Wouldn't it be great if someone offered you free money to help pay off your student loans? Well guess what? There is money and it's waiting for you!!! Amazingly, there are numerous programs offered by employers, non-profit organizations, universities, and state and federal governments that will give you money, solely to pay off your student loans.
Loan forgiveness programs may be the answer to your loan worries. Here's how they work: You provide a public service that helps those in need--teaching underprivileged children, building homes for low-income families, giving health care or legal services to the disadvantaged--and, in return, the program cancels all or part of your educational loan debt.
We have identified over 350 student loan forgiveness programs as of the date of this writing, and we still continue to find them. Because of space limitations we have only listed of sample of these programs below. To find additional programs search the web using terms like “forgivable loan”, contact your elected official, or go to www.MyAmericanBenfitsPlan.com
$4,725 To $7,400 To Help Pay Off Student Loans
Americorps will reward you with $4,725 to spend on your college debts, and a stipend of up to $7,400 just for joining their volunteer program for one year. For more information, contact the Corporation for National and Community Service Headquarters, 1201 New York Avenue, NW, Washington, D.C. 20525; 202-606-5000; 800-942-2677; www.americorps.org/
Teach For America
Teach for America recruits recent college graduates and professionals to teach school using an alternative certification program. The program makes sure teachers have access to training and resources, and in some cases agreements have been made to allow teachers to work on their Masters at local universities. There are 26 urban and rural placement areas. You get paid a starting teaching salary and earn $4725 for two years to pay back loans or to use for future college expenses. For more information contact Teach For America, 315 W. 36th St., 7th Floor, New York, NY 10018; 800-832-1230; 212-279-2080; www.teachforamerica.org
Receive $5000 To Help Pay Off Student Loans While Making A Difference
The Federal Teacher Loan Forgiveness Program offers individuals who teach full-time for five consecutive complete academic years, in certain elementary and secondary schools serving low-income families, forgiveness of up to a combined total of $5,000 in principal and interest of their Direct Loan and/or Federal Family Education Loan Programs (FFELP) loans. For more information contact Federal Student Aid Information Center; 800-4-FED-AID; http://www.studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp
$6000 Of Student Loan Forgiveness!!
Teachers for New HampshireSM provides financial assistance in the form of a variable-interest rate, forgivable loan, covering up to 50 percent of the direct costs (tuition and fees) and the cost of books for the program, not to exceed a cumulative maximum of $6,000. Repayment of this loan will be forgiven for individuals who are employed as full-time teachers for three years following completion of their teacher preparation program. Contact New Hampshire Higher Education Loan Corporation, P.O. Box 2111, Concord, NH 03301; 800-330-0787; www.teachersforNH.org
$8,000 Per Year For Fordham University Law School Graduates
The Fordham Loan Repayment Assistance Program (LRAP) is available to JD alumni, who are working full-time in law-related positions in non-profit organizations and have qualifying incomes. Repayment assistance will be up to $8,700 per year for five years. The amount of an individual loan will depend on income and actual annual loan payments. To be eligible must make less than $54,000. Contact: Fordham University School of Law, Office of Financial Aid, 33 West 60th Street, New York, NY 10023-7485; 212-636-6815; http://law.fordham.edu/ihtml/fa-2GradStu_LRA.ihtml?id=502
Student Loan Repayment - Stanford University
Stanford University helps attorneys who are pursuing a public interest career. After they meet the income and employment qualifications for three years, participants become eligible for cancellation of 25 percent of their LRAP loans; after four years, 50 percent; and after five to ten years, 100 percent!! Associate Director of Financial Aid, Stanford Law School, 559 Nathan Abbott Way, Stanford, CA 94305-8610; 650-723-9247; Fax: 650-723-0838; http://www.law.stanford.edu/program/tuition/assistance/
$3,500 Loan Forgiveness - Franklin Pierce Law Center
This program is for eligible law school graduates of the Franklin Pierce Law Center. Applicants are eligible to receive up to an annual maximum of $3,500 for up to five years after graduation if they remain in qualifying public interest employment. Contact The Franklin Pierce Law Center, Two White Street, Concord, NH 03301; 603-228-1541; http://www.piercelaw.edu/finan/Lrap.htm
50% Of Your Loans Paid Off!!!
