am still sorting out the details myself, you may find this information of interest to you or your staff:
“What types of public service jobs will qualify a borrower for loan forgiveness under this program?
The borrower must be employed full time (in any position) by a public service organization, or must be serving in a full-time AmeriCorps or Peace Corps position. For purposes of the Public Service Loan Forgiveness Program, the term “public service organization” means –
- A public child or family service agency;
- A non-profit organization under section 501(c)(3) of the Internal Revenue Code that is exempt from taxation under section 501(a) of the Internal Revenue Code (includes most not-for-profit private schools, colleges, and universities);” – from the Federal Student Loan Forgiveness for Public Service Employees fact sheet
Please read through the PDF linked below for more information about the Federal Student Loan Forgiveness for Public Service Employees.