What to Know About Student Loans
Loan Forgiveness Programs
Your student loan is your responsibility and must be repaid. However, there are programs that allow for some of the balance to be forgiven or canceled.
- Public Service Loan Forgiveness Program
This program is available to students with Federal Direct (FDLP) loans, who enter certain public service professions. If you qualify, a portion of your loan can be forgiven after 120 monthly payments under an eligible repayment plan.
- Teacher Loan Forgiveness Program
If you become a teacher, you may qualify for this program. Specific amounts can be reduced for FDLP or FFELP loans, and up to 100% of Perkins loans.
- Other Options
Occasionally there are situations where students can have their federal student loans forgiven or discharged. You’ll want to speak with you loan holder to see if you qualify. Find out more about these options.