A-to-Z Index

Loan Forgiveness

Teacher Loan Forgiveness

If you're a teacher serving in a low-income or subject-matter shortage area, it may be possible for you to cancel or defer your student loans. See below for more information:

http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/teacher

Public Service Loan Forgiveness

There is a new loan forgiveness program for public service employees. Under this program, the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loan after October 1, 2007. The borrower must be employed full-time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted. See below for more information:

https://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness.pdf