object(WP_Query)#796 (49) { ["query"]=> array(2) { ["cat"]=> int(5) ["posts_per_page"]=> int(4) } ["query_vars"]=> array(65) { ["cat"]=> int(5) ["posts_per_page"]=> int(4) ["error"]=> string(0) "" ["m"]=> string(0) "" ["p"]=> int(0) ["post_parent"]=> string(0) "" ["subpost"]=> string(0) "" ["subpost_id"]=> string(0) "" ["attachment"]=> string(0) "" ["attachment_id"]=> int(0) ["name"]=> string(0) "" ["static"]=> string(0) "" ["pagename"]=> string(0) "" ["page_id"]=> int(0) ["second"]=> string(0) "" ["minute"]=> string(0) "" ["hour"]=> string(0) "" ["day"]=> int(0) ["monthnum"]=> int(0) ["year"]=> int(0) ["w"]=> int(0) ["category_name"]=> string(8) "articles" ["tag"]=> string(0) "" ["tag_id"]=> string(0) "" ["author"]=> string(0) "" ["author_name"]=> string(0) "" ["feed"]=> string(0) "" ["tb"]=> string(0) "" ["paged"]=> int(0) ["meta_key"]=> string(0) "" ["meta_value"]=> string(0) "" ["preview"]=> string(0) "" ["s"]=> string(0) "" ["sentence"]=> string(0) "" ["title"]=> string(0) "" ["fields"]=> string(0) "" ["menu_order"]=> string(0) "" ["embed"]=> string(0) "" ["category__in"]=> array(0) { } ["category__not_in"]=> array(0) { } ["category__and"]=> array(0) { } ["post__in"]=> array(0) { } ["post__not_in"]=> array(0) { } ["post_name__in"]=> array(0) { } ["tag__in"]=> array(0) { } ["tag__not_in"]=> array(0) { } ["tag__and"]=> array(0) { } ["tag_slug__in"]=> array(0) { } ["tag_slug__and"]=> array(0) { } ["post_parent__in"]=> array(0) { } ["post_parent__not_in"]=> array(0) { } ["author__in"]=> array(0) { } ["author__not_in"]=> array(0) { } ["orderby"]=> string(10) "menu_order" ["order"]=> string(3) "ASC" ["ignore_sticky_posts"]=> bool(false) ["suppress_filters"]=> bool(false) ["cache_results"]=> bool(true) ["update_post_term_cache"]=> bool(true) ["lazy_load_term_meta"]=> bool(true) ["update_post_meta_cache"]=> bool(true) ["post_type"]=> string(0) "" ["nopaging"]=> bool(false) ["comments_per_page"]=> string(2) "50" ["no_found_rows"]=> bool(false) } ["tax_query"]=> object(WP_Tax_Query)#801 (6) { ["queries"]=> array(1) { [0]=> array(5) { ["taxonomy"]=> string(8) "category" ["terms"]=> array(1) { [0]=> int(5) } ["field"]=> string(7) "term_id" ["operator"]=> string(2) "IN" ["include_children"]=> bool(true) } } ["relation"]=> string(3) "AND" ["table_aliases":protected]=> array(1) { [0]=> string(32) "wp_91e4ce6975_term_relationships" } ["queried_terms"]=> array(1) { ["category"]=> array(2) { ["terms"]=> array(1) { [0]=> int(5) } ["field"]=> string(7) "term_id" } } ["primary_table"]=> string(19) "wp_91e4ce6975_posts" ["primary_id_column"]=> string(2) "ID" } ["meta_query"]=> object(WP_Meta_Query)#800 (9) { ["queries"]=> array(0) { } ["relation"]=> NULL ["meta_table"]=> NULL ["meta_id_column"]=> NULL ["primary_table"]=> NULL ["primary_id_column"]=> NULL ["table_aliases":protected]=> array(0) { } ["clauses":protected]=> array(0) { } ["has_or_relation":protected]=> bool(false) } ["date_query"]=> bool(false) ["request"]=> string(451) "SELECT SQL_CALC_FOUND_ROWS wp_91e4ce6975_posts.ID FROM wp_91e4ce6975_posts LEFT JOIN wp_91e4ce6975_term_relationships ON (wp_91e4ce6975_posts.ID = wp_91e4ce6975_term_relationships.object_id) WHERE 1=1 AND ( wp_91e4ce6975_term_relationships.term_taxonomy_id IN (5) ) AND wp_91e4ce6975_posts.post_type = 'post' AND (wp_91e4ce6975_posts.post_status = 'publish') GROUP BY wp_91e4ce6975_posts.ID ORDER BY wp_91e4ce6975_posts.menu_order ASC LIMIT 0, 4" ["posts"]=> array(4) { [0]=> object(WP_Post)#787 (24) { ["ID"]=> int(428) ["post_author"]=> string(1) "2" ["post_date"]=> string(19) "2018-02-27 18:53:49" ["post_date_gmt"]=> string(19) "2018-02-27 18:53:49" ["post_content"]=> string(1546) "Have you ever had someone look at you and say, "When I was your age, I put myself through college"? The older generation these days often fails to realize just how different things are between them and the newer generation, the Millennials. Did you know that the average income for a person of the older generation who has no college degree is $49,024? This is only $1,248 less than the average income of a person in the Millennial generation who has a degree and college debt. Plus, the cost of living is much higher than it used to be. Just a couple decades ago, the average price for a gallon of fuel was $1.70. Now, we're lucky to get it for $2.45 a gallon. Also, let's just keep it real. Going to college is far more expensive than it used to be. The older generation enjoyed tuition rates as low as $3,190 a semester. Nowadays, it costs around $7,280 a semester. That's more than double the expense of it what used to cost. And then there's the ever-looming healthcare problem. Per-capita spending on prescription drugs by the older generation used to be a steady $272. Now, however, the per-capita spending is a whopping $1,109. If you have health issues and you're trying to go to school and juggle the cost of paying for medications, it may be financially impossible to finish your studies. cost of college now and then" ["post_title"]=> string(51) "College Affordability: Baby Boomers Vs. Millennials" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(4) "open" ["ping_status"]=> string(4) "open" ["post_password"]=> string(0) "" ["post_name"]=> string(28) "cost-of-college-now-and-then" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2018-02-27 18:53:49" ["post_modified_gmt"]=> string(19) "2018-02-27 18:53:49" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(39) "http://www.studentloanreview.com/?p=428" ["menu_order"]=> int(1) ["post_type"]=> string(4) "post" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [1]=> object(WP_Post)#802 (24) { ["ID"]=> int(420) ["post_author"]=> string(1) "2" ["post_date"]=> string(19) "2018-01-16 03:01:17" ["post_date_gmt"]=> string(19) "2018-01-16 03:01:17" ["post_content"]=> string(13180) "If you are like one of the millions of people who have student loan debt, there are a variety of student loan forgiveness programs you need to be aware of. One such program is the total and permanent disability discharge program. Under this program, the following types of loans can be discharged: Additionally, if you have entered into a Teacher Education Assistance for College and Higher Education Grant program, your obligation to this program may be canceled under the student loan forgiveness for the disabled program. For now, let's take a look at several questions you likely have about the student loan disability discharge program. 

