Candidate Richardson Suggests College Loan Forgiveness
Posted 13 Sep, 2007
If presidential candidate Bill Richardson gets his way, students will be rewarded for service to their country in a way that counts financially.
While in New Hampshire on Labor Day weekend, Richardson stated that he thought that the United States should offer incentives to students who give back to their country. In his mind, a year of national service should garner a few years of loan forgiveness for a college grad.
Interestingly enough, Richardson’s idea of “service” wasn’t limited only to the armed forces. He also included service such as working in or cleaning forests and hospital work. That would mean an opportunity for loan forgiveness even for students who aren’t cut out for military service.
Did you know that the federal government and several schools and organizations already offer loan forgiveness? For example:
- Organizations like AmeriCorps, the Peace Corps, and VISTA all offer loan forgiveness for given lengths of service.
- Graduates who become full-time teachers for an area of low-income families can have a portion of a Perkins Loan forgiven.
- Some schools forgive the loans of students who practice law in public interest or non-profit positions.
- Those who practice medical professions in areas that have medical care shortages can receive loan forgiveness through the US Department of Health and Human Services.
For more information on loan forgiveness, you may want to visit the following websites:
StudentAid.Ed.gov – Teacher Loan Forgiveness Program
National Institute of Health – Loan Repayment Program
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding, a nationwide company that helps families find creative ways to reduce their college costs.
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If presidential candidate Bill Richardson gets his way, students will be rewarded for service to their country in a way that counts financially.
While in New Hampshire on Labor Day weekend, Richardson stated that he thought that the United States should offer incentives to students who give back to their country. In his mind, a year of national service should garner a few years of loan forgiveness for a college grad.
Interestingly enough, Richardson’s idea of “service” wasn’t limited only to the armed forces. He also included service such as working in or cleaning forests and hospital work. That would mean an opportunity for loan forgiveness even for students who aren’t cut out for military service.
Did you know that the federal government and several schools and organizations already offer loan forgiveness? For example:
- Organizations like AmeriCorps, the Peace Corps, and VISTA all offer loan forgiveness for given lengths of service.
- Graduates who become full-time teachers for an area of low-income families can have a portion of a Perkins Loan forgiven.
- Some schools forgive the loans of students who practice law in public interest or non-profit positions.
- Those who practice medical professions in areas that have medical care shortages can receive loan forgiveness through the US Department of Health and Human Services.
For more information on loan forgiveness, you may want to visit the following websites:
StudentAid.Ed.gov – Teacher Loan Forgiveness Program
National Institute of Health – Loan Repayment Program
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding, a nationwide company that helps families find creative ways to reduce their college costs.
Subscribe in a reader
Subscribe by Email
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