Reducing and Deferring Student Loans

I did some research on possibly reducing the amount and/or deferring my loans after school. I'm not sure if my situation warrants applying for this, however I still think its still extremely useful to know.

www.FederalStudentAid.ed.gov

It's the governments loan forgiveness for Public Service Employees. If anyone else has some insight on this it would be great.

Here is some additional information:

The borrower must be employed full time (in any position) by a public service organization, or must be serving in a full-time AmeriCorps or Peace Corps position. For purposes of the Public Service Loan Forgiveness Program, the term “public service organization” means –

- A federal, state, local, or Tribal government organization, agency, or entity (includes most public schools, colleges and

universities);

- A public child or family service agency;

- A non-profit organization under section 501(c)(3) of the Internal Revenue Code that is exempt from taxation under section 501(a) of the Internal Revenue Code (includes most not- for-profit private schools, colleges, and universities);

- A Tribal college or university; or

- A private organization that is not a for-profit business, a labor union, a partisan political organization, or an organization engaged in religious activities (unless the qualifying activities are unrelated to religious instruction, worship services, or any form of proselytizing) and that provides the following public services –

- Emergency management;

- Military service;

- Public safety;

- Law enforcement;

- Public interest law services;

- Early childhood education (including licensed or regulated health care, Head Start, and state-funded pre-kindergarten);

- Public service for individuals with disabilities and the elderly;

- Public health (including nurses, nurse practioners, nurses in a clinical setting, and full-time professionals engaged in health care practioner occupations and health care support occupations);

- Public education;

- Public library services; and

- School library or other school-based services.