student loan forgiveness

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I keep hearing about Obama's new student loan forgivness plan and that nurses can have thier student loans forgiven. Can anyone give me the details on this or point me in the right direction? Ive been out of school for 2 years and I'm working for a nonprofit organization, which I read is one of the qualifications. Thanks

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Specializes in Critical Care, ED, Cath lab, CTPAC,Trauma.
If you are employed in certain public service jobs and have made 120 payments on your Direct Loans (after Oct. 1, 2007), the remaining balance that you owe may be forgiven. Only payments made under certain repayment plans may be counted toward the required 120 payments. You must not be in default on the loans that are forgiven.

TRUSTme it isn't as forgiving as you think...you have to go to a website that will answer these questions

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Esme...you must have made 120 payments on your Direct Loan? 120 payments would be a monthly payment for 10 years. Isn't that equivalent to what student loans last for? I know mine are.

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.
Esme...you must have made 120 payments on your Direct Loan? 120 payments would be a monthly payment for 10 years. Isn't that equivalent to what student loans last for? I know mine are.
Some peoples' student loan terms are stretched out to 15 years, 20 years and longer. A friend graduated from an expensive private university in 2001 and is still making payments. She says she'll die with student loan debt.
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Specializes in Critical Care.

HRSA has a loan repayment program. It is very competitive and there are certain qualifications you must meet.

Nurse Corps Loan Repayment Program

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Specializes in Critical Care, ED, Cath lab, CTPAC,Trauma.
Esme...you must have made 120 payments on your Direct Loan? 120 payments would be a monthly payment for 10 years. Isn't that equivalent to what student loans last for? I know mine are.
I went to school long ago and I never had a student loan. I googled the loan forgiveness and found that information.
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Specializes in Critical Care, ED, Cath lab, CTPAC,Trauma.

I edited my original post...It needed quotes which I did not know weren't applied

Esme...you must have made 120 payments on your Direct Loan? 120 payments would be a monthly payment for 10 years. Isn't that equivalent to what student loans last for? I know mine are.
But that is what I mean by...they are not as forgiving as you think

http://www.direct.ed.gov/cancellation.html
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