The document I'm referencing can be found here:
http://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness.pdf
The gist of it is that if you make 120 payments on your student loans while working at certain kinds of not-for-profit organizations (full time at one job, or a combined 30 hours/week with multiple part time jobs), you can be eligible to have your remaining student loan debts forgiven. They do not have to be consecutive payments, so gaps in employment would not exclude a person from this program.
My question is whether or not a not-for-profit theatre would qualify for this program.
I know many regional theatres are not-for-profit, but I have no clue what their tax status is. For it to count towards this program it has to be a not-for-profit, tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. Does anybody out there have any insight into these sorts of things?
I realize that ideally just about all of my debt would be gone by the time I make 120 payments, this is more of a 'what if' scenario. Also certain installment plans may still be running after 120 payments if I'm making as little as I'm told I will for the first 10 years.
http://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness.pdf
The gist of it is that if you make 120 payments on your student loans while working at certain kinds of not-for-profit organizations (full time at one job, or a combined 30 hours/week with multiple part time jobs), you can be eligible to have your remaining student loan debts forgiven. They do not have to be consecutive payments, so gaps in employment would not exclude a person from this program.
My question is whether or not a not-for-profit theatre would qualify for this program.
I know many regional theatres are not-for-profit, but I have no clue what their tax status is. For it to count towards this program it has to be a not-for-profit, tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. Does anybody out there have any insight into these sorts of things?
I realize that ideally just about all of my debt would be gone by the time I make 120 payments, this is more of a 'what if' scenario. Also certain installment plans may still be running after 120 payments if I'm making as little as I'm told I will for the first 10 years.