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Letters to the Editor 12/12
Published 12/12/2011
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More research needed


I realize finals are here, but that is no excuse for Billy Stetson to not research a topic before writing on it. Loan forgiveness already exists. When the government took over student loans, becoming the primary lender, it also brought with it a new loan forgiveness program.

For anyone who qualifies for Public Service Loan Forgiveness (PSLF), any remaining balance of their loan is forgiven after 10 years of payments. This also means that anyone who consolidates their commercially held loans (loans held by banks) using the new Special Direct Consolidation Loan program can quality for PSLF. While you have to have at least one of the newer direct federal loans to quality for the consolidation loan, a great many students will be able to qualify. This means they will also be able to qualify for PSLF.

For those that cannot qualify for PSLF, several volunteer organizations such as AmeriCorps will give you money in addition to your stipend to pay for student loans in exchange for volunteer work. The National Defense Education Act provides loan forgiveness for teachers at low-income schools.

Loan forgiveness is not a pipe dream, it is a reality. You just have to work for it.

Derek Held
senior, computer science

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