Want Student Loan Relief? Consider Public Service
Borrowers who enter careers in the public sector may be able to get part of their college loans canceled. Here's how.
Question: I've heard that people who take out college loans can have part of the loans forgiven if they work in certain types of jobs. Can you explain how this works?
Answer: There are two programs through which borrowers with federal student loan debt can have a portion of that debt forgiven, or canceled. The first of these is geared toward borrowers who work in public-service jobs while the second is geared specifically toward teachers. In each case eligibility depends largely on the borrower's type of employment and level of income.