In addition to all these program-specific options, federal entities, and national organizations, your state or school might offer service-based programs that cancel, reduce, or repay part of your student loans.
Contact your state agency for postsecondary education to see what programs are available in your region. For the address and telephone number of your state agency, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). You can also find this information at www.studentaid.ed.gov. At the site, click on the "Funding" tab, then go to "State Aid." Also check out loan forgiveness programs that may be available to you through trade groups, religious, civil, or professional organizations with which you are affiliated.
Lastly, for more info about loan forgiveness options, pick up a copy of The Student Loan Forgiveness Directory by the Fannie Mae Foundation and National College Scholarship Foundation. The book contains a list of some 200 institutional loan forgiveness programs. It's organized by state and has annotated and detailed listings about each program. To order a copy, write to the National College Scholarship Foundation, PO Box 8207, Gaithersburg, MD 20898-8207. The book is also offered through the Scholarship Resource Network, Inc., 44 Regatta View Drive, Saratoga Springs, NY 12866.
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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.
While you are attending school and after you graduate, be sure to establish and protect your good credit rating. Make all loan and other payments on time; use cash instead of credit cards; and monitor your spending habits.