What does it mean to have my student loans discharged?

When you qualify for your loans to be discharged under the total and permanent disability discharge program, this means that you will no longer be responsible for paying back the debt. However, because it can take quite some time for the discharge process to be completed, you may be responsible for making monthly payments until you have been approved for loan discharge. It is during this period of time, though, that you may qualify for loan deferment or forbearance. You will want to speak with a loan specialist from the U.S. Department of Education to determine whether or not you need to make payments while going through the loan disability discharge process. Most of the time, once you contact the Department of Education and request an application for disability loan discharge, they will verify that your loans are eligible and they will suspend payment requirements for a period of 120 days.

How can I go about proving to the Department of Education that I am permanently disabled?

There are basically four ways you can prove that you are permanently disabled. It is imperative to understand that proving you are disabled is a requirement for being able to have your loans discharged. If you can't prove you are disabled, you won't qualify for the discharge program.

How does the disability discharge process work?

As stated before, when you first start the process of filing for loan forgiveness under the disability discharge program, you may be required to make monthly payments. However, once you apply for the discharge program, the Department of Education will contact your loan servicers and any collection activity will be stopped; this means you won't be responsible for making any payments while the application is being reviewed. Generally, this process takes about three to five months.

Two Important Things to Understand about Disability Loan Discharge

There are two very important aspects of disability loan discharge that you need to be aware of. For starters, if you are wanting to continue your education, it is suggested that you do not apply for disability loan discharge because you will not be allowed to apply for federal student loans. The only way you will be able to apply for them is if you receive a letter from your physician stating you have recovered from your disability and that you are now able to engage in gainful activity. Furthermore, you will not be able to apply for disability loan discharge again under the same disability. If you were to become disabled due to a new disability, you will be able to have your new loans discharged because of it, but not because of your old disability. Also important to understand is that you will have to pay taxes on the amount of funds that are discharged. For example, if you have $38,000 discharged under the disability loan discharge program, then the Department of Education will report this to the IRS and you will have to include it as taxable income on your tax return.

Can a representative apply for disability loan discharge for me?

Yes, if you have a representative, guardian or caretaker, this person can apply for total and permanent disability discharge for you. This is very beneficial because it allows you to have someone walk through the process with you. In order to take this route, your representative will need to submit the Applicant Representative Designation form. Please keep in mind that even if you have given someone power of attorney over you, you will still need to have them complete and submit the aforementioned form.

Are there any downsides to disability loan discharge?

We already talked about the downside of having to include the amount of funds discharged as taxable income on your tax return. For some people, the tax bill that you receive as a result can be incredibly enormous. In fact, it may not be feasible for some people who are disabled and have little to no income. There is a solution to this problem, though, and it comes in one of two forms. First, you can see if you qualify for one of the exclusions set by the IRS, such as: Secondly, you can avoid the disability student loan forgiveness program altogether and instead take another route of having your loans forgiven. Take for example that you take advantage of the Income Based Repayment plan, which bases your monthly loan payment on the amount of money you make. Depending on your income, you may qualify for payments as low as $0 a month. After making 25 years worth of payments on this plan, the rest of your loan debt is forgiven. Best of all, the amount forgiven is not considered taxable income.

I'm ready to move forward with the total permanent disability discharge program, so how do I get started?

Once you have decided that you would like to apply for student loan forgiveness for the disabled program, you have three ways to get started. First, you can go online and complete the application. You will be asked an assortment of questions detailing your disability and you will also be asked to submit verification of your disability. Please keep in mind that the entire application process cannot be completed online. Instead, the answers you provide will be used to fill in a portion of the application that you can then print out, have a physician sign and return by mail to the Department of Education. The next way to start the process is by printing out the application and filling all of it out by hand. With this type of application, you will also need to have it signed by a physician and mail it back in with supporting documentation of your disability. The third way to get started is by calling or emailing the Department of Education and having them mail or email you a copy of the application. Once again, you will need to answer all questions, have a doctor sign it and return by mail with any supporting documentation.

Where do I mail in the disability loan discharge application?

You actually have four different ways to mail in your application: by postal mail, email, fax or upload it to the Disability Discharge website.

1) Postal Mail address:

U.S. Department of Education P.O. Box 87130 Lincoln, NE 68501-7130

2) Fax number:

303-696-5250

3) Email address:

[email protected]

4) Website address:

https://secure.disabilitydischarge.com

What if I have multiple loans from different federal lenders?

One of the biggest concerns that student loan borrowers have is that if they have multiple loans through different lenders, they think they need to apply for disability discharge for each loan. This simply isn't the case, though. You only have to submit one application for all of your federal loans. All qualifying loans will automatically be included under your discharge if you are approved.

If I am already receiving Social Security Disability benefits, does this mean I qualify for disability loan discharge?

Many people are mistaken and believe that if they receive Social Security Disability benefits, that this automatically qualifies them for disability loan discharge. Unfortunately, though, this is not always the case. Each case is reviewed on an individual basis.

