nonprofits

The Chronicle of Philanthropy recently posted information about the Department of Education’s request for feedback on proposed regulations regarding implementation of the College Cost Reduction and Access Act of 2007.

Come again?

Basically, this new law forgives the remaining debt of student loan recipients who have worked as full-time “public service employees” for a period of 10 consecutive years while making their payments. In other words, you graduate, land a solid gig at a nonprofit, government agency, or other still-to-be-defined “public service” employer, and you won’t have to pay any more monthly debt owed after 10 years working there or remaining in the sector. Read more »