Student Loan Forgiveness Programs

There are several student loan forgiveness programs available today for people looking to clear their student loan debt. Many people attend college, with good intentions, only to have difficulty finding work upon graduation. Some others are lured in by under accredited colleges that promise a rewarding career after graduation, only to be let down. Fortunately, there is hope that you will be able to get rid of your student loan debt.

One program that is available for student loan forgiveness is called the Public Service Loan Forgiveness Program. In this program, borrowers will have their student loan balance forgiven after making 120 payments on their loans, while working in public service. Not only does this program benefit you, by relieving your student loan obligations, but it also allows you to serve your community.

While limited, another option to have your student loan debt forgiven is to file for Chapter 7 or Chapter 13 bankruptcy. When using this option, you will need to prove to the bankruptcy court that you will face a severe hardship by paying your student loan debt.

While there are a few options available, the only real way to know if you qualify for one of these programs is to contact a student loan forgiveness agency, or attorney. An experienced professional will be able to properly guide you to the proper way of being debt free.