If you are a female graduate or undergraduate student attending an accredited engineering school and majoring in the metallurgy, minerals, or materials science fields then you may be eligible to receive loan forgiveness of half your student loans through the WAAIME Scholarship Loan Fund Program. Contact WAAIME, 345 East 47th Street, New York, NY 10017; 212-705-7692; www.metsoc.org/Students/\tmscomp.asp#waaime
Work In Alaska And Have Your Loans Forgiven!!!!
The Michael Murphy Loan is available to individuals who wish to study law enforcement, law, probation and parole, penology, or other related fields are eligible to work off one-fifth per year or 100% of their loans. Applicant must work as a State Trooper (or related law enforcement official) in Alaska. Contact Lt. of Recruitment, Alaska State Troopers, 5700 East Tudor Road, Anchorage, AK 99507; 907-269-5511; http://alaskadvantage.state.ak.us/page/255
Agricultural Graduates $10,000 Of Loan Forgiveness Is Waiting For You!!
If you are an agriculture or veterinary medicine graduate who helps operate a family farm or practice veterinary medicine that includes agricultural animals in Pennsylvania, you are eligible for a maximum award of $10,000 in loan forgiveness payments. Contact the Agriculture Education Loan Forgiveness Program, P.O. Box 8114, Harrisburg, PA 17105; 717-720-2800; www.pheaa.org/loanforgiveness/Agriculture_Education_Loan_Forgiveness_Program.shtml
$$$ For Workforce Shortage Jobs In Maryland
Workforce Shortage Student Assistance Grant Program offers scholarships for those studying in the areas of: Child care provider, developmental disabilities, mental health, child welfare, juvenile justice, teacher, nursing, physical and occupational therapists, and more. You can receive up to $4,000 per year. You must work in the field for one year for each year of your scholarship. Contact Maryland Higher Education Commission, 839 Bestgate Rd., Suite 400, Annapolis, MD 21401; 410-260-4500; 800-974-0203; http://www.mhec.state.md.us/financialAid/ProgramDescriptions/prog_WSSAG.asp;
Free $$$$$ To Pay Off Federally Insured Student Loans
The Federal Government has a student loan repayment program which authorizes agencies to repay certain types of federally insured student loans as a recruitment or retention incentive for highly qualified personnel. Lawyers, accountants, criminal investigators, engineers, office workers, and more qualify. You can receive up to $10,000 per year for six years. Contact The Office of Personnel Management, 1900 E Streets NW, Washington, DC 20415-1000; 202-606-1800; www.opm.gov/oca/PAY/StudentLoan/index.asp
Pennsylvania Nurses Receive $12,500 To Pay Off Nursing School Loans!!
To help recruit and retain qualified nurses in Pennsylvania, the "Nursing Loan Forgiveness for Healthier Futures" program helps struggling nurses repay their student loans. By working for a participating Pennsylvania health care organization, you may receive student loan forgiveness for up to 25 percent (a maximum of $12,500) of your eligible debt. Contact the American Education Services, Nursing Loan Forgiveness for Healthier Futures Program, Lender School Team, PO Box 2461, Harrisburg, PA 17105-2461; 800-859-5442; www.pheaa.org/loanforgiveness/healthier_futures.shtml
$20,000 Loan Forgiveness!!!!!
