Education Loan Repayment Program Created For Dual Benefits

2008-01-02 15:07:10

( Financial )



The education loan repayment program was created to provide recruitment and retention incentives. In certain fields of work, there are shortages of qualified professional workers. This program helps in attracting applicants to enroll or involve themselves in these fields. The most in demand professional workers are the registered or accredited health professionals and educators. Education loan repayment program makes an effort to attract applicants in these lines of education, and hopefully, in the future, to involve themselves in these lines of duty. There are qualifications to be considered when one wants to get approved for education loan repayment program. Researchers are also qualified to apply for debt settlement programs provided that their research is not prohibited by the government.

Required eligibility is that the applicant should be working full time as a health worker or as a teacher. Eligibility as a member of a family in a low income bracket is also highly considered by this debt reduction program. It is a legally bound service obligation that should be met by the applicant according to the signed documents that should be fulfilled. Payment projections are estimated by the non-profit institutions or government institutions according to the applicant’s repayable debt.

It is an advantage for applicants who had applied for educational financial aid but is having difficulty to repay the debt programs. In exchange for a few years of full time work with health institutions, as a teacher, or as a researcher, an education loan repayment program will repay part or full educational financial aid loans of an applicant.

Education loan repayment program is approved on a case-by-case basis. Debt settlement programs are computed using the documentation submitted by an applicant. The debt programs approved for the applicant are not a fixed amount. The amount could vary depending on the eligibility of the applicant and the loan program the applicant had applied for.


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