Sioux City, Iowa (KCAU) — Siouxlanders who work in public service might see their loans forgiven thanks to some new rules in place.
Public servants must still make 120 qualifying payments before they can have their loans forgiven, but new rules lower the requirements for a payment to qualify.
Andrew Dutler is a crime prevention officer for the Sioux City Police Department. He said the simpler rules mean public servants can focus more on helping Siouxland without worrying about their financial burdens.
“Just knowing I need to go out and serve my community and if I have some federal loan debt that’s left at the end of 10 years, then those people can be pretty confident that it’s going to be taken care of,” said Dutler.
Shannon Dahl is a talent acquisition partner at MercyOne Siouxland. She said the path to a healthcare career can be expensive but student loan forgiveness offers a light at the end of the tunnel.
“College expenses are large so to be able to financially support our colleagues in that is a benefit to us that we can support them as they continue to grow in their careers,” said Dahl.
Karen Wiese is the director of student financial planning at Morningside University. She said one obstacle is students don’t know about these future loan forgiveness opportunities.
“We’re here to help them and so why wouldn’t you ask for assistance when we just want to help you have a better financial opportunity in the future?” said Wiese.
Some qualifying employers for public service loan forgiveness include emergency management, public education and military service among others. For more information about what payments and employers qualify for student loan forgiveness, click here.