3 More Ways To Get Rid Of Your Student Loans (Without Paying Them)

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60 ways to get rid of your loans eBook cover

Check out the complete eBook at saltmoney.org!

It’s been over 6 months since we published our eBook “60+ Ways To Get Rid Of Your Student Loans (Without Paying Them).” Since it’s a new year, I thought it was about time to review all the forgiveness and discharge goodies inside to make sure everything is still up-to-date.

I’m sure glad we described this as “almost comprehensive,” because I found some changes that have occurred, as well as three new forgiveness options that I hadn’t heard of yet.

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Remember that you should always be on the lookout for new forgiveness programs. Let us know if you find any so we can include them in our next update!

OK, let’s first focus on the positive. We added three options to the eBook that you may be able to take advantage of. Here are their details.

1. Alternative Routes Program (Washington)

To Be Eligible …

This program was designed to recruit teaching candidates in subject shortage areas in Washington state (currently math, science, foreign language, and technology/media centers) and is for individuals seeking their initial Washington residency teaching certificates.

In return for a 2-year teaching commitment, you may receive up to $3,000 per year in scholarships to help pay tuition for your coursework, the cost of the subject knowledge test (WEST-E), or student loan repayment.

Loans That Qualify

  • Stafford loans
  • Consolidation loans
  • Parent loans
  • Grad PLUS loans
  • Perkins loans

Next Steps

Contact the Washington Department of Education for more information.

2. SEMA Loan Forgiveness Program

To Be Eligible …

This program helps recent graduates in the automotive aftermarket industry get off to a successful start. You must work for an employer that is part of the Specialty Equipment Market Association (SEMA) and:

  • Be a U.S. citizen.
  • Have completed a graduate, bachelor’s, associate’s, or certificate program.
  • Achieved at least a 2.5 GPA.
  • Have at least $2,000 in outstanding student loan debt.
  • Be employed for at least 1 full year prior to applying.

Loans That Qualify

  • Stafford loans
  • Consolidation loans
  • Parent loans
  • Grad PLUS loans
  • Perkins loans

If selected for the award, you will receive $2,000 toward outstanding student loans mailed directly to your lender. Previous recipients of SEMA Loan Forgiveness are not eligible to reapply.

Next Steps

Apply online or contact Juliet Marshall for questions at 909.978.6655.

3. Air Force College Loan Repayment Program

(How did I miss this one before??)

To Be Eligible …

This program is for all newly enlisted servicemembers. You must sign up for the program when enlisting to receive up to 33 1/3% of your student loan balance each year for a total of 3 years ($10,000 maximum).

Loans That Qualify

  • Stafford loans
  • Consolidation loans
  • Parent PLUS loans
  • Grad PLUS loans
  • Perkins loans
  • Auxiliary Loan Assistance for Students (ALAS Loans)
  • Federally Insured Student Loans (FISL Loans)

Next Steps

Contact an Air Force adviser or recruiter to learn more.

And, Some Bad News

Two programs that we originally included in the eBook are no longer funded. The John R. Justice Student Loan Repayment Program and the Minnesota Veterinary Loan Repayment Program are not currently being funded, but we’ll keep checking back and let you know if anything changes.

Do these options not apply to you? Visit saltmoney.org and see if there’s one that does in the updated eBook.  

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