New loan forgiveness programs encourage graduates to pursue careers in public service

Two-thirds of college graduates leave school nearly $20,000 in debt, according to the National Postsecondary Student Aid study. With mounting job losses and unemployment at a 25-year high, those considering changing careers and pursuing passions must weigh the risk of a pay cut.

But now some students can reduce – or even wipe out their debt – just by following their calling. More liberal loan forgiveness programs are adding a financial incentive to working in traditionally low-paying fields

Source: http://money.cnn.com/2009/04/15/news/economy/loan_forgiveness/index.htm

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