Online College Students Could Have Their Student Loans Paid Off

Jul 29, 2010 27 Comments by

Although student loans can help students gain the educational qualifications they will need to compete in today’s difficult job market, some individuals may worry that choosing this form of financial aid could leave them with a great deal of debt. However, some college degree candidates may have their loans paid off by their employers or government agencies after they graduate.

Some campus-based and online colleges that offer education degrees partner with high-risk school districts to forgive the student loans of graduates who commit to teach in these areas for a certain period of time.

Prospective veterinarians can benefit from similar programs, as the National Institute of Food and Agriculture recently opened the application process for its Veterinary Medicine Loan Repayment Program. Through the initiative, qualified veterinarians who choose to work in areas that are experiencing shortages in the animal medicine field can have their loans repaid by the government. The institute covers up to $25,000 in educational debt per student per year.

Prospective students who plan to enroll in campus-based or online colleges may want to consider exploring similar financial aid options before they choose a course of study.

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27 Responses to “Online College Students Could Have Their Student Loans Paid Off”

  1. Craig says:

    $25k per year is a lot of coverage, thanks for the heads up!

  2. Kelly says:

    I heard that going to school online costs less overall. Is this true?

  3. Antoine Gatewood says:

    I’m a studentand i think it would be great to have my student loans paid off or financia aid assistance.l

  4. Neil says:

    I’m studying to become a veterinarian and I had no idea of the benefits, this is awesome!

  5. Tim says:

    This seems like a great way to pay off debt after college. Is it hard to find one of these programs?

  6. Jose says:

    So, is this student loan forgiveness based on what career one chooses?

  7. Heather says:

    I feel like I’m going to be paying off my debts forever but this gives me hope, thanks for posting!

  8. Eric says:

    If it’s going to help me with my loans it’s right for me! Thanks for this article :D

  9. contemplativeye says:

    Having recently graduated from college, I have several different loan providers and have many options as to how to pay it off. Some offer loan consolidation, others offer a reduced amount if I cannot currently meet the original deadlines, and others offer loan forgiveness for participating in programs such as the Peace Corps. A roommate of mine was from the Cayman Islands, and his government paid for his college expenses on the condition he act as a teacher on his island for three years.

  10. Kelly says:

    I know some programs such as the Peace Corps offer loan forgiveness or deferment by the government for applying to work in those programs. Are there any private sources who offer the same incentives?

  11. Dave says:

    Its great to see this program out there for students to take advantage of. College costs are doing everything but going down and there should really be more of these programs out there for students to take advantage of. No one should have to pay full price these days for a college degree, specially those of us who don’t come from a background of wealth a tall.

  12. Ashleigh says:

    Wow – this is amazing information! Becoming a veterinarian is one of the things I was considering and this may just be the deciding factor. Is this program expected to continue?

  13. Veronica says:

    This is really great to know. I am about to graduate this year and am going into teaching. Is it a good idea to look for a school district that offers to pay of your loans?

  14. Marjorie says:

    Are there a lot of companies that offer debt payoff for future employees?

  15. Lynnlee says:

    Is there somewhere that I can check for careers or companies that offer this benefit?

  16. Andrew Rosen says:

    I am currently completing my junior year of college in elementary education. Is there an financial help in paying off my college loans?

  17. Maria Lopez says:

    I am a student from Mexico, but have been living in the U.S. for the last 15 years. I have taken out some student loans to become a registered nurse. Can I apply for help in paying them off?

  18. Education Connection says:

    Hi Kelly. The total tuition at an online school may run you around the same as a traditional institution. Online schools do have the advantage of saving you money with textbooks, and other fees you may incur in a traditional setting such as buying a parking pass or fees for using their computer labs.

  19. Education Connection says:

    Hi Jose. According to the article, the student loan forgiveness is based on those who choose to be teachers or veterinarians.

  20. Education Connection says:

    Hey Andrew. While there is no easy solution to paying off your student loans you can try to contact your lender to see what they can do for you. Sometimes they offer consolidation, deferment, forbearance and so forth.

  21. Education Connection says:

    Hey Maria. Contact your university/college financial aid office to see if your state offers any school loan incentive to registered nurses.

  22. Education Connection says:

    Hi Lynnlee. If you’re considering a career with a certain company, many times they post whether or not they offer tuition reimbursements as part of their benefits. However, it varies from company to company and unfortunately I do not know of an easy to view list of companies that offer this benefit.

  23. Education Connection says:

    Hi Marjorie. Many companies offer tuition reimbursement, however, whether or not they offer debt payoff varies.

  24. Education Connection says:

    Hey Veronica. You may want to look into TEACH America.

  25. Education Connection says:

    Hey Ashleigh, to learn more about the Veterinary Medicine Loan Repayment Program please go here.

  26. Education Connection says:

    Hey Tim. The programs vary on the career you plan on pursuing and oftentimes finding a program to help pay off your loan may be difficult.

  27. Education Connection says:

    Hey Kelly. While most private loans do not offer loan forgiveness, you may come across some that offer deferment options and other ways to help you in paying them back.

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