What are Student Loan Forgiveness Programs?

Student loan forgiveness programs are privileges offered by the government to eligible students. Through these programs, a student can apply for a student loan discharge or cancellation of their federal student loans.

Qualifications for Loan Cancellation

Student loan debt can be canceled in special circumstances like:

  • Borrower works in volunteer organizations like AmeriCorps, Peace Corps, Volunteers in Service to America, etc.

  • Borrower is actively serving in the military.

  • Borrower is a full-time teacher in a low-income public or non-profit elementary or secondary schools.

  • Borrower works as a medical provider in areas declared by the government as areas with health professional shortage.

  • Borrower is a full-time child care provider in child care facilities catering to low-income families

Types of Loan Forgiveness Programs

The following are type of student loan forgiveness programs that a student can apply based on his or her circumstance:

  • pre-existing or expanded loan forgiveness for teachers

  • loan forgiveness for child care providers

  • loan forgiveness for federal employees (military or civilian employees)

  • loan forgiveness for medical or health researchers and professionals

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