Federal Student Loan Legislation Makes Public Service Possible
Last fall, President Bush signed federal legislation dramatically altering the federal student loan program to make it much easer for students with an interest in public service to pursue their career goals. The College Cost Reduction Act (CCRA) altered the kinds of loan repayment options available to graduates with federal loans and provided for a loan forgiveness option for graduates who engage in public service for a ten year period.
Because the legislation is complex, how it will affect your specific circumstance should be the topic of discussion with your financial aid office representative, particularly if you are a graduating student this spring. Equal Justice Works has created a helpful, one-stop resource page on its website:
The EJW page provides helpful analysis, the full text of the legislation and links to useful resources. Graduates and recent alumni will want to spend some time exploring how the CCRA can enable them to engage in a public service career.