New Student Loan Exemption Rules Help Public Service Employees | SiouxlandProud | Sioux City, IA
Sioux City, Iowa (KCAU) – Siouxlanders who work in the public service could have their loans canceled thanks to new rules in place.
Officials still have to make 120 eligible payments before they can get their loans canceled, but new rules lower the requirements for a payment to be eligible.
Andrew Dutler is a crime prevention officer for the Sioux City Police Department. He said the simpler rules mean officials can focus more on helping Siouxland without worrying about their financial burden.
“Just knowing that I have to go out and serve my community and if I still have federal loan debt after 10 years, then these people can be pretty confident that it’s going to be taken care of,” Dutler said.
Shannon Dahl is a Talent Acquisition Partner at MercyOne Siouxland. She said the path to a career in health care can be expensive, but student loan cancellation offers light at the end of the tunnel.
“University expenses are important, so being able to financially support our colleagues is a benefit to us that we can support them as they continue to advance in their careers,” said Dahl.
Karen Wiese is Director of Student Financial Planning at Morningside University. She said one hurdle is that students don’t know about these future loan cancellation opportunities.
“We’re here to help them and so why don’t you ask for help when we just want to help you have a better financial opportunity in the future?” Said Wiese.
Some employers eligible for civil service loan cancellation include emergency management, public education, and military service, among others. For more information on payments and which employers qualify for the student loan waiver, Click here.