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There seems to be a new program to forgive student debt for those who choose to go into a career of public service (including teaching). As a teacher, I'm interested in that option but it's not clear if this will actually help much. From what I've been able to glean from the website, the government will pay off the rest of your loan after you have made a total of 120 payments. Which might be of some use, but the strange thing is that it seems that in order to qualify towards the 120 total, they require those payments to be at least in the amount of a ten-year payoff schedule. Which means if I'm understanding it correctly (and I'm not sure that I am) that they will pay off your loan after it has been paid off!?

Does anybody know something more about this program?

http://studentaid.ed.gov/repay-loans/forgiveness-cancellatio...
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