Student loans

Some people get their student loan forgiven. Here’s how to see if you qualify

Lawmakers have made promises for years on student loan forgiveness. But for some Cincinnatians, it’s happening right now. Anisa Shomo knows all too well the high cost of higher education. She is a family physician at the University of Cincinnati Health. Graduating was a long and expensive process. time, so it was really good news when I was in medical school that there was this pathway,” said Shomo, a family physician at UC Health. Shomo was able to use the public student loan forgiveness program, established in 2007. People like her who meet certain conditions, including working in a public or nonprofit sector for 10 years, are eligible to have their loan forgiven. ready. And for Shomo, that moment has just arrived. “Just like that, over $53,000 was paid.” It says I have met my obligation and no further payments are required on these loans,” Shomo said. Shomo is one of the first wave of workers to receive these letters. that I’ve done the work for the last 10 years, I’ve worked with the community that I wanted to work with and it’s really great to be rewarded for this kind of work. It is not easy. You often work in underfunded health clinics and not with all the resources you need,” Shomo said. Now this is not a program where they give out free money. Eligibility requirements are strict – and they start with where you work. You must be employed by the federal, state, local, or tribal government or a qualifying nonprofit organization Your employment must be full-time You must have loans directYou must make an effort to repay them – using an income – driven repayment plan. You must make 120 qualifying payments on time.

Lawmakers have been making promises for years about canceling student loans.

But for some Cincinnatians, it’s happening right now.

Dr. Anisa Shomo knows all too well the high cost of higher education.

She is a family physician at the University of Cincinnati Health.

Graduating was a long and expensive process.

“As millennials, the price of education has really gone up in a short time, so it was really good news when I was in medical school that there was this path,” Shomo said. , a family physician at UC Health.

Shomo was able to use the public student loan forgiveness program, established in 2007.

People like her who meet certain conditions, including working in a public or non-profit sector for 10 years, are eligible for loan forgiveness.

And for Shomo, that moment has just arrived.

“And so I took the letter off the table and opened it and it said ‘congratulations!'”

Just like that, over $53,000 was raised.

“It indicates that I have met my obligation and no further payments are required on these loans,” Shomo said.

Shomo is part of the first wave of workers who receive these letters.

“I’m just so grateful because I’ve done the work for the last 10 years, I’ve worked with the community that I wanted to work with and it’s really great to be rewarded for this kind of work. This is not easy. You often work in underfunded health clinics and not with all the resources you need,” Shomo said.

Now this is not a program where they give out free money.

Eligibility requirements are strict – and they start with where you work.

  • You must be employed by the federal, state, local, or tribal government or a qualifying nonprofit organization
  • Your job must be full time
  • You must take out direct loans
  • You have to make an effort to repay them – using an income-based repayment plan
  • You must make 120 qualifying payments on time.

Shomo said anyone who applied from 2016 to 2020 and didn’t get it should apply again.