Could you benefit from Obama’s student loan programs?

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Got debt? New initiatives from the White House might help you out. (Photo: Serge Melki, Flickr/Creative Commons)

Student loan expert Heather Jarvis writes:

On October 25, the Obama administration announced executive orders designed to assist struggling student loan borrowers. The President announced two new student loan initiatives:

  • Pay As You Earn, making the Income-Based Repayment plan more generous for certain borrowers by fast-tracking improvements to the way payments are calculated and reducing the time it takes to earn forgiveness, and
  • “Special” Consolidation Loans providing a modest interest rate reduction for student loan borrowers who have a specific combination of student loans.

If you’re wondering how these new initiatives might apply to you, read all the nitty-gritty details on Heather’s blog.

p.s. Want to meet Heather Jarvis and ask her your questions in person? She’ll be at our Idealist Grad Fair in Chapel Hill, NC this Saturday. Please spread the word if you’re in the Triangle!

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Three financial aid resources for people in public service

By Amy Potthast.

If you are in a public service career and carrying—or considering—student debt, your life just got a little easier.

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You'll make it through these piles! (Photo from troismarteaux on Flickr/Creative Commons

Here are three resources to help you navigate your repayment options:

1. AskHeatherJarvis.com

Heather Jarvis is a national expert on public service loan forgiveness who contributed to student debt relief policy for the House Education Committee and others in Congress. Her new site is a clearinghouse of information about managing your debt while working in a mission-based career.

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2. IBRinfo.org

IBRinfo is an independent information hub about income-based student loan repayment and public service loan forgiveness – two relatively new federal programs that help student borrowers afford an education.

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3. EdAward.org

For former AmeriCorps, VISTA, and NCCC members out there, check out the official CNCS website on the Segal AmeriCorps Education Award. The Education Award—around $5,000—can be used to pay back student loans and/or to pay tuition at qualifying schools.

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If you’re thinking ahead about financial aid for grad school, consider these additional resources from Idealist:

Amy Potthast served as Idealist’s Director of Service and Graduate Education Programs until 2011. Read more of her work at amypotthast.com.

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