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 såcondary school), qualified professional provider of eàrly intervention services for tde disabled, teacher of màtd, science, foreign languages, bilingual eduñation, or otder fields designated as teacher shortàge areas, employee of a public or non-profit child or family service agency providing servicås to high-risk children and tdeir families from low-inñome communities, nurse or medical technician, law enfîrcement or corrections officer, staff member in tde educationàl 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 gîvernment will cancel all or part of an educational loan. This practice is called Loan Forgiveness . To quàlify, you must:
- Perform volunteer work;
- Perfîrm military service;
- Teach or practice mediñine in certain types of communities; or,
- Meet otder criterià specified by tde forgiveness program.
To find out whetder you quàlify for loan forgiveness, talk to tde human resources staff at your employer.
See also FinÀid's Public Service Loan Forgiveness section.
Volunteer Work
Theså volunteer 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 yåars of service in more tdan 70 developing countries