Loan Forgiveness Programs

Certain circumstances might lead to your loans to be forgiven, such as:


  • Teach Loan Forgiveness - For teachers who are also new borrowers who been teaching full-time in a low-income elementary or secondary school or educational service agency for five consecutive years.
  • Public Service Loan Forgiveness - If you are employed in certain public service jobs and have made 120 qualifying payments on your Direct Loans (after Oct. 1, 2007), the remaining balance that you owe may be forgiven. FFEL program (i.e. Stafford) or Perkins Loan Program loans can be consolidated into a Direct Consolidation Loan to take advantage of this program.  Under certain circumstances, an FFEL Consolidated loan can be consolidated into a Direct Consolidation Loan if combined with at least one qualifying loan (i.e. Perkins).   
  • Perkins Loan Cancellation -  This program applies to individuals who perform certain types of public service or are employed in certain occupations.


To learn more about loan forgivness or about loan discharge for various reasons, see the Federal Student Aid website >



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