College graduates who quickly want to be rid of their student loan financial aid debt often seek student loan forgiveness options and while in the past there were few alternatives to paying your debt in full, an expansion in student loan forgiveness may help many college graduates looking to shake off that old student loan debt.
Federal student loan forgiveness now extends to college graduates that are working in public service occupations, which means they may qualify for forgiveness of their loans after 10 years, while others not in public service occupations would be forgiven after 25 years, if steady payments were made.
Looking into your career field to see if any loan forgiveness is offered, or if you are not yet a graduate, looking to build a career in jobs like teaching or working for a federal government department or organization may bring about forgiveness in a more timely manner. Some occupations will repay student loans for every year of service, with some jobs paying back thousands of dollars each year if not more.
College graduates, no matter if you are set on a specific field as a career or not, may want to do some research and inquire about options or jobs available that might offer student loan forgiveness at a faster rate than those for service occupations.
While it isn’t always common, there are ways that graduates can get their loans repaid or forgiven, just take the time and look for these options specific to your situation.