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What Is Student Loan Forgiveness?

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Some students may not be aware of student loan forgiveness and how it can help them eliminate some of their college debt. Loan forgiveness for college students is typically tied into certain professions, military duty, and volunteer work, making it a no-brainer for students who are already pursuing these careers and activities. It’s important that graduates in these roles realize that student loan forgiveness may be able to alleviate some of their financial obligations.

The federal government backs student loan forgiveness programs and President Obama is also a supporter. Public service workers, teachers, lawyers, medical professionals, and members of the military are a few of the key occupations approved for the loan forgiveness program.

Some employers may also offer loan repayment programs, helping to offset the financial burden of college loans. More readily available than forgiveness programs in most cases, repayment programs can help to offset any kind of college loans. Employers may send the money directly to the lender or they may provide their employee with funding to apply toward the loans.

Student loan forgiveness and student loan repayment programs can dramatically improve one’s quality of life and their financial situation. It’s a great idea to look into these programs and see if anything might be available for your particular situation.

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