American Opportunity Tax Credit Eligibility

The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student. If the credit brings the amount of tax you owe to zero, you can have 40 percent…

Who Qualifies for Borrower Defense to Loan Repayment Forgiveness?

Under the law, you may be eligible for borrower defense to loan repayment forgiveness of the federal student loans that you took out to attend a school if that school misled you or engaged in other misconduct in violation of certain state laws. Specifically, you may assert borrower defense by demonstrating that the school, through…

What to do if you have been victimized by Student Loan Fraud?

Student loans have pumped trillions of dollars of taxpayer funds into paying tuition, fees, and other expenses for students. With so much money moving from the federal government through so many hands, inevitably scams and student loan fraud would crop up to target the largesse. This type of fraud represents one of the fastest-growing areas…

Loan repayment assistance for lawyers

Many incoming law students profess a desire to practice public interest law upon graduation. For whatever reason, a humongous percentage of these end up employed in the private sector. Perhaps some had a legitimate change of heart. A lucky few voluntarily chose a prestigious firm with a lucrative salary. Others never intended to work in…

Loan repayment assistance for doctors and other health care professionals

While pursuing a career in pharmacy can lead to a six-figure salary, it can also lead to six-figure student loan debt . Doctors have a number of  loan forgiveness options. A lot of these   programs  awards money to other health care professionals, such as pharmacists. To learn more Click on the following  link:  https://bhw.hrsa.gov/loansscholarships

Student loan forgiveness for nurses

Nursing is a great profession for student loan forgiveness options. The requirements for becoming a nurse require a solid education foundation, especially since more responsibility as a nurse requires more schooling. The NHSC and Nurse Corps programs build healthy communities by providing scholarships and loan repayment to health care providers in exchange for working in…

Student loan forgiveness for teachers

There are several loan forgiveness and repayment assistance programs for teachers. Aside from Public Service Loan Forgiveness and federal Perkins cancellation, there are a few other programs specifically for teachers. Teacher Loan Forgiveness This national loan forgiveness program helps teachers pay back their student loans. You must work in a qualifying school for at least…

Federal Perkins loan cancellation

If you took out a federal Perkins loan to pay for school, you could qualify for loan cancellation in a variety of ways. Who’s eligible? Perkins loan cancellation is a popular program among teachers, as many people who work in education might qualify. You might be a teacher, librarian, speech-language pathologist, or another type of…

Forgiveness with Income-Contingent Repayment (ICR)

Income-Contingent Repayment also adjusts your monthly payments according to your income. You’ll either pay 20% of your discretionary income or what you’d pay on a fixed 12-year plan, whichever is less. While ICR might not lower your payments as much as other plans, it does have one advantage. ICR is the only income-driven plan available…

Forgiveness with Revised Pay As You Earn (REPAYE)

Revised Pay As You Earn (REPAYE) works much the same way as Pay As You Earn. Generally 10 percent of your discretionary income. Borrowers with undergraduate loans must make consistent payments for 20 years. Those with loans for graduate school or professional study must make payments for 25 years.