Many high school graduates in the United States could not pursue college education because of the prohibitive cost of a college degree. The usual remedy is to work one’s way through college or obtain a student loan. The result is that a great number of college graduates find themselves faced with many years of paying off the student loans that financed their college education. These college graduates are stuck for years with their loan payments, preventing many of them from starting their own families or simply starting with their own lives.
To help this segment of the society that is saddled by student loans, many professional and charitable organizations put up loan assistance repayment programs that ease the burden of student loan payment. One of these organizations is the Janet L. Hoffman Loan Assistance Repayment Program.
The Janet L. Hoffman Loan Assistance Repayment Program was established by the Maryland Higher Education Commission to provide educational loan repayment assistance to individuals who are providing public service in the local, local government, or non-profit sector in Maryland to low-income or underserved residents.
Applicants to the loan assistance repayment program must be residents of Maryland who have received an undergraduate, graduate, or professional degree from a college or university in the State of Maryland. The applicant’s gross salary cannot exceed $60,000 annually, or if married, the combined salaries cannot exceed $130,000. The applicants must be employed full-time (35 hours or more per week) at a state/local government or nonprofit organization in Maryland. Applicants must have loans that were obtained for educational expenses that are not in default.
The loan assistance repayment program is a service-based program. A formula is followed to determine the amount that may be awarded to qualified applicants, based on the amount of loan and the applicant’s contribution.
Information about the program may be obtained from:
839 Bestgate Rd., #400 – Annapolis (21401-3013)
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