Thursday, March 15, 2012

Forgive Me for I Took Out Student Loans

"Oh my gosh! It's the fourteenth!" I cry.

"So?" Justin asks casually.

"I haven't paid your student loans. I haven't even seen a bill. They are usually due on the fourteenth!"

Cue panic attack.

No one wants to be late on a bill.

No one wants to be late on a $$HUGE$$ bill. (The monthly payment is equivalent to the rent in our first apartment. Yikes.)

No one wants to be late on a $$HUGE$$ bill that will affect the interest discount for the next ten years you get for paying on time.

"Let's see if we can pay it online," Justin calmly suggests.

He goes online and our jaws drop. We cannot pay the bill online.


The loan has a balance of $0.

Cue happy dance!!!

Last year, Justin applied for a student loan forgiveness program - two years of work in an underserved area in exchange for loan forgiveness. Apparently, his loans were paid off this month and we didn't even know it.

Justin is a mental health and substance abuse counselor. Anyone familiar with social service fields know they don’t pay extremely well. They also know that social service fields require graduate degrees. And anyone familiar with the costs of college know that graduate degrees are spendy.

I often thought of underserved areas as a teeny town in Alaska or a backwoods holler in the South and the thought of living like a pioneer for a couple of years scared me. We were happily surprised to discover that the small city/large town we currently live and work in qualifies as an “underserved area.”  If you have a degree in medicine, social services, teaching, or anything on those lines, check out loan repayment programs in exchange for working in underserved areas. This is such a big benefit to our family!  

So, two years of committed work rather than ten years of monthly payment bondage (or even twenty years if you reduce your payments).

Pretty good swap!

Thanks, honey, for figuring this out. Such a blessing!


Haylee said...

Yay!! You must be doing something right...what a huge blessing!

Jewls said...

That IS great news! Woohoo!

Rachel said...


We've been looking into becoming an approved "site" for this program so our employees can apply for it. We have some concerns about how it works, though. I'll have to see if my boss can get with Justin's boss and figure it out.

Anonymous said...

Hooray you guys - what a wonderful break and at a great time, before Joci's sister a

rochelle said...

wow! That is a huge blessing! Isn't it cool how Heavenly Father works to help us out? Congrats to you!!!


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