If you're anything like the typical recent college graduate, you have student loans. And if you have a large amount of student loan debt, like many graduate students do, then student loan forgiveness might be the best option for you. But what's the first step? How do you know if your loans qualify for forgiveness? And what should you do if they don't qualify?
If you're pursuing student loan forgiveness you essentially have 2 options. Work for a government agency or non-profit and have your loans forgiven after 10 years, or work at a for-profit company and have them forgiven after 20 years. There are a few key details you need to pay attention to, if you plan on having your student loans forgiven, and the most important one is making sure you have the right type of loans.
Having the right type of loans is the most important step, because it's the first step. I've seen far too many people waste thousands of dollars on payments that won't qualify for student loan forgiveness, only to realize years later that they've been throwing money away. In the broadest terms, you might have 2 separate types of student loans government loans, and private loans. Your government loans are almost always dispersed through your school's financial aid office after filling out the FAFSA each year. These loans will be serviced through one of the companies below: