Can my student loan be forgiven if I am a teacher teaching at low economic school?

Answer 1

One way is to work in the Peace Corps (2 year volunteer). They reportedly see to it that 70% of your student loan is forgiven (AND they pay you an exit bonus to help you re-enter society when your term is completed). The Peace Corps also enlists, in fact often prefers older volunteers (age 55+) because of their life-experiences. That can be a big help to pre-seniors and seniors who still have some student loans hanging over their heads from years gone-by. Another way is if you have serious or recurring financial hardship, you can request a "Financial Disclosure Statement", once a year, and that will ---I believe---stop the loan from having to be paid. But you must do this once a year. If you cannot pay because of hardship however, the loan institution will be watching to see if you come into a good job or some inheritance or other forms of money / income. Call them. Talk to them directly. Get specific. From my own experience, remember: If you do not ask the right or focused question, you will not get the right or focused answer. One more way a loan can be forgiven is if you become disabled, and I don't think it has to be quite "100%", but a loan will be discharged if you are never able again to earn a living. So if you're on social security, or a VA disability pension, or some other pension given to you because you are disabled, or have psychological disabilities --that counts too. They will ask for a doctor's signature. Keep all your paperwork and examination history (it can be extremely useful).