South Carolina student loan forgiveness is on every college student’s mind. While this is a spectacular program for helping college graduates relieve themselves of student loan debt, it has stringent qualifications. But if you are one of the many graduates who are eligible, you should find out before another set of student loan payments require a large chunk of your monthly budget to pay.
About South Carolina Student Loan Forgiveness
In October of 2007, the student loan forgiveness program went into effect as a part of the College Cost Reduction and Access Act. This program is designed to forgive remaining balances due for student loans if the eligibility requirements are met.
South Carolina Student Forgiveness Loan Requirements
Student loans that fall under the direct loan program may qualify for loan forgiveness. If your student loans don’t fall under this program, you may still be eligible for debt consolidation. A student loan professional would be able to help you learn more about that program. You also need to have met 120 on time payments after the College Cost Reduction and Access Act passed. Your student loans cannot be in default at the time you apply for loan forgiveness and must be in good standing.
Fields that Qualify for South Carolina Student Loan Forgiveness
Most public service professionals can qualify for South Carolina student loan forgiveness. If your career is working as a fireman, policemen, government, military service person, public health worker, public education provider, public librarian, public child care worker, public law worker in emergency management or another public service career, you might be eligible. If you have formally volunteered in the AmeriCorps, Peace Corps or Vista programs, you might also qualify for loan forgiveness for all or part of your remaining student loan balance.
Now that you know about South Carolina student loan forgiveness and what requirements need to be met, you can continue to learn more about the program and find out if you are eligible. Remember, if you are not eligible for loan forgiveness, there are other programs that can help relieve the burden and stress of your student loan debts. A qualified student loan professional can walk with you through the entire process to help you learn about all your options. Most student loan companies work with you without any charges to help you get the assistance you need to pay off your student loans.