This program is for Health worker participants who will enter into a service contract for two years with the Indian Health Service. All health professions are eligible to apply to the Loan Repayment Program; however, special consideration is given to nurses, nurse practitioners, mental health and physician priority medical specialties. Contact The Indian Health Service Loan Repayment Program, Twin brook Metro Plaza -- Suite 100A, 12300 Twin Brook Parkway, Rockville, MD 20852; 301-443-3396; www.ihs.gov/GeneralWeb/HelpCenter/CustomerServices/loan.asp
Up To $21,250 Medical School Loan Forgiveness
This program offers the University of Arizona Medical Students loan forgiveness of up to $21,250 per year with a maximum of four years. Each participant is required to a two year service commitment at a board approved location. Contact Maggie Gumble, U. of Arizona College of Medicine, Financial Aid Office, PO Box 245026 Tucson, AZ 85724-5026; 520-626-7145; www.medicine.arizona.edu/financial_aid/amslp.html
Health Professionals Receive Up To $70,000 Loan Forgiveness
Colorado health professionals with college debt and employed by a public or private non-profit agency in a HPSA area can qualify for the Colorado Health Professions Loan Repayment Program. Contact UCHSH, Colorado AHEC Program, P.O. Box 6508, Mail Stop F433, Aurora, CO 80045-0508; 303-724-0030, Fax: 303-315-0891; http://www2.uchsc.edu/ahec/lrp/index.asp?cat=healthCareers http://www.uchsc.edu/ahec/lrp/lrp.htm
Up To $20,000/Year For D.D.S
If you are a Dentist and work two years of full-time primary care clinical services in a public or non-profit entity located in a Federally-designated Health Professional Shortage Area (HPSA) in Iowa, you can receive up to $20,000 of loan forgiveness. Contact Bureau of Health Care Access, Attn: Patricia Kehoe, PRIMECARRE Coordinator, 321 E. 12th Street, 5th Floor, Des Moines, IA 50319; 515-281-7689, 800-308-5986; http://www.idph.state.ia.us/hpcdp/primecarre.asp
Up to $30,000 Loan Repayment for Rural Health Care Professionals
The Primary Care Recruitment and Retention Endeavor (PRIMECARRE) supports the Iowa Loan Repayment Program, which offers two-year grants to primary care medical practitioners for use in repayment of educational loans. The program requires a two-year practice commitment in a public or non-profit hospital or clinic located in a health professional shortage area. Up to $30,000 per year is available. Contact PRIMECARRE Coordinator, Bureau of Health Care Access, Iowa Department of Public Health, 321 E. 12th Street, Des Moines, IA 50319; 515-281-5069; 800-308-5986; http://www.idph.state.ia.us/hpcdp/primecarre.asp
Knock $25,000 Off Your School Loans For Healthcare Profession
Fully trained health professionals who commit to work in a community of great need are eligible to compete for repayment of their loans. In addition to loan repayment, these clinicians receive a competitive salary, some tax relief benefits, and a chance to have a significant impact on a community. Professions needed include: primary care physician, nurse practitioner, physician assistant, certified nurse midwife, dentist, dental hygienist, psychiatrists, psychologists, and social workers. Contact NHSC, 5600 Fishers Lane, Park lawn Building, Rockville, MD 20857; 800-221-9393; http://nhsc.bhpr.hrsa.gov/join_us/lrp.asp
Rural Physicians Obtain $17,000 Per Year Of Loan Forgiveness
The Rural Physician Loan Forgiveness Program is offered to primary care medical residents who plan to practice full-time in a designated rural area in Minnesota. During each year that a participant serves as a physician in a designated rural area for a minimum of 30 hours per week for up to four years, the ORHPC will pay directly to the participant an annual lump sum (approximately $17,000). Contact Minnesota Department of Health, Office of Rural Health and Primary Care, Attn: Loan Forgiveness Program Officer, P.O. Box 64975, St. Paul, MN 55164-0975; 651-201-3870; http://www.health.state.mn.us/divs/cfh/orhpc/loan/ruralphys.htm
$60,000 Repayment to Doctors for Education Loans
The Connecticut State Loan Repayment Program (CSLRP) offers repayment of educational loans in exchange for a period of employment as a significant incentive for eligible clinicians to work in Community Health Centers. Contact: Public Health Initiatives Branch, 410 Capitol Ave, MS#11BCH, P.O. Box 340308, Hartford, CT 06134; 860-509-7655; http://www.ct.gov/dph/cwp/view.asp?a=3137&q=388042
$105,000 for Health Professionals to Pay Off School Loans
The Delaware State Loan Repayment Program offers help with student loan repayment to health professionals who sign a contract to practice in an underserved area of the state for a minimum of two years. Contact Loan Repayment Coordinator, Delaware Health Care Commission, Haslet Armory, Suite 202, 122 William Penn Street, Dover, DE 19901; 302-672-5187; http://dhcc.delaware.gov/information/dimer.shtml
Get Your Loans Repaid
Loan repayment and loan forgiveness programs to help ensure a stable and adequate supply of health care professionals to meet the health care needs of Vermonters. The loan repayment program includes support for primary care physicians, primary care non-physician providers such as nurse practitioners and physician assistants and dentists. Contact Denis Barton, Office of Rural Health and Primary Care, Vermont Department of Health, 108 Cherry Street, Burlington, Vermont 05402-0070; 802-951-4006; http://healthvermont.gov/local/rural/rural_health.aspx
85% of Your Nursing Students Loans Gone!
