There are many teachers who have to take on second jobs or leave the profession all together to obtain a larger salary paying position in order to make ends meet. Where many school districts expect applicants to have earned their Master's degree, six years of college tuition and expenses is a heavy burden to a starting salaried teacher.
Tenure is everything to an educator. It brings some job security as well as a steady climb up the salary pole. With a Master's in hand or expected in the first five years of employment, young graduates are struggling to make ends meet. The six month grace period seems like a great idea when attending school. When real life sets in and those six months of no payments fly by, it's a hard expense to swallow.
Federal teacher loan forgiveness programs are offered by the Department of Education, but unless you apply and qualify for the program, you will not receive any of the assistance. It is important to any person who does not qualify that they seek out alternative programs. In the worst case scenario, Income Based Relief programs will at least make them affordable. For young adults starting out at the bottom of the salary scale, an IBR will provide student loan debt relief.
If your application for teacher loan debt forgiveness is denied, don't give up hope. Call a student loan debt relief company for a free consultation as to what other avenue you can pursue. For many other options, you will still have to qualify, each having their own set terms and procedures. Make sure that you know what is in front of you before you make any rash decisions which might disqualify you from another program.
The last thing you should do is to avoid payment without getting involved with a deferment or forbearance program. Federal debt won't go away no matter how hard you try to ignore it. You can search the Department of Education government website for additional information on IBR or consolidation for federal student loan debt.
Private loans will not qualify for government programs. Your best bet is to get your federal debt covered by one or more of the Department of Education options and then see what you can do with your private loans. These loans will have to be settled in the private sector and they will rely heavily on credit worthiness.
Take the confusion out of applying for federal help whether you are facing potential forgiveness programs or income based ones. Talk to a student loan relief service to see what types of programs you may be eligible for. Getting the right relief at the right time is what makes public worker loan forgiveness programs work for household budgets.
If you are looking for student loan help, National Student Loan Relief (NSLR) is the right place to start. We work hand-in-hand with the Department of Education to efficiently relieve Federal student loan debt. Visit National Student Loan Relief at http://www.nslrelief.com/ for more information.