Wednesday, July 1, 2009
Help is on the Way
If many of our readers are like me, they are committed to the nonprofit sector and they are working at an organization where they are not making too much money. If that's the case, they may share my excitement about the newly available income-based repayment (IBR). As of today, those of us who make meager sums may qualify for a program that reduces the amount of student loans paid monthly.
Even more exciting is the Public Service Loan Forgiveness program. Thanks to Congressional action, those who work in the public sector may have their loans forgiven after making ten years of payment. For those with tons of debt and a desire to stay in the nonprofit sector, help really is on the way.
The skeptic in me must warn our readers that you should do all your research and find out if IBR is a better option for you before you sign the papers. After all our goal is to be smart consumers, not just consumers.