As a JV, you may qualify for student loan deferment, forbearance, or income-driven repayment plans. Check with your lending institution to determine if you qualify and what steps need to be taken to make this possible. Non-AmeriCorps positions usually have a different process for forbearance than AmeriCorps positions. It will be important to explain to your lending institution that you are going to be involved in full-time service and receive a minimal living stipend. If needed, JVC Northwest can send a verification letter to the lender after the start of the service year. For JV AmeriCorps members, there is also an opportunity to receive an AmeriCorps Education award to help pay student loans. For more information on ways to reduce and postpone student loan payments, AmeriCorps forbearance and the Segal Education Award, see the AmeriCorps FAQ.
Posted in: 4. Financial Considerations