Public Service Loan Forgiveness Program

Public Service Loan Forgiveness Program. It’s a great program to promote public service in Philadelphia and it is “FREE.” The article below is a great explanation of the Public Service Loan Forgiveness Program and it contains several links at the bottom that explains how to get involved. The gist of the program is that it erases all federal loans after ten (10) years of public service, even if a borrower was only paying interest on the student loans during the ten (10) year repayment period. IMMEDIATE RELEASE: August 28, 2013 CONSUMER FINANCIAL PROTECTION BUREAU LAUNCHES TOOLKIT TO HELP TEACHERS AND 

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Heal the sick and erase your student loans.

Health care employees are eligible for a public service student loan discharge of all their federal student loans. The student loan law uses the Bureau of Labor Statistics (BLS) to determine whether a qualifying occupation is eligible for a public service discharge. The following is a list of eligible health care employees who are eligible for a public service student loan discharge:   Athletic Trainers; Attendants; Anesthesiologists; Audiologists; Cardiovascular Technologists and Technicians; Chiropractors; Dentists; Dental Assistants; Dental Hygienists; Diagnostic Medical Sonographers; Dietetic Technicians; Dietitians and Nutritionists; Emergency Medical Technicians and Paramedics; Healthcare Support Workers; Health Diagnosing and Treating Practitioners; Health 

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Public Service Loan Forgiveness

The Public Service Loan Forgiveness (PSLF) Program discharges any remaining debt after 10 years of full-time employment in public service. The borrower must have made 120 payments as part of the Direct Loan program in order to obtain this benefit. Only payments made on or after October 1, 2007 count toward the required 120 monthly payments. What is forgiven? The remaining interest and principal of the borrowers loans are forgiven. How many payments are required? The loan forgiveness occurs after 120 monthly payments made on or after October 1, 2007 on an eligible Federal Direct Loan. Periods of deferment and 

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