Obama administration’s “Public Service Loan Forgiveness Program” has become as a silver lining in the dark clouds for those burdened with student loans.

Obama administration has come up with a couple of new programs that could make student debts much lighter. One program is designed to encourage young people to serve the public by working for federal, state or local governments, nonprofits or other public service employers.

Under the Public Service Loan Forgiveness Program, any one could get rid of one’s student loan after ten years of public service.

For instance, a medical student who has received a student loan may opt for working in a clinic serving a low-income community on tribal lands after passing out the medical college and makes 120 payments, then, after 10 years of public service his remained debt will be erased out.

But those 120 payments could avert him from buying a house or starting a family.

Students with severe financial need can go in for subsidized loans, for which the interest is paid by the government.