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| Volunteering Service Scholarship |  The only way to get Scholarships for Volunteering and Ñommunity Service is by helping others. It allows you to do well by doing good.
Students who are involved in volunteering and community service can check if there is any financial aid available at the place where they perform their community help. The are scholarships for outstanding community service volunteers provided by churches, hospitals, historical societies, fraternal organizations and other community service organizations.
The Federal Work Study program also has to do with this scholarship. Schools are required to spend 7% of their Federal Work Study program funds to finance students employed in community service jobs. Besides, schools can even apply for additional community job funding. Schools appreciate community service workers, so if you fulfill the eligibility requirements for a Federal Work Study job, it will be good to get involved into such work as children tutor.
Public Service Loan Forgiveness discharges any remaining debt after 10 years of full-time employment in public service.
Eligibility:
- You should have made 120 monthly payments on or after October 1, 2007 on an eligible federal direct loan.
- You should be employed full-time in a public service job for each 120 monthly payments. To public service jobs refers also military service, public safety enforcement, public health, public education and early childhood education, public child care, public and school librarians, and other school services, social work and some other positions.
- Eligible loans: Federal Direct PLUS Loans, Federal Direct Stafford Loans, Federal Direct Consolidation Loans.
But be careful, as according to current law, the amount of debt discharged may be considered as a leviable income and it can lead to a huge tax bill including taxes for 10 year. Moreover, this loan forgiveness program works only for students with high debt and low income, so borrowers with high income and low debt won’t benefit a lot. One more thing to remember, if a borrower stops working in a public service job on full-time base he will not get forgiveness.
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