Repaying student loans, and that too in time looks like an unachievable task for many people struggling on financial terms. It can also cause delays and hindrance in your life goals such as getting married or starting a new business.
An effective way to get rid of your debts is to search for grants. Let’s explore some of these grants to pay off student loans.
1. Iraq-Afghanistan Service Grant
If one of your parents was part of a life-taking incident while serving for the military in either Afghanistan or Iraq, you can receive more than 5000 US dollars to manage your debts of student loans.
To get this grant, you should have been less than 24 years at your parent’s death time. Alternatively, if you were enrolled in college at that time, you would still be eligible for this grant.
2. Contraception and Infertility Research Loan Repayment Program
The U.S. Department of Health and Human Services encourages individuals who are involved in reproductive research by offering them a student loan repayment incentive.
A person can get up to 35,000 US dollars per year under the Contraception and Infertility Research Repayment Program to help in repaying student loans. However, the recipients have to spend two years in researching infertility and contraception issues so that they can qualify for this grant.
3. Nurse Corps Repayment Program
With the help of the Nurse Corps Repayment Program, you can avail up to 85 % of the amount of your outstanding loans. Health Resources and Services Administration is responsible for offering this program to help students.
The eligibility of this grant is dependent on the recipient being a nursing faculty member with a nursing degree, a nurse practitioner, or a registered nurse.
4. Pennsylvania Primary Healthcare Loan Repayment Program
Being a dentist or a physician, if you are ready to work in Pennsylvania’s under-served areas, you can receive between 30,000 and 100,000 US dollars for your student loan purpose. The grant is dependent on you making a commitment to serve for 2 years.
5. North Dakota Science, Technology, Engineering, and Mathematics (STEM) Student Loan Grant
Residents of North Dakota who works in a STEM related career can avail the North Dakota Science, Technology, Engineering, and Mathematics (STEM) Student Loan Grant.
6. Teacher Education Assistance Grant
If you are planning to get into the teaching profession, you can get the Teacher Education Assistance Grant for College and Higher Education.
However, you would be required to teach in a high school with a low income for 4 consecutive years. Apart from that, you should have the required academic credentials to work in that particular school.
The bright side is that the reward is actually worth your effort. To help you in successfully making your monthly payments, you will receive up to 4000 US dollars in each academic year.
With the help of these grants, you can repay the debts of your student loans.