How have i not heard of this before…!!!
Basically during the last legislative cycle a bunch of public interest groups got together and pressured Congress to pass this act which will make it much easier (financially speaking) for graduates with heavy federal debt loads to work in in the public sector. For once Congress actually did something to help the little guy. The big deal here besides the financial aspect of it for the ex-student is that getting our best and brightest into the public sector is the only way (in my opinion) that civil society in this country will ever get better and more active…
Thanks Ashgar for the info….
A Quick Summary of what it is all about.
Income-Based Repayment (IBR) is a new way to make your federal student loan payments more manageable starting next year. And if you’re a teacher or work in government or at a nonprofit (501(c)(3)) organization, you might qualify for a new type of public service loan forgiveness after 10 years of eligible payments and employment.