Loan Forgiveness and Librarianship

The LIBRARIAN Act of 2007 (H.R. 1877 and S. 1121)
On April 7, 2007, Representative Xavier Becerra (D-CA), along with Reps. Vernon Ehlers (R-MI), Raul Grijalva (R-AZ) and John Shimkus (R-IL), and Senators Jack Reed (D-RI) and Thad Cochran (R-MS) introduced the Librarian Incentive to Boost Recruitment and Retention in Areas of Need (LIBRARIAN) Act of 2007 (H.R 1877 and S.1121). The LIBRARIAN Act amends the Higher Education Act of 1965, providing Perkins student loan forgiveness in order to encourage individuals to become and remain librarians in low-income schools and public libraries.

To qualify for Title I assistance, schools must have a high percentage of students from low-income families. Typically, approximately 40 percent or more of students in a school come from families that fall within the U.S. Census Bureau’s definition of low-income.

Librarians working full-time in low-income areas would qualify for up to 100 percent Perkins loan forgiveness depending on the number of years of service. Specifically, librarians would qualify for the following:

* 15 percent loan forgiveness for each of the first and second years of such service;
* 20 percent loan forgiveness for each of the third and fourth years of such service; and
* 30 percent loan forgiveness for the fifth year of such service.

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Whoohoo! Didn't mother always say that reading was fundamental? I've been lamenting for months because GSU is not and ALA-accredited program. In and of itself this isn't a horrible thing, but it does disqualify me for scholarships, and I could be raking in the dough, seeing as how I'm Black and I have a 4.0 GPA.

Well, there is a light at the end of the tunnel because I can get some of my loans forgiven. It seems that librarians are in need all over the Nation and the government is being oh so generous in order to encourage more people to go into the profession.

And, I will be reaping those benefits very soon. With $40,000+ in student loans I need all the help I can get.