Private and federal student loan debt currently stands at $1.6 trillion. Many borrowers struggle to make payments, and some studies suggest the default rate on federal loans could hit 40 percent by 2023. However, there are many payment options that can help federal student loan borrowers avoid default. There are also programs in place that can help federal borrowers receive loan forgiveness for working in certain types of jobs. Below, we have included more information about the types of jobs that qualify for forgiveness under certain programs. Federal, State and Local Jobs If you work for a federal, state or local entity, then you may qualify for the Department of Education’s Public Service Loan Forgiveness (PSLF) Program. Examples of qualifying jobs could include working for the FBI, CIA, state legislature or as a police officer for a municipality. However, there are additional requirements that are notorious for creating confusion. For…
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