Take It From a Grad Student
To forgive is divine-- especially for loans

Forgiveness is a wonderful thing.

The summer after I graduated from college, I called all my loan providers to inquire how much I owed them. But when I called my federal Perkins Loan adviser, she started asking me questions, “What is your degree in?” and “Do you intend on teaching that subject?” When I explained I was pursuing a career in journalism with my English degree, she said to call back if I ever changed my mind about teaching because the government often forgives Perkins Loans for public-service careers like teaching.

Since I didn’t want to be a teacher, I never thought twice about it. But this past Christmas when my husband Gerry said he was considering a career in law enforcement, I remembered that conversation with my Perkins Loan adviser. “Law enforcement should count as public service,” I thought. So I called her back and asked if my husband would qualify for the cancellation.

And, fortunately for us, he does. My adviser explained the loan forgiveness applies to individuals involved in teaching, law enforcement, the Peace Corps or ACTION, or the military, as well as various other public-service fields.

But in order to apply for Perkins Loan cancellation, she explained the candidate must obtain the appropriate forms from the student-loan office where he or she made the loan. At that time, the school might request additional documents validating his or her public-service status. Also, the candidate must be working full-time in his or her industry to qualify.

LESSON LEARNED: Certain career paths come with incentives like Perkins Loan cancellation. Also, Congress recently created the Public Service Loan Forgiveness Program allowing those who work full-time in public-service jobs to qualify for forgiveness of the remaining balance due on their eligible federal Stafford student loans. But each loan program has its own requirements for qualifying, and each school has its own procedures for receiving cancellation. So before you pay back a penny, check with your loan advisers and financial-aid office to see if you qualify for forgiveness.

Ashley Cerasaro is a graduate student studying journalism and electronic media at the University of Tennessee. In a regular textme column, she shares her college experiences with high school students so they can be more informed about higher-education issues than she was. E-mail her at acerasaro@utk.edu.