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Public Service Employment Could Mean Student Loan Forgiveness

Heavy student loans have made it difficult for workers from Gen X and Y to get ahead on their stagnant salaries paired with the rising cost of living. The generally low salaries of public-service jobs have deterred many younger workers from sticking out employment with state, federal, and local governments, but a new law that takes effect Tuesday should help to retain many of these employees and attract some new ones.

The College Cost Reduction and Access Act contains a debt-forgiveness provision that will erase student-loan debt after 10 years of public employment. This Los Angeles Times article titled "Public Service Work Can Wipe Out Student Loans" is a thorough resource that's an easy-to-follow Q&A format. Check it out for more information about loan forgiveness.

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