Newspaper article The Florida Times Union

Picking the Right Career Can Help Alleviate Payment Plans

Newspaper article The Florida Times Union

Picking the Right Career Can Help Alleviate Payment Plans

Article excerpt

Byline: Sarah Skidmore, Times-Union business writer

Making your payments work can depend on what kind of work you do. Choosing careers or work options carefully may help you repay your loan.

Programs through Americorps, Peace Corps or Volunteers in Service to America, known as VISTA, provide money for loan re-payment and also options for deferment or reduction. You won't be making much, if any, money while doing this. That's why they call it volunteering. But the loan payments can be close to $5,000, or the debt can be reduced by as much as 70 percent.

If you are considering careers in any line that could benefit others, there is probably a break out there for you.

The military takes recruits before and after college and offers generous payment for past school debt and future costs. Some teaching programs completely forgive your debt in exchange for working in an area with a teacher shortage, a low-income area or through other agreements. …

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