Student Loan Forgiveness & The Best Way To Invest Money

by Fin Lit Financial

Loans are meant to be paid back. The loans taken by students have to be re-payed after the graduation or after six months of the borrower attending college. The loan programs have varying re-payment options that depend on whether the borrower is underemployed or unemployed. But there are special programs such as student loan forgiveness that allows the students to have a part or their entire loan forgiven if they fulfill certain criteria. There are various programs and circumstances that can lead a student to loan forgiveness. If you work as volunteer with three different organizations mentioned by the federal government, then you are eligible for certain amount of loan forgiveness. Volunteering for organization like America corps, Peace Corp, and VISTA provides you loan forgiveness. Students who join the Army National Guard can receive up to $10,000 for payment of educational loans. The amount depends upon the length of their military service. Becoming a teacher can also help a student to loan forgiveness.

The National Defense Education enables teachers to have 15% of their loans forgiven for each first 2 years of teaching, and for 3rd and 4th year a forgiveness of 20% of the loan. Students working under non profit and public interest law positions, and doctors and nurses working in areas of insufficient medical care are also eligible for loan forgiveness.

Every person only invests in order to get a return on his capital with in a given time frame. Investing people generally looks for investing options that can give them biggest possible compound-er each year with the least possibility of risks. The quality of an investment define its risk level, the lesser the risk level, the more will be its quality. So, the best way to invest money is the one that offers very low or nil risk. But in reality, there is no investment with “nil risk”. There is always a certain minimum risk factor involved in any investment. Even banks display some level of risk when you invest your money. But banks are the safest options to invest money as they are backed and guaranteed by the government. So a bank deposit is the best way to invest money.

Another safe way to invest money can be real estate. Unlike shares and stock market, the value of land and buildings always increase with the passing time. This is a very effective means of making some capital out of your money.