Diary of a Confused Black Woman

The Federal Government vs. My Student Loans

Today...I learned the hard way about loans and loan forgiveness programs...basically this is how it goes...they (side bar - who are they? the loan providers) want you to have loan forgiveness but at the same time they don't want to give it to you. So this is what happened! I basically learned that I could have loan forgiveness since I work for a state agency as a Social Worker so I went about it to find out about the New Jersey Social Services Loan Forgiveness Program. I found out some interesting facts: 1. If you work for or as a child care provider there is a Federal Program that will forgive your student loans for your most recent degree up to $20k per loan (side bar - that program was ended about 2 years ago and the administration made sure you knew nothing about it!), 2. If you are a teacher this program will work for you too! (side bar - you have to work in an underprivileged area), 3. You have to have been hired on or after July 14, 2005 (side bar - all of those hired before you're SOL!), 4. You must have earned your degree at least one year before your hire date, no more than that (side bar - if it is now 2006 and you earned your degree in 2004 .... well ... you're SOL TOO!) So how does this really help anyone who is really in their field? Well I don't know but all of those getting ready to graduate and have student loans and work in the social services field or as a teacher in New Jersey ... you better hop on this program now before they discontinue it like the Federal Program was silenced in 2004! PS. Did I say that I hate being in $65k worth of debt? I hate student loans!

posted by cherry's kid @ 12:42 PM