How do you get student loan forgiveness

Nowadays, students are facing many difficulties in the United States paying their loans. Many are trying to avail themselves of the opportunity of student loan forgiveness because they are unable to pay their bills. There are various reasons for this which include unemployment, bankruptcy, disability, or sudden accidents.

The federal government of the United States is taking necessary steps to minimize student loans. Although President Biden has canceled $1.5 billion of loans, this is only 1% of the total student debt all over the U.S. Some Democrats have demanded forgiveness of up to $50,000 of student loans. However, President Biden only agreed to $10,000.

Here, we will tell you some types of loan forgiveness programs and how you get to enroll in them.

Student loan forgiveness programs

During the coronavirus pandemic, students are going through a critical financial situation. Every student wants to delay or cancel their loan payments. There are certain ways to get enroll in student loan forgiveness programs. 

If a student is unable to repay loan installment, he/she can apply for a cancelation or discharge program. However, the process of selection is not simple, and you must prove your eligibility. Some applications are accepted in no time, and some got rejected. If someone is doing fraud just to get rid of loans, his/her selection is impossible. All the prerequisites are thoroughly checked by authorities before acceptance.

We will discuss some of the situations in which a candidate is eligible to apply for a student loan forgiveness program.

One way to get exemption from loan payments is to teach for five years. To avail of this program, a student must serve as a teacher after completing the degree. Around $17,500 can be discharged under this student loan forgiveness program if he/she will complete five years of service duration. Serving as an elementary or secondary school teacher makes you eligible. However, there are eligibility criteria set to serve as a teacher which is

  • A bachelor’s degree is a must.
  • Temporary certificates are not acceptable.
  • A certificate of professional teacher issued by the state.

Fulfilling all the above-mentioned requirements will make you eligible for teaching. After the completion of 5 years, you will be free from repaying loan payments.

You can also take the Public Service Loan Forgiveness Program along with the Teacher Loan Discharge program.

  • Student debts forgiveness because of death

There is also an option of loan forgiveness if the borrower dies. Many students take loans in their guardian’s names. So, if the guardian dies then they can apply for loan discharge. Also, if the student is no more, then the family is not obliged to pay the installments of debt. To prove the eligibility, one must provide an original and authentic death certificate to the loan service provider with an application form.

  • Debts discharge because of bankruptcy

You can avail of forgiveness on your student loans by declaring bankruptcy. Suppose paying your loans leads you to bankruptcy then you will be eligible for this loan discharge program. The student has to file a case in bankruptcy court and prove that it is impossible to pay the remaining debts. Also, he/she must prove that paying debts is a burden for the family and basic lifestyle could not be maintained.

After filing the case, the court will give the decision considering the following factors

  • Crisis conditions will sustain for a considerable time period
  • The student has made efforts in past to pay the debts.
  • Repayment will affect the basic lifestyle of the family.

If an applicant meets all the requirements and the case is legit, the court will give the decision in the favor of the case filer. Whereas application for student loan forgiveness due to bankruptcy will be rejected.


Also Read:

Public service loan forgiveness (PSLF) program for students

Public service loan forgiveness is one of the best amnesty programs for students. If you are working in a federal government, state government, or non-profit organization, you are eligible for the PSLF program. The employee has to pay 120 months of repayments to get rid of the remaining debt balance. On the other hand, it fails to do so then he/she will be ineligible for this program.

Some requirements to get enroll in PSLF are:

  • The applicant must be a full-time employee of the federal, state government or working in a non-profit organization.
  • Applicants should have direct loans.
  • Must pay loans in an income-driven repayment plan
  • Should pay 120 qualifying payments.

Moreover, the students serving in the military, air force, or navy can get up to $65,000 of loan forgiveness under the PSLF program. It depends on which department or sub-department you are serving in these organizations. Above mentioned criteria also applied to them for qualifying.

Mohammed Imran

Mohammed Imran

Leave a Reply

Student Loan Forgiveness Application

About us

SLFA is a private company and does not claim to be affiliated with any Federal, State, or Local Government agencies. People with student loan debt have the legal right to use an attorney or process federal student loan documentation on their own behalf without paid assistance. Our mission is to provide people with the credit repair, knowledge, information, and document preparation service they need to deal with all the financial decisions to find what they need and return to life effortlessly.

Recent Posts

Scroll to Top

Stay updated about Loan programs