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  • Writer's pictureJim Carlson

Student Loan Options for Firefighter Families in 2024: What You Need to Know

As a firefighter, you dedicate your life to protecting our communities. When it comes to funding your children's education, you deserve to have all the information at your fingertips. Let's break down the student loan landscape for 2024, with a special focus on options particularly relevant to firefighter families.

A Firefighter with a recent graduate and another young child.

The Current State of Student Loans

Parent PLUS Loans: Higher Rates in 2024

Parent PLUS Loan rates have increased again this season. They now stand at 9.08% for all borrowers, with an additional 4% origination fee. While these rates are high, these loans come with certain benefits that may be particularly valuable for public servants like firefighters.

Private Loans: A Competitive Alternative

Private loans are emerging as an interesting alternative for many families. Borrowers with good credit can secure rates starting just under 5% with no fees. It's worth exploring these options to see if they align with your financial situation.

Navigating Your Options: A Step-by-Step Guide

  1. Apply through College Ave to get your rate.

  2. Apply through Sallie Mae for their quickest online application.

  3. Check rates with Earnest, who offer a Rate Match Guarantee.

  4. Compare private rates to Federal PLUS and State Programs:

  • Federal PLUS Loan Information

  • Your State Loan Program

The Public Service Loan Forgiveness (PSLF) Opportunity

As a firefighter, you're in a unique position to benefit from the Public Service Loan Forgiveness (PSLF) program, even on Parent PLUS loans.

Here's what you need to know:

  1. Consolidation is Key: Parent PLUS loans must be consolidated into a Direct Consolidation Loan to be PSLF-eligible.

  2. Income-Driven Repayment (IDR) Options:

  • Income-Contingent Repayment (ICR) is directly available for Parent PLUS loans.

  • Other IDR plans may be accessible if you consolidate Parent PLUS loans with your own student loans.

  1. PSLF Benefits: After 120 qualifying payments while working full-time for a qualifying employer (typically including fire departments), the remaining balance may be forgiven.

  2. Important Considerations:

  • Payments are based on your income, not your child's.

  • Your time as a firefighter can count towards the 120 payments.

  • Annual recertification of income and family size is required.

This option can significantly reduce long-term costs for firefighters planning to remain in public service.

Additional Resources for Firefighter Families

  • Check with your local firefighters' union for special loan programs or scholarships.

  • Explore state-specific programs offering benefits to first responders or their families.

Consider the Family Impact

When signing up for any student debt, it is crucial to be fully informed about the expected burden these loans can place on both the student and the family. Be mindful of your commitments to other siblings of the student and to your spouse. The financial obligations of student loans can have wide-reaching effects on your household's financial health. Make sure to carefully assess your ability to manage these loans in conjunction with your other financial goals and responsibilities.

Final Thoughts

Choosing the right student loan option is a crucial decision that can have long-lasting financial implications. As a firefighter, you have unique opportunities and considerations. Take the time to explore all your options, and don't hesitate to seek professional financial advice tailored to your specific situation.

Remember, the best choice for your family depends on your individual circumstances, including your credit score, income, and long-term career plans in the fire service.



  1. The information provided in this blog post is for general informational purposes only and should not be considered as financial advice. Always consult with a qualified financial advisor before making any financial decisions.

  2. Loan rates and terms mentioned in this post are subject to change and may vary based on individual circumstances, credit scores, and lender policies.

  3. The Public Service Loan Forgiveness (PSLF) program is subject to specific eligibility requirements and may change based on government policies. It's important to verify current program details with the U.S. Department of Education.

  4. This blog post contains links to third-party websites. These links are provided for convenience only and do not constitute an endorsement of the linked websites or the products and services they offer.

  5. The author and publisher of this blog post do not receive any compensation for mentioning or linking to the loan providers discussed.

  6. Your experience with the loan providers or programs mentioned may differ from what is described in this post.

  7. Before applying for any loan or entering into any financial agreement, carefully review all terms and conditions provided by the lender.


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