Student Loan Forgiveness Program

thumb

Through the Student Loan Forgiveness Program, BBEDC offers financial assistance to residents with students loans as an incentive to bring college/technical school graduates back to Bristol Bay. Applicants must have been a resident of a Bristol Bay CDQ community prior to earning their degree/license/certificate, earned their degree/license/certificate, and then worked in a Bristol Bay CDQ community for 12 months before applying. The program forgives up to a total of $20,000 of a student loan with payments disbursed to the lending agency over a 5 year period. In the first year 10% of the loan principle is forgiven, 20% the second year, 30% the third year, 50% the fourth year, and 100% the fifth year. Participants must keep their loan payments current to remain eligible for the program.

Student Loan Forgiveness Application

For more information contact Pearl Strub or Charlene Lopez at 842-4370 or 1-800-478-4370.