There are plenty of misconceptions floating around about student loans, but a recent survey shows that nearly half of all students that take out loans believe they won’t have to pay much towards them. This particular misconception is dangerous and can lead to students biting off way more than they can chew, leaving them as graduates with a whole lot of debt to deal with.
Student loan forgiveness is never guaranteed, and furthermore, is only open to specific professions and also takes a lot of time to process. Students that enter into careers that are considered public service and then remain there for a certain amount of time are the ones most likely to have their debt forgiven. And even those that do qualify need to make 120 consecutive payments on their loans before being eligible for forgiveness.
Image via https://blog.ed.gov/.