Thursday, November 5, 2009

Student Loan Forgiveness

A few weeks ago, something big happened for me and Josh, and I actually can't believe I didn't write about it the day it happened. But it is fitting to include it in my 30 Days of Thanks, so I'll just mention it now!

Right after Josh graduated from SBU, we knew that it would be a possibility for (a portion of) his student loans to be forgiven if he taught in a school district that met the guidelines set by DESE: teach in a teacher shortage area (content area like math, science, special education, etc) and in a school that serves low-income families. He did not set out to find a school district that fit this, but I was working in Rolla at the time, and we were so excited to learn that there would be a math opening in St. James. This would mean we could live close and neither one of us would be driving far to work.

After he had been teaching a few years, I asked him if he had looked up the loan forgiveness information so we would know exactly what to do when the time came. He did. He had to wait exactly until the last day (last hour, last second, you get the picture) of his fifth year of teaching. So he filled out all the paperwork and faxed it off on the day after his last day of school this past spring.

And then we waited.

We hoped for the best. Of course we hoped that the maximum amount would be forgiven, but anything would be nice. Sixty days went by...we heard nothing. Ninety days went by...and Josh finally called AES to see if they had any information. After a few rounds of phone tag (with someone who was basically impossible to get a hold of) he heard the words that we were so hoping to hear: "You were granted the maximum amount. $17,500 will be taken off of your balance."


I did a happy dance. I squealed with joy! What a HUGE financial blessing for us. After working so hard to pay down debt and knowing that our student loan was the last leg of our journey, we just knew that we could knock out the remaining balance - about $12,000 - by June. Then we will be debt free except for our mortgage. I can't wait to see what that feels like.

Thank you, Lord, for this amazing financial blessing. We know that You worked it out so that we would be right where we were supposed to be so this would happen. We pray that we continue to honor you with our finances.


Mrs. Haid said...


kimberly anderson said...

Start dialing Dave! Just when you scream debt free please warn the neighbors, you might scare them. Again Congrats!

F&F Mali said...

Congratulations! I think teachers deserve to have all their school loans forgiven. Even still, $17,500 is a big chunk of dough!

Mindy said...

That is GREAT! I hope I can get my loans "forgiven" that way too!

Causey Fam said...

I can't wait to read the post...."We're Debt FreeEEEEEEE!"

It will feel amazing!

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