Choose career options to help pay off student loans
Even if you are not in college and you already have a debt, you still have options that can cover the various passions that you may have. Although these programs do not cover everything, they cover a fairly wide range of possibilities.
Do you want to work with non-profit organizations or on a voluntary basis? AmeriCorps can be a good bet. During the service, you can ask for your federal loans to be put off. When you finish the service, you will receive a Segal Education Award of up to $ 5,730 to apply for a federal student loan.
Would you prefer to serve on board? Peace Corps is another option. During maintenance, you can also request a deferment of deferred loans. Upon completion of the service, you will receive a lump sum of $ 8,000, which can be applied to student loans of your choice.
Even if you do not want to voluntarily participate, there are options that pay a salary and can potentially bring additional benefits to students.
If you are a teacher working in a qualified school, you may be eligible for a student loan for teachers. For example, you could get up to $ 17,500 through the “Teachers’ Credit Profiling ”program.
Or, if you work in a non-profit or government job, there is a forgiveness of a government loan. Make 120 student loan qualifying payments over ten years, and the rest of your federal student loan can be forgiven.
Learn more about : Student Loan Forgiveness Program
Rate all repayment options
Even if you are not eligible for specific repayment programs that can help you get overdue student loans, you could at least reduce payments.
Since these options can actually increase the amount, you should best rely on them only as a short-term strategy. For example, you may have spent a year or two after the college tried out its passion, but now you are ready to switch to something new (and, possibly, higher pay).
Redemption based on income can reduce your payments during this period, but allows you to increase payments after increasing your income.
You may be able to qualify for a consolidation and refinancing student loan.
Learn more about :Corinthian colleges student loan
Try your passion on the side
It is not always necessary to devote your life to your passion, at least immediately. If you can’t or don’t want to give up your income, but still have a passion for pursuing passion, why not devote yourself to it a few hours a week?
Perhaps you want to voluntarily help feed the homeless. A friend of mine dedicates every night on Thursday when she leaves her day job to do just that. She is very involved in this non-profit work, although she does not do it full-time.
If you want to try other career fields or tasks, start with the side fuss. You can either earn extra money or get valuable information about how you really like it as a job before doing it full time.
These are low risk strategies in terms of your time, your career and your money. And keep in mind – simply because you believe that your passion does not mean that it is. You can find out that this is not something you want to devote to your full-time job.
Okay, okay, I could not help but get a little “woo woo” to finish this post – we are talking about the pursuit of your dreams here.
At the end of the day, think about what decisions will leave you without regrets. Would you feel worse if you never gave your passion a chance because of a student loan debt? Or will you regret losing your income in exchange for a potential increase in student loan payments? Only you can answer these questions.
For more information : https://studentloansresolved.com/