Can only certain types of doctors certify my disability?

Yes, there are only certain types of doctors that can certify your disability and deem you as eligible for consideration for disability loan discharge. These doctors must have licensure as: Also, these doctors must be licensed to practice in any of the following locations:

My disability loan discharge application was denied. Is there anything I can do?

Yes, if your application was denied, you can always appeal the determination. To do this, you will need to provide any additional information that you believe will affect the determination of your application. This information must be submitted within a year of the date that you were denied; this way you don't have to fill out another total and permanent disability discharge application. If you wait longer than a year, you will have to fill out another application and submit it along with your additional supporting information.

Am I allowed to work at all if I receive loan discharge under the disability loan discharge program?

Yes, you are allowed to work, but your total and permanent disability status will need to remain the same. Your case will be reviewed three years after you are approved for loan discharge (unless you received approval by submitting disability verification from the VA). During this three year period of time, you are limited in regards to how much money you can earn. For example, your "annual earnings cannot exceed the Poverty Guidelines amount for a family of two in your state."

The Takeaway

There are many factors that will impact whether or not you qualify for loan discharge under the total and permanent disability discharge program. It is highly recommended that you contact the Department of Education and speak with a loan discharge specialist who can walk you through the entire process." ["post_title"]=> string(58) "A Detailed Overview of Disability Student Loan Forgiveness" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(4) "open" ["ping_status"]=> string(4) "open" ["post_password"]=> string(0) "" ["post_name"]=> string(33) "student-loan-forgiveness-disabled" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2018-01-16 03:01:17" ["post_modified_gmt"]=> string(19) "2018-01-16 03:01:17" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(35) "http://studentloanreport.org/?p=420" ["menu_order"]=> int(2) ["post_type"]=> string(4) "post" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [2]=> object(WP_Post)#786 (24) { ["ID"]=> int(415) ["post_author"]=> string(1) "2" ["post_date"]=> string(19) "2018-01-10 18:55:43" ["post_date_gmt"]=> string(19) "2018-01-10 18:55:43" ["post_content"]=> string(6700) "Being a teacher comes with an array of benefits. From having the summers off to taking advantage of incredible health benefits, teaching definitely has its perks. Along with the perks, though, come a few cons, with one of the most burdening being a hefty amount of student loan debt to pay off. Unless you go to college with cash in hand to pay for your courses or on some type of full scholarship or grant, you are likely going to graduate with upward of $30,000 in loan debt. On a positive note, however, is the fact that there are a variety of programs that provide student loan forgiveness for teachers. Let's take a close look at each of these programs and how they can benefit you.

Teacher Loan Forgiveness

To qualify for this forgiveness program, you will have to teach for five consecutive years at a school that serves low-income families. Also, the only loans that qualify for this program are federal Stafford and Direct loans. It is also important to note that only up to $17,500 may be forgiven under this program. The Teacher Loan Forgiveness program is especially ideal for teachers who graduate college with a minimal amount of debt. And while the debt that can be forgiven is minimal when compared to the amount that can be forgiven through the Public Service Loan Forgiveness program, the Teacher Loan Forgiveness program does offer a forgiveness on a quicker basis. If you want to pursue forgiveness through this program, it is advised that you first check to see if the school you want to gain employment through qualifies. You can do this by checking the Teacher Cancellation Low Income Directory. As stated before, the maximum amount to be forgiven under this program is $17,500; however, the amount that you will qualify for will depend on the subjects that you teach as well as the grade level you are teaching.

