Student loans have become almost the norm in our society.  I have blogged about it several times-so this is not another rant about the dangers of going overboard on student loans…..

Last year the government began a new program called Income Based Repayment-to assist those whose student loan repayment plans were taking up so much of their income each month-that they couldn’t afford them.

I have identified a few helpful links to assist you in determining if you are eligible.

I have been told by several readers that my investing blog posts are difficult to understand-(even though I try hard to make them easy/simple)  Not your fault, I just need to get better at   ‘splaining.

But the student loan world is so complex, dark, and difficult-that I keep thinking Darth Vader is going to come at me with his light saber!!!!  For you young people, who don’t remember Star Wars-Let’s see……-maybe the villain from Twilight-”James”…..(yes, I had to google that, no I haven’t seen the movie, or read the books…..)

So anyway-the student loan universe is difficult to maneuver through-because there are so many different programs, options, acronyms-oh my!

But in short, the Income Based Repayment calculator is available to help you determine if you qualify for this plan.

The second part is that if you do qualify for Income Based Repayment, then you may also qualify for loan forgiveness after ten years of paying back your loan-if you work for the government, or certain 503-C based organizations.   Public health nurses would certainly fit here, along with school nurses-again if you meet the income guidelines.  So any money remaining after 10 years on the program are forgiven….

Again check this resource developed by the Feds, to help determine whether you may qualify-remember even if you work for a loan forgiveness eligible job, if you haven’t  been placed on the IBR (income based repayment) program-you are out of luck.

This link will help to direct you to the bank, Sallie Mae or whichever place you got your loan’s website for info…..