7 ways to help clients tackle student loans
Forgive and forget?
Graduates who work as teachers in low-income schools for five years can have up to $17,500 in certain federal loans discharged. A portion of Perkins Loans (federal loans that are administered by schools themselves) can be forgiven for each year served as a teacher, Peace Corps volunteer, police officer and in other situations. Graduates who work in fulltime jobs for non-profits and made 10-years of timely loan payments based on income, can have their debt balance forgiven.