Whether you’re struggling with six-figure debt or looking for “free money” to pay off your student debt, student loan forgiveness could save the day.
Click on the links below to learn more about each option, or scroll down for the complete list of student loan forgiveness programs: Public Service Loan Forgiveness Forgiveness from an income-driven plan Federal Perkins Loan cancellation Loan forgiveness for teachers Loan forgiveness for nurses Loan repayment assistance for doctors and other health care professionals Loan repayment assistance for lawyers Additional student loan repayment assistance programs (LRAPs) Military student loan forgiveness and assistance Student loan discharge for special circumstances The Public Service Loan Forgiveness program helps people working in public service jobs.
Professionals across a variety of fields can qualify for PSLF.
For this program, it doesn’t matter what your job is as much as where you work.
Have you ever wished your student loans would just go away?
While there’s no way to snap your fingers and have your student loan debt magically disappear, there are ways to get it forgiven.
This step is helpful if you have Perkins or FFEL Loans.
Pay As You Earn is similar to Income-Based Repayment in that it isn’t a typical forgiveness plan, but you are eligible for forgiveness after a certain period of time.
This is an easy requirement to meet if you have a large debt load compared to your income.
You can use the Repayment Estimator tool to help you calculate your payments and see if you qualify.
Again, your consolidated rate is a reflection of the interest rates attached to your current loans.
It is not strictly a market gage, as is the case with a home refinance.