April 1, 2020

Women Especially Need Student Loan Forgiveness

According to a study from the American Association of University Women (AAUW), U.S. women owe two-thirds of the nation’s student loan debt. As of February 2020, the total student loan debt was $1.6 trillion, this means women owe almost $1 trillion of the nation’s student loan debt!

Women ages 25 and older now account for more than half of the college-educated workforce. Women dominate many career fields, and not surprisingly, teaching is one of them. Over 77% of public school teachers are women and these women should definitely be taking advantage of student loan forgiveness programs, in particular, the Public Service Loan Forgiveness Program (PSLF). Under this program, student loans can be completely forgiven after 10 years.

To qualify, teachers must work full-time at a public school, have federally-backed student loans, be on an Income-Driven Repayment Plan, and make 120 on-time qualifying repayments

In the 2015-16 school year, teachers in public schools had on average about 14 years of experience and worked roughly 53 hours a week, with an estimated 92% of federal student loans, many teachers are already well on their way to qualifying for PSLF!

If you’re on an Income-Driven Repayment Plan you may already qualify! If you’re not, it is easy to enroll in the right plan for you. In your Chipper dashboard, you can compare plans side by side and enroll in a repayment plan that is in proportion to your monthly income, in other words… LOWER PAYMENTS… 78% of people who use our widget find a lower repayment plan and save $298 per month!) You can also use Chipper to view your current Income-Driven Repayment Plan or check to see if you’re on one.

Do you qualify?

As student loan experts, we will walk you through the entire process if you qualify. If don’t, we’ll help you get on track so you do. Teachers especially deserve student loan forgiveness. We have your back!

Use Chipper for Lower Payments

Chipper can help you find a student loan repayment plan that actually fits into your budget. You simply fill out your information and link your student loan account for us to generate your options in seconds. We help the average student loan borrower save over $300 a month off their student loan monthly payment. Lowering your monthly payment plan can game changing for your personal finance and can be done in minutes! Sign up for Chipper today to get on track with your student loans.

Use Chipper for The Best Path to Forgiveness

Finding your path to student loan forgiveness is easier than ever before. Chipper helps members find better Income-Driven Repayment (IDR) plans every day. Once enrolled in an eligible repayment plan, we can help you explore your forgiveness options and understand your path towards forgiveness. Sign up with Chipper today and get on track with your student loans.

Use Chipper for Round-Ups

Paying off your student loans doesn’t have to be a long and painful journey. Round-Ups are a way to directly pay off your loans with your everyday spending! By tracking your linked spending account(s), we will calculate the rounded up amount from each transaction in a week (IE spending $4.28 would add $0.72 to the weekly amount). We then initiate a payment towards your student loan for the weekly amount. Get chipping away on your student loans with Chipper today.

Use Chipper for Public Service Loan Forgiveness (PSLF)

The Public Service Loan Forgiveness (PSLF) program was created to provide relief to borrowers aiding the public sector. Unfortunately, 30% of applicants are denied due to incorrect paperwork. We can help! Chipper was created to solve this issue by assisting borrowers in understanding their options as well as allowing forgiveness eligible users enroll into the best forgiveness program available. Sign up for Chipper today to see your student loan forgiveness options and get the forgiveness you deserve.

Use Chipper for Teacher Loan Forgiveness (TLF)

The Teacher Loan Forgiveness (TLF) program was created to enable teachers working in Title 1 schools to receive student loan forgiveness of up to $17,500 (depending on their teaching subject). Chipper has helped teachers from all over the country qualify for TLF program and can help you get the forgiveness you deserve today. Find out if you qualify for forgiveness in minutes with our employer search tool.

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