<p>Someone told me that there is a loan that lets you pay back half the amount of the loan taken out after completion of college </p>
<p>Ex:If I want to take out a 50,000 loan, after I complete college, I only have to pay back 25,000 of it (the rest turns into a grant).</p>
<p>Is there such a loan?</p>
<p>I haven't heard of such a loan</p>
<p>There are some loans like that. They are usually paid by state governments or local hospitals for students who agree to study a critical shortage area and work 2-4 years in the state in that field after graduation. (Medical, nursing, and education usually)</p>
<p>Some of these programs will turn the whole loan into a grant after completion of the work agreement, some will turn part of the loan into a grant. Most will charge additional penalties if the agreement is not upheld.</p>