Neesi

Trufflesalt, I'm 27 (unmarried, no kids, but I do have a long-term boyfriend) and I too questioned the sticker price at the college I'm attending in the fall. (Simmons). The most poigniant reason why I decided to go get my MSW is the 2007 College Cost Reduction and Access Act. I believe it directly applies to your situation and that of many grad students and recent graduates here. Public Service Loan Forgiveness The College Cost Reduction and Access Act of 2007 established a new public service loan forgiveness program. This program discharges any remaining debt after 10 years of full-time employment in public service. The borrower must have made 120 payments as part of the Direct Loan program in order to obtain this benefit. Only payments made on or after October 1, 2007 count toward the required 120 monthly payments. (Borrowers may consolidate into Direct Lending in order to qualify for this loan forgiveness program starting July 1, 2008.) The public service loan forgiveness program has several restrictions: Term: The forgiveness occurs after 120 monthly payments made on or after October 1, 2007 on an eligible Federal Direct Loan. Periods of deferment and forbearance are not counted toward the 120 payments. Payments made before October 1, 2007 do not count. Likewise, only payments on a Federal Direct Loan are counted. What is forgiven? The remaining interest and principal are forgiven. Employment: The borrower must be employed full-time in a public service job for each of the 120 monthly payments. Source: http://www.finaid.org/loans/publicservice.phtml Another source with info specific for LCSWs/MSWs, etc: http://www.socialworkers.org/loanforgiveness/default.asp