Re: Teacher Loan Forgivenes
12-29-2012 07:16 PM
Different situation....but some similarities...
I qualified for student loan repayment by the federal government for being a nurse practitioner and working in an underserved area. We have to give a 2-yr commitment for $60k in loan payment. I'm from a rural midwestern state, so I had no problem finding employment at one of the qualified facilities. Didn't have to move. In fact, I see the majority of my patients through telehealth from my own home.
I graduated in May 2010, and...hard as it was...I made only the minimum payments on my loans, even though I could easily have paid ahead. It bothers me to carry debt. The day before Christmas the feds deposited $60,000 into my checking account (paid off all my remaining balances). I was SO very glad at that point that I hadn't gotten all gung ho and paid those loans off faster.
I would seriously think about paying the very minimum that you have to until that loan forgiveness comes through. I was glad I had the patience to do so.