Teacher Loan Forgiveness
The teacher loan forgiveness program provide either $5,000 or $17,500 in principal reduction, or loan forgiveness, for qualifying teacher for a minimum of five years, and you must meet other requirements required by law. Teachers also can qualify for complete loan forgiveness through the public service forgivess program after 10 years of qualifying payments and employment.
Public Service Loan Forgiveness
You could qualify for complete loan forgiveness if you work in the public sector, or for a non-profit organization. Public service loan forgiveness occurs after 10 years of qualifying payments and employment.
Permanent Disability Discharge
The total and permanent disability discharge program provides loan forgiveness for anyone with federal student loans determined to be completely disabled. The disability must have already lasted, or be expected to last at least 5 years.
Income Driven Repayment Plans
Income-driven repayment plans exist to help borrowers afford their student loan payments. Payment are based on your income and family size, and how much discretionary income you have, not on the loan balance and interest rate. These payments allow you to stay on top of your loans and not fall behind on payments. Income driven payments can be as low as $0.00 per month.
