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February 2005 Loan Forgiveness Program at WorkYou don’t need an MBA to know that public-sector salaries are unlikely to make a dent in paying off hefty student loans. For many years, public management students have had to choose between accepting relative poverty or forsaking, at least for a time, the field they had prepared for. But since 1988, the GSB Loan Forgiveness Program has helped 64 individuals reduce a portion of their Business School debt as they pursue the careers they love. “I was pretty worried when I sat in the financial aid presentation and they showed how much money I would need to earn to be able to pay off my loans. I’ll never make that much money in my field!” says Kathy Sarlson, MBA ’95, an endowment officer for the Jewish Federation of Philadelphia. Sarlson has been in the loan forgiveness program for nine years and will finally pay off her GSB debt in 2005. “The loan forgiveness program has truly enabled me to remain in the nonprofit sector all these years,” she says. Sarlson is one of 23 current recipients who receive average annual awards of about $4,000. Business School graduates may apply for the program at any point in their career, as long as they are currently in the public or nonprofit sector and still paying off their GSB loans. To learn more about the program and its requirements, visit www.gsb.stanford.edu/finaid/forgiveness/index.html. |
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