| In principle, student loans cannot be forgiven totally; | | | | Providing service in the military is another alternation for |
| however there are methods to pay off these loans by | | | | student loan forgiveness. These are peace-time jobs, |
| providing certain services. | | | | and often quite menial ones. However, students opt for |
| There are several socially benefiting jobs that a | | | | this for the sense of patriotism it creates and the thrill |
| student can do in order to pay his debts off. Working | | | | of working in the military. There are also voluntary |
| as helpers in medical clinics, teaching in understaffed | | | | social service organizations like the AmeriCorps and |
| schools, enlisting oneself in the military and social | | | | PeaceCorps that students can work for in order to |
| service are a few of them. | | | | get their loans reduced. |
| Students who learn medicine often incur heavy loans in | | | | None of these above-mentioned modes of providing |
| their studying period. There is an option for such | | | | services can provide 100% loan forgiveness. Generally |
| students to provide their medical assistance in | | | | students find a 15% waiver in the first and second |
| economically backward, disaster-affected or even | | | | years, 20% in the third and fourth year and 30% in the |
| war-affected regions. This is a method by which | | | | fifth year. Working for such institutions also helps a |
| students can get their loans forgiven. Since no | | | | student to reduce the term of repayment of the loan. |
| practicing doctor would like to take up a job in such | | | | It is debatable whether a student should work away |
| areas, recruiters often lean on such student defaulters | | | | his loan in this manner. Since none of the occupations |
| to garner medical aid in such regions. | | | | are highly fulfilling in the economical sense, a student |
| Teaching is another way to get student loans waived. | | | | must go for them only out of an ardent desire for |
| Before July 1, 1987, borrowers had to teach in schools | | | | social betterment. Also, considering the amount of time |
| having a low-income clientele. After July 1, 1992, student | | | | a student has to put in (generally five years), it is not a |
| borrowers can also teach in certain subjects in | | | | prudent option for those who want to build their |
| understaffed schools to get their loans waived. | | | | careers. The practical approach of students is to work |
| Teaching schools with 'special-case' children is also a | | | | for other companies which remunerate them better |
| method that the government provides students who | | | | and pay off their loans out of their income. |
| wish to get their loans forgiven. | | | | |