There is much debate about forgiving student loans in the political lexicon. However, a loan forgiveness program already exists and has for years. If you and your employer meet the criteria, you may be eligible for forgiveness too.
You may be eligible for forgiveness of your student loans if:
- Your loan is through the Direct Student Loan Program.
- You’re employed with a 501(c)(3) Nonprofit Organization (or the government, Americorp, or a school).
- You’re making regular payments toward the goal of 120 payments.
Most people think they need to work in community mental health, or in a hospital in order to qualify for student loan forgiveness through the Public Service Loan Forgiveness Program. In many communities, this is true. But not here in Vermont.
The Vermont Wellness Collaborative is a 501(c)(3) nonprofit mental health organization that specializes in outpatient private practice services. Through the collaborative you can be in private practice and qualify for student loan forgiveness.
Get in touch with us to learn more.
Additional resources:
National Council of Nonprofits Page on the PSLF (nonprofit website)
Complexities of the Public Service Loan Forgiveness Program (NY Times Article)