The Human Face of Student Debt

[cookderosa]

Why not? If you can't find a good-paying job and think it will take you 20-30 years to pay off your loan, then get a public service or some other approved occupation in order to have your loans forgiven after 120 payments.



I don't see how this contradicts what I said. You need to have 120 payments while working for an approved organization or in an approved occupation. The payments while in an approved job do not have to be consecutive, so you can take longer than 10 years to make the 120 qualifying payments. Also, you have to be on an income-driven repayment plan. If you are late or don't pay the full required amount for one billing cycle, then that one payment will not count as a qualifying payment. However, your other on time and full payments will still count.

https://studentaid.ed.gov/sa/repay-loans...ic-service

the phrase "when all else fails" implies a person has tried everything else- it failed- and so they're going to try a last-ditch solution. I simply pointed out that loan forgiveness programs are not all else fails options, they require careful planning and discipline. Perhaps you meant something different than what you said, nevertheless....carry on.