Quote:
Originally Posted by oncegreek
P.S- This is for all undergrads (or grad students)- there are programs out there that will forgive some, or all of your loans, if you are in certain fields. (my loans were forgiven because I taught in a Title 1 school)
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People seriously overestimate what loan forgiveness can do for them. Some of the idiots I went to grad school with INSIST that if you get a job with the federal government, that they will "forgive all your loans." That's not exactly true. After a certain amount of time, an agency, IF THEY HAVE THE FUNDING, can choose to forgive your
federal loans, but not your private loans. The only 2 federal agencies that tend to forgive total loan debt are State and Justice, because they have it like that. Most of my classmates want to work for the Parks Service, which doesn't have that kind of money. They will be sadly mistaken.
It seems that there are only a few ways to get your debt forgiven--work at a high risk school, join the Peace Corps, etc. But this isn't true for the vast majority of people.
A lot of the top law schools can forgive your debt if you go into non-profits, but you shouldn't take out loans with the belief that they'll be forgiven.
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