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Federal Loan Forgiveness Programs

Federal Teacher Loan Forgiveness Program

If you're a teacher serving in a low-income or subject-matter shortage area, it might be possible for you to cancel or defer your student loans.

For more information regarding federal loan forgiveness programs for teachers please click this link:

Cancellation/Deferment Options for Teachers

Federal Nurse/Health Occupation Loan Forgiveness Program

There are a variety of loan repayment and scholarship programs available for nurses and nurse educators from the Health Resources and Services Administration. The options and application process for these programs can be found at http://www.hrsa.gov/help/healthprofessions.htm.

Public Service Employee Loan Forgiveness Program

The Public Service Employee Loan Forgiveness Program provides for the cancellation of the remaining balance due on ELIGIBLE federal student loans after the borrower has made 120 monthly payments on those loans under certain repayment plans while employed in certain public service fields.

NOTE: Borrowers must have made 120 monthly payments after October 1, 2007 in the William D. Ford Federal Direct Loan (Direct Loan) Program. Therefore, the first cancellations of loan balances will not be granted until October 2017 at the earliest.

Eligible Loans
Any non-defaulted loan made under the Direct Loan Program. The Direct Loan Program includes the following types of loans:

  • Federal Direct Stafford/Ford Loans (Direct Subsidized Loans).
  • Federal Direct Unsubsidized Stafford/Ford Loans (Direct Unsubsidized Loans).
  • Federal Direct PLUS Loans (Direct PLUS Loans) – for parents and graduate/professional students.
  • Federal Direct Consolidation Loans (Direct Consolidation Loans).

For more information please read this information sheet provided by the United States Department of Education.

Public Service Employee Loan Forgiveness Program FAQ
Provided by the National Association of Student Financial Aid Administrators (NASFAA)

 

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