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Summer Savings for Teachers

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School is out. Money is not coming in as steady as it did during the school year. You need to cut back on expenses to make those dollars stretch. What more can you possibly cut out before you are officially depressed? You can’t even walk to the mailbox without your heart sinking. Not another student loan bill that is more than all your utility bills combined! This has to stop. What can you do?

You can get payment extension on your pressing bills, you can get a summer job at your local grocery store, you can stop all fun in your life, or you can choose to consolidate those student loans that have been sucking the joy out of your being. None of these sound like the reason you went to college in the first place. You are a public servant. You are a do-gooder by trade. You buy supplies out of your own salary for a public servant job for goodness sake. Maria Montessori, Aristotle, Anne Sullivan, and you.They do not care if you started a family, went on with your life, and need that extra bit of change right now. You don’t deserve to live in debt.

Most people with student loans have heard of student loan consolidation, but it sounds too complicated and too good to be true. Consolidation allows you to extend the amount of time you have to repay your loans. Many of us have several loans after college and they all want you to repay them when you get out. Consolidating your loans will get you, the borrower out of default, and put you back into good standing with the Department of Education. The Teacher Loan Forgiveness program is probably the most beneficial of all the loan forgiveness plans available as teachers not only qualify for early forgiveness, but principal reduction as well. Teachers can be eligible for $5,000 to $17,500 in principal reduction on their loans under certain circumstances in the Teacher Loan Forgiveness program. The idea behind this principal reduction was to encourage young graduates to enter into a career of teaching, and also to continue that career. Teachers also qualify for complete loan forgiveness after 10 years of repaying their loans.

You can consolidate your student yourself? Yes. You can change your oil yourself, but have you ever? There are many companies that provide student loan consolidation. Trusted Debt Solutions takes pride in getting their clients out of default with their payments, walking them through the process of consolidating their loans, putting them on the lowest possible payment plan based on their unique situation, and following up with them to make sure they continue to pay the lowest rates known to man.

Your reputation is important. You are a pillar of your community. Debt is not what you what to be remembered for. Take control of your finances and then teach others how to be free as well. Show your students what is like to be a teaching professional in and out of the classroom. Now is the time, this is the summer. Walk into the next school year happy, healthy, and in integrity with your student loans.

Categories: For DIYers, Loan Forgiveness

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