Learn More About Loan Forgiveness for Government Employees
It is well known that student loan debt can be crippling. Fortunately, there are programs in place to help you pay back your loans, including programs that can forgive your debt after a period of time. If you are employed by any government agency on any level, you may find yourself in a favorable position when it comes to loan forgiveness. Look into loan forgiveness for government employees. The Public Student Loan Forgiveness program is available to you – the government employee. It’s never been easier or more streamlined to do so, and the potential benefits are immense.
In terms of the Public Service Loan Forgiveness program, things couldn’t be more simple. If you work for the government on any level, be it federal, state, local, or tribal, you could be entitled to complete forgiveness after the prerequisite terms are met. As with most borrowers eligible for this program, you must be employed full time, or working at least 30 hours a week.
Beyond this, it’s a simple matter of using the right income-based repayment program to make 120 payments based upon your income. In practice, this process takes ten years. While the time frame may seem a touch daunting, it’s the choice between paying your loans in full or paying for ten years, upon which time you will receive a full refund in non-taxable income.
Unfortunately, the Department of Education’s information on applying for this program is hard to understand and navigate. It’s difficult to find exactly what you need to properly apply, as it seems to be buried under government jargon. Luckily, we’ve made it easy for you to find the information on loan forgiveness for government employees that you need.
Enter the PSLF Program
The Public Service Loan Forgiveness program is considered to be the best in its class in the entire country, and if you’re an employee of the government, seeking it out should be a no-brainer. Full-time government employees can easily seek this kind of aid, as the prerequisites for employment become as flexible as they can possibly be. Seek out loan forgiveness for government employees to see what you can save and boost your finances so that you can focus on pursuing your dream career.
We know understanding all the rules of the Public Service Loan Forgiveness program for government employees can be confusing. Contact us today for help with the process!