How to Get Student Loans Forgiven

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The National Health Service Corps pays up to 25,000 a year for licensed individuals (MDs, PhDs, LMHCs, DDS) who agree to serve in specific areas of need for two years. They update the list weekly. One of the provisions is that you already have the job before applying to the NHSC.

States also offer loan forgiveness programs in areas such as social work, law (if you become a district attorney in a high turnover district), and teachers in areas of need. However some states have cut those forgiveness programs due to a lack of funding.

One important point about loan forgiveness and repayment, if I'm not mistaken it's treated as taxable income.

Veronica of NY 5:06PM July 29, 2008

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Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.

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