Public Service Loan Forgiveness for Teachers

One of the best programs to take advantage of is the Public Service Loan Forgiveness. Under this program, you will be required to gain employment for at least 10 years at an eligible government or non-profit school. Please keep in mind that only federal Direct loans qualify for this forgiveness program; however, if you have other federal student loans, you can consolidate them under a Federal Consolidation Loan and they will then qualify for Public Service Loan Forgiveness. Another piece of criteria that must be met when qualifying for this program is that you have made 120 on-time payments for your loans; but, these loans don't have to be consecutive. Also, it does not matter what your loan repayment amounts are in the amount of time it takes you to make 120 on-time payments. This means if there is a period of time that your payments are $0, these payments will still qualify. It is imperative for you to understand that employment at any of the following will not qualify you for forgiveness under the Public Service Loan Forgiveness program: Also, as stated before, if you paid for your schooling using Federal Family Education Loans or a Perkins Loan, you can still qualify for forgiveness under this program, but you will first need to consolidate them with a Federal Consolidation Loan. Furthermore, this program is beneficial because there is no limit to how much of your debt can be forgiven; this makes this program especially ideal for teachers who have a large amount of student loan debt. Even better is that the amount forgiven will not be taxed by the IRS.

Perkins Loan Cancellation for Teachers

Under this forgiveness program, there is only one type of loan that qualifies -- Federal Perkins Loan. You must work on a full-time basis at a qualifying school, which can be found in the Teacher Cancellation Low Income Directory. You can also qualify for this program if you teach any of the following subjects: One of the neatest things about the Perkins Loan Cancellation program is that it takes place over a period of five years. During your first and second years of employment, 15 percent of your loan debt will be forgiven. During your third and fourth years, 20 percent of your debt is forgiven, and the remaining 30 percent is forgiven once you have completed your fifth year of teaching.

Is It Possible to Combine Forgiveness Programs?

Yes, it is possible to combine forgiveness programs, but you can't combine them at the same time. Take for example you want to take advantage of Public Service Loan Forgiveness and Teacher Loan Forgiveness. To use both of these programs, you will need to work a total of 15 years at a qualifying school. There are three main pieces of criteria that will help you choose which forgiveness programs are best for you:

State-Specific Forgiveness Options

It is highly encouraged that you check into state-specific forgiveness programs. Take for example if you work in Maine as a teacher. You can have a year's worth of payments forgiven for each year you work. In New York, teachers can have $3,400 a year forgiven for up to four years under the Teachers of Tomorrow Program.

The Takeaway

Teaching is a career that has a major impact on society. Studies show that on average, a teacher will impact more than 3,000 students during their career. 98 percent of people believe teachers majorly influence the course of their students' lives. If this is a career you are interested in pursuing, make sure you are aware of the forgiveness programs mentioned above." ["post_title"]=> string(60) "Student Loan Forgiveness For Teachers: What You Need To Know" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(4) "open" ["ping_status"]=> string(4) "open" ["post_password"]=> string(0) "" ["post_name"]=> string(33) "student-loan-forgiveness-teachers" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2018-01-10 18:55:43" ["post_modified_gmt"]=> string(19) "2018-01-10 18:55:43" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(35) "http://studentloanreport.org/?p=415" ["menu_order"]=> int(3) ["post_type"]=> string(4) "post" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [3]=> object(WP_Post)#849 (24) { ["ID"]=> int(411) ["post_author"]=> string(1) "2" ["post_date"]=> string(19) "2018-01-10 18:39:32" ["post_date_gmt"]=> string(19) "2018-01-10 18:39:32" ["post_content"]=> string(12901) "In 2014, a study showed that there were nearly three million nurses in the United States. The medical field is one that is continually growing and evolving, and there will always be a great demand for those in the nursing field. And while going to school to become a nurse can be accomplished in as little as two to four years, there is still a lot of student loan debt following those around who graduate with a nursing degree. Fortunately, though, student loan forgiveness programs do exist that can be of immense help to those who graduate nursing school with loan debt. Let's take a look at the various forgiveness options and the benefits they can bring to you.

Student Loan Forgiveness for Nurses

Hospital Tuition Reimbursement

First and foremost, the number one tip to follow when seeking student loan forgiveness for nurses is to know where to look for relief. Many people who graduate with a nursing degree and find employment fail to ask their employer about financial debt assistance. With this in mind, you should start your job search by first seeking employment through a hospital or medical facility that offers some type of tuition reimbursement program. You may be able to have the entirety of your student debt paid for by an employer. This, many times, in itself is worth taking a lower-paying position. The only drawback to this type of loan forgiveness program is that you will likely have to sign a contract stating you will stay employed through that specific employer for a period of two to five years. Still yet, the loan forgiveness benefit is still worth signing the contract because, on average, nursing graduates graduate with loan debt totaling $30,000.

Military Debt Forgiveness Programs

Another place to look when seeking loan forgiveness for nurses is the military. There are several branches that offer nursing school tuition debt assistance as long as you will agree to serve a certain number of years in the military. If you have a passion for serving your country, becoming a nurse and entering a branch of service very well could provide you with a two-fold benefit.

Nurse Corps Loan Forgiveness Program

The Nurse Corps Loan Forgiveness Program won't pay off all of your student loan debt, but it does provide the possibility of paying off 85 percent of the debt. This program recruits those who have gone through the necessary training to become a registered nurse as well as those who are already employed as a nurse. The recruitment process strives to find nurses who are willing to work in health care facilities that are undergoing a shortage of nurses. If you agree to work in one of these facilities for a period of two years, 60 percent of student loan debt will be paid for. If you put in another year of employment through one of the facilities, an additional 25 percent of your debt will be covered. This means if you graduate with $30,000 in student loan debt, you could have as much as $25,500 of the debt paid for you through the Nurse Corps Loan Forgiveness Program.

Public Service Loan Forgiveness

If you find employment as a nurse in a public sector job, a portion of your loans may qualify for forgiveness. You will, however, have to make at least 10 years worth of consecutive payments first. You will also have to be employed on a basis in which you work at least 30 hours a week. It is important to keep in mind that the lower-paying you job you have as a nurse, the lower your monthly qualifying payments will be. The higher-paying job you have, the higher your monthly payments will be, meaning you very well may pay off all of your student loan debt during the 10 years in which you have to make payments. Still yet, this will be based on the total overall amount of student loan debt you have. One of the top benefits to having your debt forgiven through the Public Service Loan Forgiveness program is that the forgiven debt is not considered taxable income like it is with the forgiveness that takes place through the income-driven plan.

Federal Perkins Loan Cancellation and Discharge

This program applies only to those nurses who paid for their schooling with a Federal Perkins Loan. If other loans were used to pay for the schooling, the Federal Perkins Loan will still qualify for forgiveness, but the other loans will not. The top benefit to this forgiveness program is that 100 percent of the loan debt accrued under the Federal Perkins Loan will qualify for forgiveness. To meet the criteria for forgiveness, you will need to work as a registered nurse on a full-time basis, and your debt will be forgiven over a period of five years. If you are just now going to school to earn a degree in nursing, you won't be able to pay for your schooling with a Federal Perkins Loan because the program expired on September 30, 2017; however, for any funds that were acquired through this program before this date, forgiveness is still available through the Federal Perkins Loan Cancellation and Discharge program.

State Forgiveness Program Options

Depending on where you live and find employment as a nurse, there may be state-specific programs in place to help you with your student loan debt. Take Arizona for example. If you work in this state as a nurse, you can take advantage of the Arizona Loan Repayment Program, which provides tuition reimbursement assistance to those who work either on a full- or part-time basis for at least two years. The program is incredibly generous, providing up to $50,000 in reimbursement for each year you are employed. Kentucky is another state that generously helps out nursing graduates. Nurse practitioners working in the state who agree to work for at least two years in a Health Professional Shortage Area can receive anywhere from $20,000 to $40,000 in student loan debt assistance.

Three Must-know Tips for Qualifying for Student Loan Forgiveness for Nurses

1) You have to have the right type of loan(s)

If you go to college and have your schooling paid for through private student loans, you are not going to qualify for any type of forgiveness programs. Under the Public Service Loan Forgiveness program, your loans must have been acquired through the Federal Direct program or the FFEL loan program. There is a good chance, however, that your loans came through the Stafford program or as a Perkins loan. If so, there is good news, You can consolidate these loans using the Federal Direct Consolidation Loan program, and they will then qualify for the Public Service Loan Forgiveness program.

