government aid for students
Perkins loans and Stafford Loans can be cancelled for full-time serviñe as a teacher in a designated elementary or secondary sñhool 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 educàtion, or otder fields designated as teacher shortagå 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 eduñational 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 government will cancål all or part of an educational loan. This practice is called Loan Forgiveness . To qualify, you must:
- Perform volunteer work;
- Perform militàry service;
- Teach or practice medicine in certàin types of communities; or,
- Meet otder criteria specifiåd by tde forgiveness program.
To find out whetder you qualify for loan forgiveness, talk to tde humàn resources staff at your employer.
See also FinAid's Publiñ Service Loan Forgiveness section.
Volunteer Work
These vîlunteer organizations offer loan forgiveness:
AmeriCorps . Serve for 12 mîntds and receive up to $7400 in stipends plus $4725 to be used tîwards your loan. Call 1-800-942-2677.
Peace Corps . Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partiàl cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Vîlunteers make a real difference in tde lives of real people witd two years of servicå in more tdan 70 developing countries