CONGRESS: Forgive student loans to Nurses and Teachers

This article could have been more specific about student loan forgiveness. What it doesn't explain is that under the terms of the bill, you have to work in a public service area for 10 years -- and have already made 10 years of payments -- before the balance of your loans is forgiven.

I would not put much stake in this or any other bill! More then likely it will not cover those who already had prior loans that are not paid off by the time this bill goes into effect... Confused by this statement? Let me expalin...

Currently there are "forgiveness" loans set up for public service and some degrees (military, peace corps... social work, teaching, nursing. etc). Regarding nursing, if you got your nursing degree before such and such date and/or you took out loans for your nursing degree while having student loans from prior degrees which were not paid off by the time the current bill went into effect, then your nursing loans do not qualify for the current program (there are other loop holes too but I will not go into them...). Thus, I doubt this new bill will help many!!

In fact, most bills that go through Congress to forgive loans are not set up to help the average student graduate! They are set up to cover as FEW student graduates as possible and give who ever supported the bill a political boost (Hello, America! Companies that give out money want their money back plus interest!!! Also, taxpayers do not want to pay your bills!!)!

On the other hand, this bill gives some of you hope and maybe that is enough for you for now? It does not work for me. That is why I advocate paying cash with WORK/savings/scholarships. GL.