2) You have to have the right type of employment

Depending on the exact forgiveness program you are seeking loan relief through, you will have to meet certain criteria, with most programs mandating that you acquire employment in a public sector job that serves areas that are underserved. Because of this, it is crucial that you make sure your job meets the criteria for obtaining forgiveness.

3) You may have to pay back part of your student loan debt

Lastly, many forgiveness programs for nurses will still require you to pay back a portion of your debt. Take for example if you are on the income-driven repayment plan. You will still have to make at least 25 years worth of payments before the remaining debt is forgiven. So, even if your monthly payment is only $100, after 25 years of making this consecutive payment, you will have paid off $30,000 of your loan. If your debt is larger than this amount, then the remaining will be forgiven. The point is, though, that most forgiveness programs will require you to make anywhere from 10 to 25 years worth of payments before forgiveness kicks in.

The Takeaway

There are a variety of programs to take advantage of when it comes to having your student loan debt for nursing forgiven. To help make sure you take advantage of the best one for you, it is advised that you research each program. Here is a list of the best forgiveness programs for 2018-2019. " ["post_title"]=> string(58) "Student Loan Forgiveness For Nurses: What You Need To Know" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(4) "open" ["ping_status"]=> string(4) "open" ["post_password"]=> string(0) "" ["post_name"]=> string(31) "student-loan-forgiveness-nurses" ["to_ping"]=> string(0) "" ["pinged"]=> string(179) " https://www.forgetstudentloandebt.com/student-loan-relief-programs/nursing-student-loan-forgiveness-programs/perkins-loan-forgiveness-for-nurses-and-licensed-medical-technicians/" ["post_modified"]=> string(19) "2018-01-10 18:39:32" ["post_modified_gmt"]=> string(19) "2018-01-10 18:39:32" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(35) "http://studentloanreport.org/?p=411" ["menu_order"]=> int(4) ["post_type"]=> string(4) "post" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } } ["post_count"]=> int(4) ["current_post"]=> int(-1) ["in_the_loop"]=> bool(false) ["post"]=> object(WP_Post)#787 (24) { ["ID"]=> int(428) ["post_author"]=> string(1) "2" ["post_date"]=> string(19) "2018-02-27 18:53:49" ["post_date_gmt"]=> string(19) "2018-02-27 18:53:49" ["post_content"]=> string(1546) "Have you ever had someone look at you and say, "When I was your age, I put myself through college"? The older generation these days often fails to realize just how different things are between them and the newer generation, the Millennials. Did you know that the average income for a person of the older generation who has no college degree is $49,024? This is only $1,248 less than the average income of a person in the Millennial generation who has a degree and college debt. Plus, the cost of living is much higher than it used to be. Just a couple decades ago, the average price for a gallon of fuel was $1.70. Now, we're lucky to get it for $2.45 a gallon. Also, let's just keep it real. Going to college is far more expensive than it used to be. The older generation enjoyed tuition rates as low as $3,190 a semester. Nowadays, it costs around $7,280 a semester. That's more than double the expense of it what used to cost. And then there's the ever-looming healthcare problem. Per-capita spending on prescription drugs by the older generation used to be a steady $272. 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Student Loan Consolidation: Does it Hurt or Help Your Credit?

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Student loan debt can be incredibly burdensome. From losing sleep at night to increased anxiety, studies are showing that this form of debt can be detrimental to a borrower’s mental health. 

Are you one of these people? Are you looking for a way to reduce your student loan repayments? If so, you should consider student loan consolidation. This form of refinancing can lead to an array of benefits, including reduced payments, and possibly, a decrease in your overall repayment term. What you need to consider, though, is whether or not consolidating your loans will hurt or help your credit. For some of you, the health of your credit may not even be a factor in helping you choose whether or not to consolidate. Sometimes, consolidating is the only option that will provide some type of debt relief and it’s worth hurting your credit. Still, for those who are wondering if consolidating is the best choice, here’s a quick look at a few student loan statistics, an inside glimpse at how consolidating affects your credit, as well as a how-to guide for refinancing them.

