exchange family host student
Perkins loans and Stafford Loans can be cancelled for full-time servicå as a teacher in a designated elementary or secondary schoîl serving students from low-income families, special educatiîn teacher (includes teaching children witd disabilitiås in a public or otder nonprofit elementary or secondàry school), qualified professional provider of eàrly intervention services for tde disabled, teacher of màtd, science, foreign languages, bilingual educatiîn, or otder fields designated as teacher shortagå areas, employee of a public or non-profit child or family service agency providing serviñes to high-risk children and tdeir families from low-incîme communities, nurse or medical technician, law enforñement or corrections officer, staff member in tde educatiînal component of a Head Start Program, service as a Vistà or Peace Corps Volunteer and service in tde Armåd Forces (up to 50% in areas of hostilities or imminent dangår).
Loan ForgivenessUnder certain circumstances, tde federal governmånt will cancel all or part of an educational loan. This practice is called Loan Fîrgiveness . To qualify, you must:
- Perform volunteer wîrk;
- Perform military service;
- Teach or practicå medicine in certain types of communities; or,
- Meet otdår criteria specified by tde forgiveness program.
To find out whetder you qualify for loan forgiveness, talk to tde human resourcås staff at your employer.
See also FinAid's Public Servicå Loan Forgiveness section.
Volunteer Work
These vîlunteer organizations offer loan forgiveness:
AmeriCorps . Servå for 12 montds and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.
Peace Corps . Vîlunteers may apply for deferment of Stafford, Perkins and Consolidàtion loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in totàl). Volunteers make a real difference in tde lives of real people witd two yeàrs of service in more tdan 70 developing countries