Saturday, September 08, 2007

This could be helpful.

I just read where Congress has passed legislation that greatly impacts student loan recipients. That would be me. ;-)

"The legislation, hammered out in a House-Senate conference committee this week, alters many of the ground rules for financing higher education, offering forgiveness on student loans to graduates who work for 10 years or more in public service professions like teaching, firefighting and the police, and limiting monthly payments on federally backed loans to 15 percent of the borrower’s discretionary income...." more

I am a teacher. This could really be beneficial to us. I have student loans that are pushing $50,000. (I have 2 degrees). I have been teaching for 6 years. Granted, I can't get the loan forgiveness for 4 more years, but in the mean time I can get my payments reduced. This really is huge for me. I hope that President Bush will sign it now. It may be one of the only good things he does while in office. LOL

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