Graduates from the University of Michigan have a handful of options to manage debt incurred for their student loans.
Ross School Graduates in Public/Nonprofit Roles
The Ross School’s Loan Repayment Assistance Program supports graduates by actively encouraging them to help fill the need for skilled managers in nonprofit and public sector organizations. An annual application is required each Fall and the pool of assistance offered is split among all qualified candidates.
All U-M Graduates in Public Service
The Public Service Loan Forgiveness Program was created by Congress in 2007 to encourage individuals to enter and continue to work full-time in public service jobs.
Under this program, borrowers may qualify for forgiveness of the remaining balance due on their eligible federal direct loans after they have made 120 payments on those loans under certain repayment plans while employed full-time by certain public service employers.
Rackham Doctoral Students
Entering Public Interest Careers
The Rackham Debt Management Program seeks to encourage Rackham doctoral students to pursue public interest careers upon completing their graduate degrees, and provides awards of up to $10,000. Eligible students must be enrolled full-time and have reached candidacy in the following Rackham doctoral programs: Social Work and Social Science, all doctoral programs in Public Policy and Public Health, Nursing, Anthropology, Economics, Political Science, Psychology, and Sociology.
Students must have spent at least two years in community service prior to beginning graduate school; must intend to return to public service careers in the United States upon graduation; and must carry student-related debt accrued during the undergraduate and/or graduate years. Participating graduate programs may nominate no more than three students.