Obama’s Student Loan Forgiveness Plan
Obama approves student loan forgiveness program but in reality there is no student loan program that offers a complete forgiveness for student loan. Obama was talking about the programs that offer you the forgiveness of the remaining balances of your student loans after 20 years. Your remaining loan balances will be forgiven after 10 years if you are a public service worker. That’s quite unrealistic, because everybody can’t work as a public service worker for at least 10 years to get the forgiveness on their student loans.
A teacher loan forgiveness program exists for free and direct loans and you can avail it if you are a teacher, but not all teachers can qualify for it. Only full time teachers are qualified for teacher forgiveness program, such as those who have been working as a teacher for 5 consecutive years either at an elementary or secondary school at the low income schools. You