It is an unfortunate truth that most people will need some type of financial assistance to get the college education they desire. Without the proper education, though, it can be difficult to get the high-paying job you need to make ends meet. This often means students need to take out student loans so they can afford to go to college. As long as you have the right kinds of loans, though, you can qualify for Alaska student loan forgiveness.
Time Frame
Perhaps one of the most important parts of the federal loan forgiveness program is the timeline under which the program operates. To qualify for this loan forgiveness, you will need to make at least 120 payments. This will take you at least 10 years. However, because this program was instituted in 2007, you must make 120 payments from that date. This means if you have student loans you will pay off before 2017, even if you have made the proper number of payments, you won’t qualify.
Areas of Work
Not all jobs will qualify for these Alaska student loan forgiveness programs. In fact, you will need to be working in very specific fields, particularly public service. Because these fields are struggling to find qualified individuals to work, the government wanted to encourage college students to aim for these types of jobs. It is important to make sure you understand exactly which jobs qualify for loan forgiveness.
Types of Loans
In addition to working in the right field, you must also have the right kind of loans to qualify for loan forgiveness. If you are considering applying for student loan forgiveness, it is important to consult with a company that specializes in these programs so you can find out if your loans qualify. In many cases, people will pay off their loans within 10 years anyway. If you won’t, it is up to you to figure out if you qualify.
The Alaska student loan forgiveness programs are designed to encourage students to enter into careers of public service. This means you must work one of these jobs for the duration of the 10 years to qualify for this type of forgiveness. In addition, you must make the proper number of payments within the appropriate time frame. Talking to a company that handles these programs will help you find out if the loans you have qualify.
