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Increasing Awareness and Understanding About Student Loan Forgiveness

It is still your obligation to pay for your student loan regardless if you have not finished your education, cannot find relevant job related to your program of study, or even if you’re unhappy with the course you paid with your loan. It is possible to have your student loans being forgiven, canceled, or discharged in certain circumstances. There are different types of student loan forgiveness, cancellation, or discharge including Perkins loan cancellation and discharge, total and permanent disability discharge, discharge due to death, discharge in bankruptcy, closed school discharge, public service loan forgiveness, teacher loan forgiveness, false certification of student eligibility or unauthorized payment discharge, unpaid refund discharge, and borrower defense discharge.

There are those may qualify for a direct loan or FFEL Program student loan discharge given the following circumstances: you were a victim of identity theft; the school falsely certified your eligibility in order to receive the student loan or the student eligibility requirements were not met but the school falsely certified that you are; the loan check was endorsed by the school without your authorization, the application or promissory note was signed by the school with your name without your authorization, or signed your electronic funds transfer authorization without your awareness and knowledge; and disqualification from employment in the job you were trained because of age, physical or mental condition, or criminal record. If ever your school did not pay a refund that is owed to the lender or to the U.S. Department of Education upon your withdrawal from school, you can be discharged of your Direct loan or FFEL Program loan, but remember that only the unpaid refund will be discharged.

If you serve in certain types of public service or you are employed in certain occupations, you may qualify for Federal Perkins Loan Program, which is intended to cancel or discharge student loans including the following: teacher, nurse, medical technician, law enforcement, corrections officer, head start worker, child or family services worker, a volunteer in Peace Corps or action program (VISTA), member of the U.S. armed forces,and professional provider of early intervention services.

If you think you are qualified for loan forgiveness, discharge, or cancellation, you can contact your loan servicer, and you can apply to the school that made the loan or contact the loan servicer that your school designated if you have a Federal Perkins Loan. You still need to make payments while the discharged application is ongoing to prevent it from accruing or going to default. Feel free to visit our website or homepage to know more about student forgiveness loans.

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