Federal US Education Loans forgiven for public service and 501 (c)(3) employees?

[Jeremy D. Scott]

Had a good friend send me this link:
http://www.finaid.org/loans/publicservice.phtml

Anyone know anything about it?

Does it mean anything for ministers?

- J

[Cindi Hammons]

Public service jobs include, among other positions, government, military service, public safety and law enforcement (police and fire), public health, public education, public early childhood education, public child care, social work in a public child or family service agency, public services for individuals with disabilities or the elderly, public interest legal services (including prosecutors, public defenders and legal advocacy in low-income communities), public librarians, school librarians and other school-based services, and employees of tax exempt 501(c)(3) organizations. Full-time faculty at tribal colleges and universities, as well as faculty teaching in high-need areas, also qualify.

Does your church have a 501(c)(3) mission? If not, want to start one? :)

[Jeremy D. Scott]

Does your church have a 501(c)(3) mission? If not, want to start one? :)

Well...yes...Friends of the Homeless of the South Shore is the largest NCMC on our district, and it grew out of North Street (with some thanks to your pastors - did you know that they pastored the church I pastor? :)), but I'm not an employee (though I am the chaplain).

It's my understanding that the General Church of the Nazarene is 501 (c)(3)...is that right? So does that mean that only HQ employees are eligible?

[Cindi Hammons]

did you know that they pastored the church I pastor? :)), but I'm not an employee (though I am the chaplain).


Yes, I knew that. They certainly have a heart for those in need.

[Jeremy D. Scott]

Just got an e-mail from my tax guy (a Nazarene PK). He said that this may not even be a smart move for many (depending on interest rate and monthly payment). He also said he would be surprised if ministers would be eligible.

[DA Weaver]

Dumb ?... do I understand that Nurses and Doctors should qualify as well because they work in the public health?

Employment: The borrower must be employed full-time in a public service job for each of the 120 monthly payments. Public service jobs include, among other positions, government, military service, public safety and law enforcement (police and fire), public health, public education, public early childhood education, public child care, social work in a public child or family service agency, public services for individuals with disabilities or the elderly, public interest legal services (including prosecutors, public defenders and legal advocacy in low-income communities), public librarians, school librarians and other school-based services, and employees of tax exempt 501(c)(3) organizations. Full-time faculty at tribal colleges and universities, as well as faculty teaching in high-need areas, also qualify.

[Ryan Scott]

Doesn't it say that you have to make 120 payments after October 2007? That means no one will be eligible until 2017 right? By then the whole thing may be different or changed some how.