Topic: College Loan - State won't forgive school loans - Louisville Courier-Journal

January 25th, 2008, 4:07 pm College Loan

And it remains unclear what benefits will be available to students who took out loans before that deadline, according to officials at the Kentucky Higher Education Assistance Authority/Kentucky Higher Education Student Loan Corp. That state agency acts as the guarantor for student loans provided by the Kentucky Higher Education Student Loan Corp. And that could be bad news for students like Amanda New, who is working on her teaching degree at Midway College and had banked on the Best of Class program to help her pay off student loans she took out to earn her bachelor’s degree. Started in 2003, the Best of Class program allows a student with a loan through The Student Loan People and who is working full time as a teacher, librarian or counselor in a Kentucky school to apply for interest forgiveness on the loan for each year of service. Another program — Best in Care — allows nurses to get interest forgiveness and to apply for up to 20 percent principal forgiveness each year if they are working in a hospital, public health facility, long-term health facility or in nursing education. A newer program started in 2005, called Best in Law, provided interest and principal forgiveness for public defenders, assistant commonwealth’s attorneys, assistant county attorneys, legal service attorneys or public law clerks. Explore More