The high cost of a college education has left many young professionals with crippling student loan debt as they graduate. Once you enter the workforce, however, you must make sure that you don’t get behind on your loan payments. If you’re looking for a way to get some relief from this debt, you may want to consider a different career. Here are the ideal jobs to have to get help paying back your student loan debt.
In some cases, landing a teaching job can help you reduce your student loan debt. There are multiple opportunities for teacher loan forgiveness. In most situations, you must work in a school for at least one year to get some of your debt cancelled or forgiven. There are more loan cancellation programs for teachers in low income areas, teachers in subjects where there are staff shortages, special education teachers, and math and science educators.
For nurses, there is a program that can help you get your payments on track by reducing the amount of debt you owe. This program is found through the Nurse Corps Loan Repayment Program. Nurses enrolled in this commit to working in low income areas in order to provide quality healthcare to those who may not have had full access in the past. Once a nurse has worked for two years in the program, then he or she is eligible to get a debt reduction.
Individuals who have decided to serve their country can also take advantage of some of the programs offered for student loan assistance. After enlisting, soldiers can take advantage of free tuition benefits with the GI bill, but that doesn’t address existing student loan debt. For previous balances related to the cost of education, military members can use benefits that are given to any public service employee. After making payments for at least ten years, the remaining balance can be forgiven.
Certain volunteer programs may also be able to help you reduce your loan burden. If you are interested in volunteering after completing your degree, programs such as AmeriCorps or the Peace Corps make it financially possible. While you won’t generate an income as a volunteer, you can get some of your student debt forgiven if you complete the terms of the program’s service contract.
5. Social Worker
Those who choose to work as a social worker often have a low salary and lots of tough working conditions. One thing that is now being offered to these public service employees is the opportunity to get some of their student loan debt reduced. Since social workers work for the general good of society, they can take advantage of some of the student loan forgiveness programs offered for most public service employees.
6. Public Defender
Beginning a career in law sometimes puts a person in six figure student loan debt. One way to get some relief from this debt is to consider work as a public defender for a few years. In return, you may qualify for getting some of your loan balance cancelled.
7. Police Officer
Working as a police officer is another way you could get access to student loan debt reductions. While the salary for this career isn’t high, if you are interested in this line of work, you could provide a large benefit to society. Because of the selflessness of this career and the sacrifice, you can get part of your student debt taken away.
8. Federal Government Worker
Getting hired by the federal government gives you access to excellent healthcare, a competitive salary, and even possible student loan forgiveness. In order to get your loan cancelled, you must consistently make 120 payments. Missing payments can disqualify you from the program. If you know you may be short one month, you should consider a short-term loan, like some options from Speedy Cash, which is led by president and CEO Don Gayhardt, a financial services expert with a long record of success.
9. Military Doctorpre
Doctors are one of the professions that leave school with some of the highest student loan debt balances. While high salaries help medial doctors begin to tackle their debt, you can get even more help with your payments if you sign up to be part of the military’s medical team. Just like an enlisted soldier, working as a military doctor can give you some welcome relief from high student loan balances.
10. Automotive Worker
The last career choice that could help you pay back your loans is an automotive worker. One way that the nation’s automotive industry is being supported is through a student loan payback program offered by the Specialty Equipment Market Association. This group makes it possible to receive up to $5,000 in student loan forgiveness.
Confronting the reality of high student loan payments after graduation can be tough when you’re first starting out in your new career. If you have chosen some of these careers that are primarily based on public service, you could see smaller payments and shrinking student loan balances throughout your service.