Public Service Workers—Get Your Federal Student Loans Forgiven
While this loan forgiveness program isn’t a new law, its regulations were clarified this year to take into account the peculiarities of employment in academia and most of the public service sector, noted for its use of part-time labor. You can combine your workload from multiple nonprofit institutions to meet the 30-hour standard. You can average your work across the employment year to meet the minimum. You also qualify if you work eight months a year but are counted as having worked a full year by your employer.
The Academe Blog has a servicey post about how to use the Public Service Loan Forgiveness Act, which forgives federal direct loans for those who work full-time (at least 30 hours a week) in federal, state, or local government agencies or tax-exempt non-profit organizations after making 120 monthly on-time payments on your loans. You can read more generally about this at the Federal Student Aid site.
See also: This piece written for us by Theresa.
Photo: Weekly Dig