Office of Personnel Management Director John Berry and Rep. John Sarbanes, D-Md.,Â tomorrow morning will announce a new program to forgive theÂ student loansÂ of people who work in the public and nonprofit sectors for 10 years. Sarbanes’ Public Service Loan Forgiveness Option will cover civil servants, as well as teachers, some health professionals and public interest attorneys.
And beginning July 1, people enrolled in the program might also be able to lower their monthly student loan payments based on a debt to income ratio. Take a look at this online calculator from the Education DepartmentÂ to find out if you might qualify for an income-based repayment plan, and if so, how much your monthly payments might be.
Carol Patterson Says:
June 30th, 2010 at 9:24 am
Did OPM ever set up the Loan Forgiveness Program it mentioned in mid-2009?