Student Loan Debt Statistics

As of the third quarter in 2017, there were 6.5 million student loan borrowers who were still in school; their debt totaled $120.9 billion. 1.7 million borrowers had loans in a grace period, with their debt totaling nearly $42 billion. 18.3 million borrowers were in the repayment phase of their loans and 3.5 million had a deferment on their loans. 2.7 million had one or more loan forbearances and an astonishing 6.5 million were in default on their student loans. If you are having trouble repaying your student loans, these statistics go to show that you aren’t alone.

Here’s a look at statistics for borrowers and their repayment plans:

  • 12.34 million borrowers are on the standard 10-year plan
  • 1.76 million borrowers are on a standard over 10 years plan
  • 3.18 million borrowers are on a graduated under 10 years plan
  • 300 thousand borrowers are on the graduated over 10 years plan
  • 620 thousand borrowers are on the income-contingent plan
  • 3.6 million borrowers are on the income-based plan
  • 1.11 million borrowers are on the pay-as-you-earn plan
  • 1.59 million borrowers are on the revised PAYE plan
  • 500 thousand borrowers are on the alternative plan

When Student Loan Consolidation Makes Sense (and when it doesn’t)

It is very important for you to understand that student loan consolidation is not a one-size-fits-all solution for all borrowers. The type of loans you have and their interest rates will play a large role in whether or not it is financially wise to consolidate them. And for many borrowers, consolidation simply isn’t the best choice. Fortunately, we’ve broken down three scenarios in which consolidation does make sense and two scenarios when it doesn’t. Continue reading to see which scenario applies to you.

Scenario 1: You got your loans with a cosigner

When a friend or loved one cosigned for your student loans, the reality is that they took on the responsibility of repaying the loans in the event that you can’t. In fact, if you miss only a single payment, this can negatively affect the cosigner’s credit. If you feel at any time that you are going to have difficulty repaying your loans, you should speak with your cosigner about having the loans consolidated. He or she will probably be more than happy to be released from their responsibility to keep the payments up to date.

Scenario 2: You borrowed money through private loans

When compared to federal student loans, private loans tend to have much higher interest rates. These loans also come with less-forgiving repayment terms. And for those who opted for a private student loan with a variable interest rate, it’s not uncommon to see it jump as high as nine percent. Because of this, most people with private student loans will benefit from consolidating them. Not only can consolidating them reduce the monthly repayment amounts, but also the length of time you are in repayment.

Scenario 3: Your loans have a high-interest rate

Regardless of the type of loans you took out to pay for your schooling, if they have a high-interest rate, it will be in your favor to consolidate them. Some refinancing lenders can hook you up with a consolidation loan that comes with an interest rate as low as 3.25 percent. Over the time period of repaying your loan, a lower interest rate can save you several thousand dollars.

Scenario 4: You are seeking repayment amounts based on your income

If you took out federal student loans to pay for your schooling, you can apply for an income-based repayment plan. In doing this, your repayment term is normally more than 10 years, however, this decreases your monthly payment amount. Unfortunately, if you are in need of this type of repayment — one that scales according to your income — then consolidating your loans will likely not be a wise choice.

Scenario 5: You are seeking student loan forgiveness

Federal student loans often qualify for loan forgiveness if you work for a non-profit or governmental agency. To qualify for loan forgiveness, you will need to make 120 months of qualifying payments; that’s 10 years of payments. If you consolidate your loans, though, you will no longer be eligible for student loan forgiveness.

How-to-Guide for Student Loan Consolidation

There are two primary types of student loan consolidation. It is important to understand how these two options work.

If you have federal student loans, you may qualify for a federal student loan consolidation; however, this type of consolidation does not lower your interest rate or help you save money in any way. Instead, it is sometimes needed to help you qualify for certain federal repayment programs. Federal student loan consolidation can generally be completed in less than 30 minutes. You can start and complete the process entirely online on the Federal Student Aid website.

The other type of consolidation is private consolidation, which requires you to go through a private lender. You will need a good credit score to qualify for a private lender loan consolidation and because you may be able to lower your interest rate, this will help you save money. To consolidate student loans through a private lender, you will first want to compare various lender rates and choose the lender that best meets your needs.

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