The average Floridian college student has over $30,000 dollars in student loan debt. If you are struggling with student loan debts, bear in that student loan forgiveness is possible. There are lots of ways that you can rid yourself of your debts in this state. Knowing your rights in this matter can make it easier to get your finances in order both now and in the long term.
If you have law school loan debt, you can earn student loan forgiveness if you meet certain criteria. In general, you’ll be asked to work with an organization that is getting assistance from the state’s bar. In turn, you may be eligible for up to $5,000 dollars a year in debt forgiveness from the state. You can also work part-time for an organization of this kind and still get the benefit. That’s a good option for lawyers who are carrying a lot of debt and wish to find ways to help lower it.
If You Are a Nurse
Nurses can be relieved of their student loan debts if they work in certain areas in the state. You can accumulate up to $4,000 dollars in loan forgiveness each year. This applies to specific areas of nursing such as Licensed Practical Nurses, Registered Nurses, and those with advanced degrees. Nurses who choose to practice in areas where there is a shortage can qualify for the program. You must work full time in certain places. That can be a school, a hospital, a federally sponsored community healthcare site, a teaching hospital, or a hospital for children as well as other types of facilities.
Another way that you get rid of your debt burden is by engaging in varied forms of community service. This can apply to nonprofit agencies. It can also apply to those who work for the government. In fact, you may be eligible for a full 100% student loan debt forgiveness. Bear in mind there are certain requirements. Qualified applicants must work full time for 10 years. During this time, they must agree to make all necessary payments in full on time. You can also work with the government to pay more of your present income towards the student loans you owe. In turn, that will ensure that you can pay back the principal on the loan a lot faster than you might pay it back over a long period of time. That will save you money on student loan interests and save you from student loan harassment.
These are some of the many legal, modern ways you can reduce or get rid of your student debt in this state. Contact the Law Offices of John Mufson for more information about this process. We can provide you with additional information on how to avoid student loan harassment.