The Nursing Education Loan Repayment Program repays 60% of the qualifying loan balance of registered nurses selected for funding in exchange for two years of service at a critical shortage facility. Contact: Health Resources & Services Administration, 5600 Fishers Lane, Rockville, MD 20857; 877-464-4772; http://bhpr.hrsa.gov/nursing/loanrepay.htm
Career Changing Opportunity
The Transition to Teaching program supports the recruitment and retention of highly qualified mid-career professionals, including qualified paraprofessionals, and recent college graduates who have not majored in education to teach in high-need schools and districts through the development of new or enhanced alternative routes to certification. Transition to Teaching encourages the development and expansion of alternative routes to certification that enable individuals to be eligible for teacher certification within a reduced period of time. To find a program near you contact your Board of Education, State Board of Education (which can be found at www.govengine.com), or U.S. Department of Education, OII, Teacher Quality Programs, 400 Maryland Ave., S.W., Room 4W302, FB-6, Washington, DC 20202-5960; 202-260-0223; http://www.ed.gov/programs/transitionteach/index.html
Need To Teach Now?
The National Center for Alternative Certification is a one-stop comprehensive clearinghouse for information on just this topic! They can tell you where programs are located, what you need to have to qualify, what your state’s requirements are, and more. Contact National Center for Alternative Certification, 1901 Pennsylvania Ave., NW, Suite 201, Washington, DC 20006; 202-822-8280; www.teach-now.org
Do You Want To Teach In DC?
If you have your teaching certificate, they have loan deferments and cancellation benefits, housing assistance for those that want to be homeowners (up to $10,000!), and more. If you don’t have your certificate, you can get it for free at Howard University with a service commitment to teach in DC. If you have your Bachelor’s degree and no teaching certificate, you can get a provisional license or you can join the DC Teaching Fellows program which allows for an alternative certification. Contact District of Columbia Public Schools, 825 North Capitol Street, NE - 6th Floor, OHR, Washington, DC 20002; 202-442-5411 or 202-442-5384; http://www.teachdc.org/
$5,000 Forgivable Loan $$$$$$
This program offers forgivable loans to assist and encourage promising engineering graduate students to pursue careers in teaching at the college level. Upon completion of the doctoral degree, one year’s loan will be forgiven for each year the recipient teaches. Contact SAE Washington Office, 1828 L Street NW, Suite 905, Washington, DC 20036; 202-463-7318; http://students.sae.org/awdscholar/loans/doctoral/
100% Student Loan Forgiveness!!
If you are a teacher and have served full-time in a public or non-profit elementary or secondary school system as a teacher in a school serving students from low-income families; or special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or teacher in the fields of mathematics, science, foreign languages, or bilingual education, or in any other field determined to have a shortage, you may qualify for cancellation of up to 100 percent of a Federal Perkins Loan. Contact The Office of Federal Student Aid, Federal Perkins Loan Teacher Cancellation Program, Union Center Plaza, 8 31st Street, Washington D.C. 20202; 800-433-3243; http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelperk.jsp?tab=repaying
$5,000 Student Loan Forgiveness
Up to $5,000 of your Stafford Loans cancelled if you are teaching in a low-income school and you are a new borrower. You must work as a full-time teacher for five consecutive years in an elementary or secondary school that has been designated as a “low-income” school. Contact The Office of Federal Student Aid Federal Perkins Loan Teacher Cancellation Program, Union Center Plaza, 8 31st Street, Washington D.C. 20202; 800-433-3243; http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp?tab=repaying
$5,000 For Minority Teachers!!!
Receive up to $5,000 annually if you are an African-American, Asian-American, Native American, or Hispanic college junior or senior working toward teacher certification. Participants must teach 3 or 5 years in Arkansas to have the amount received forgiven. For more information, contact the Arkansas Department of Higher Education, 114 East Capitol Ave, Attn: Minority Teachers Scholarship, Little Rock, AR 72201; 501-371-2050, 800-54-STUDY; www.arkansashighered.com/mteachers.html; http://www.arkansashighered.com/pdfs/FAApplications/MTSP%20Application2007.pdf
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