• • •
Your loans must be federal loans; Your employer must be a government organization; You must make 120 qualifying on time payments in an income driven or standard repayment plan.
Recently, many individuals in the program found that after 10 years their forgiveness was denied. The requirements are strict. Do your homework. If you decide to enroll, carefully review all the necessary criteria and complete all the steps so you can reap the benefits.5 To further assist eligible borrowers, the Department of Education has published a blog explaining common mistakes. Review this to help make sure you do everything correctly.6 Other Loan Forgiveness Options for Lawyers: Student Loan Hero provides a list of loan forgiveness resources for lawyers in addition to the one listed above. Take a look at this site to see if you qualify for any of the other forgiveness programs; a few minutes could save you a lot of money.7
Have a social life…without breaking the bank! Between trying to kickstart a new career, stick to a budget and pay down your student loan debt, you might feel like there is no time or money left for fun. Yet, there are many inexpensive and free things to do in and around Columbus. Here are just a few ideas to get you started: • The Columbus Museum of Art is free every Sunday, but it isn’t the only museum you can visit for free. You can tour comic books at Ohio State University or cars in German Village.8 • The Columbus Metroparks are always free options. Get some exercise, birdwatch, ice skate, encounter wildlife or even visit bison right here in central Ohio.9 • The Columbus Metropolitan Library is one of the best in the country. Many of the branches have free programs to enjoy. In addition to print books, you can borrow many audio and e-books at no charge – with a library card, of course.10 • The Columbus Bar Association has a free (for members) happy hour on the third Wednesday of each month called Committees and Cocktails. It is a great opportunity to network while having some fun with your colleagues who share your experiences. • Looking for an inexpensive way to eat out? Take
advantage of happy hour at one of the many local restaurants in Columbus. Meet some friends and, rather than have a whole meal, order a few halfpriced appetizers to share. Enjoy the ambiance for a fraction of the cost of dinner out. Check out one of the local weeklies like Columbus Alive for suggestions. The reality of student loan debt repayment is overwhelming at first. The above strategies should just be a starting point when you are looking for ways to boost your income and reduce your expenses. By making a few changes to your daily routine you can have even more of that hard-earned money to put toward reducing your debt. In addition, loan-repayment assistance - like financial aid - is out there, but you need to seek it out. The time you spend to find a program for which you qualify will be time well spent. In the meantime, be sure to make time for rest and relaxation. You have accomplished a lot just to get to this point in your life. Remember that balance is often the key to happiness. Find something you enjoy and people with whom you can share your enjoyment. There are so many free and inexpensive things to do in and around Columbus. Take advantage of them, because they will help you reach your financial goals, and since “the best things in life are free”, you will have more money to pay down those student loans. Bird: https://chargers.bird.co/join | Lime: https://web.limebike.com/juicer https://www.receipthog.com/ 3 https://www.acorns.com/ 4 https://www.cota.com/wp-content/uploads/2018/04/c-pass-building-list-4-col.pdf 5 https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service 6 https://blog.ed.gov/2018/06/8-common-public-service-loan-forgiveness-mistakes 7 https://studentloanhero.com/featured/the-complete-list-of-student-loanforgiveness-programs/#lawyers 8 https://www.columbusonthecheap.com/discount-and-free-museum-days-in-columbus 9 http://www.metroparks.net/programs-and-activities 10 https://www.columbuslibrary.org 1 2
48 | Columbus Bar L aw yers Quarterly Winter 2019
Shalyn Smith, Esq. Laura Soltis, Esq.
lauras97@aol.com