Monday, February 4, 2013

Programs to Assist With Federal Loan Repayment

Listed below are federal programs that will assist you in repaying your federal student loan debt in return for your service commitment.
U.S. Office of Personnel Management Student Loan Repayment Program In order to recruit or retain certain federal government employees, federal agencies may pay federal student loan holders up to $10,000 a year to be applied toward loan repayment, not to exceed $60,000 for any one employee.

National Health Service Corp Loan Repayment Program Primary care medical, dental and behavioral and mental health clinicians who provide care to the underserved may have an initial award of $50,000 for 4 years of service.

Armed Forces Student Loan Repayment Program Depending on which branch of the service, you may have up to $65,000 of your eligible student loans repaid.

Health Professions Faculty Students from disadvantaged backgrounds who agree to serve on the faculty of an accredited health professions college or university for two years may receive up to $40,000 towards the repayment of their student loans.

John R. Justice Student Loan Repayment Program The JRJ provides for the repayment of eligible educational loans on behalf of eligible state and federal prosecutors and public defenders, up to a lifetime total of $60,000.

Federal Loan Forgiveness Program for Teachers - Certain teachers can have a portion of their Federal Stafford loans forgiven through the Federal Loan Forgiveness Program for Teachers.


For other repayment options go to: http://studentaid.ed.gov/repay-loans/understand/plans/income-based





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