Loan Forgiveness

Loan Forgiveness programs are used to attract students to serve in certain jobs, or areas of the United States, that are experiencing a talent shortfall.  A loan forgiveness program will repay all, or a percentage, of a student's educational debt.  The loan forgiveness occurs after the student has graduated from school and has started working.  This is in contrast to service payback programs, which pay for a student's expenses while they are still attending school.

The loan forgiveness programs that are available today include:

• Loan Forgiveness for Teachers - available to former students that agree to teach in certain low income neighborhoods.
• Loan Forgiveness for Childcare Providers - available to those former students that agree to work in child care facilities that demonstrate need.
• Perkins Student Loans - there are a number of programs that qualify for forgiveness, ranging from nursing to Peace Corps volunteers.

For more detailed information on these programs, see our publication on student loan forgiveness.