Wise Up!Free articles to help any professional with student loans gain a better understanding of how to eliminate this debt and improve their financial future.
A Guide to Student Loan Forgiveness Programs
For those who qualify, student loan forgiveness can be a great way to reduce the number of payments you’ll make and potentially save you a lot of cash. There are many strategies to paying off your student loans quickly, and they will be different for every individual or couple. In this post we will focus specifically on student loan forgiveness programs.
- Forgiveness Program Eligibility
- Public Service Loan Forgiveness
- Teacher Loan Forgiveness
- Disability or Death
Income-Driven Student Loan Repayment Plans
The US Government has established 4 repayment plans that are linked to your yearly income. Based on some information from your tax returns, the government will establish a monthly payment amount for you each year. As your income rises or lowers, your payment will rise and lower. After a period of 20 or 25 years, any outstanding balance on the loan will be forgiven.
- Types of Repayment Plans
- Discretionary Income
- Marriage and Repayment
- Loan Forgiveness
- How to Apply
- Selecting the Right Plan
Tips on Surviving a Furlough
In the airline industry, it is not an unusual scenario for a pilot to find themselves furloughed at least once in their career. Furloughed pilots have to decide if they should wait it out, or find a job elsewhere. A furlough could last from a few months to many years, and finding a job at a different airline would mean starting out at the bottom of the seniority list and pay grade.
- Financial Preparedness
- Budgeting & Spending
- Health Insurance