Not exact matches
If a
teacher with a master's degree goes
on to earn the median
teacher's
salary in the U.S., even after making 10 years of income - based payments, she won't have paid back more than the first $ 17,000 in federal student
loans she borrowed as an undergraduate before the remainder of her debt is erased.
And then of course there is the challenge of staying afloat financially
on a
teacher's
salary, particularly in an era of rising housing costs and student
loans.
We estimate that
teachers could reasonably save 10 percent of their
salaries per year towards a down payment — though we acknowledge that the definition of a reasonable amount to save for a home is certainly dependent
on student
loans, a
teacher's family obligations, and the local cost of living.
In addition to
Loan Forgiveness programs, aspiring
teachers can check out TeacherInformation.org for more information
on teaching
salaries, career paths, and Master's degrees in Education.
My wife says she is
on the 10 year
teacher loan forgiveness plan and we want to make sure the 10 year / 120 payment doesn't reset with increase of
salary etc..
At a 5.25 % interest rate my
loan will not go away
on my meager North Country New York
teacher salary (of $ 50K in my 9th year).