Alaska student loan forgiveness is one of the most exciting things for students today. Most students have dug themselves deeply into debt with little hope of ever paying off the tens of thousands of dollars it took to get them a bachelor’s degree alone, let alone a higher degree. A bachelor’s degree alone does not make a lot of money, especially with the job market being what it is in this economy. But there is hope. Alaska student loan forgiveness is a great opportunity for students everywhere to give back to their community and be rewarded for their tireless efforts.
What Is Loan Forgiveness?
Alaska student loan forgiveness is a federal program that went into effect in 2007 that is designed to help those students who do not work in high-paying jobs but still make their payments. If, after graduation, a person makes 120 monthly payments, the rest of their student loan payments will be completely forgiven. That’s right; the government will cover the rest of your student loan balance.
What’s the Catch?
The point of this incentive is to reward those who have gone into low-income, but well-meaning jobs. The only catch is a person must be working full-time in a public service job. This may seem extreme, but you may be surprised how many careers count as public service. These can be everything from teachers working in public school, from kindergarten to college, non-profit organizations, the military, and nurses. Even working at a public library counts. Work in a public service position, pay your loans for 120 months, and the final balance is completely forgiven.
The Meek Inherit Less Debt
This is really exciting for students. Alaska student loan forgiveness gives a lot of hope to people who thought they would spend their entire lives paying back money for an overpriced education that did not even get them a high-paying job. Now, the government is saying they will reward you for all your efforts. Keep your word by paying your loans back in time and be honorable and giving by having a career that might not make you as much as others but will give back to your community a plenty.
Read more about this wonderful opportunity. If you are still in school, consider making your specialty a career path that will help you become someone special in the public service field.
If you have not consolidated your loans previously, American College Counseling, Inc. offers student loan consolidation services. Visit Collegeloanz.org for read more.