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June 20, 2011

Parents Beware of PLUS Sized Student Loans

Parents can borrow Parent PLUS loans to pay for the education of their dependent children.  My husband and I will borrow Parent PLUS loans next year for our daughter's college (unless she runs off to Uruguay, which is distinctly possible).  Direct Parent PLUS loans are technically eligible for Public Service Loan Forgiveness, but not really.  Because Parent PLUS loans cannot be repaid under either Income-Based Repayment or Income-Contingent Repayment, you can’t actually make payments on a Parent PLUS loan that count towards…

May 11, 2011

Loan forgiveness action plan all borrowers crave

You know you want it.  But how to get started on the right track toward Public Service Loan Forgiveness? Inventory your federal loans Start by looking up your federal student loans on the National Student Loan Data System using your Personal Identification Number. Round up those pesky private student loans You'll find those by pulling your credit report which you should check out about once a year anyway. Check that you qualify to choose Income-Based Repayment Income-based repayment rocks.  People working towards Public Service…

By Heather  |  Category:  Public Service Loan Forgiveness  

April 15, 2011

Department of Education Prepares to Verify Qualifying Public Service Employment!

Happy Day!  The Department of Education today published in the Federal Register an Employment Certification for Public Service Loan Forgiveness form. And the Department of Education will verify that employers qualify as public service organizations!  Fantastic!  We’ve been trying to get his to happen since the day the College Cost Reduction and Access Act passed, more than 4 years ago. There’s more!  The Department of Education will review the forms that are submitted, will verify qualifying employment AND…

By Heather  |  Category:  Public Service Loan Forgiveness  
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