Loan Forgiveness

What is loan forgiveness?
The practice of loan forgiveness involves the federal government cancelling all or part of an educational loan, under certain circumstances. To qualify, you must:

• Perform volunteer work
• Perform military service
• Teach or practice medicine in certain types of communities
• Meet other criteria specified by the forgiveness program

Can my loan be forgiven if I have defaulted on it?
No, defaulted loans are ineligible for forgiveness.

How can I find out about other opportunities not listed below?
Contact your employer and inquire as to whether or not they provide any type of loan forgiveness.

FORGIVENESS PROGRAM	WHO IS ELIGIBLE?	AMOUNT OF FORGIVENESS	ELIGIBLE LOAN TYPES
Teachers	Full-time/part-time teachers working in public, Title I schools	Up to $5000 reduction after 5 years $17,500 reduction for special-ed, math and science teachers 100% Perkins forgiveness after 5 years	FFELP Federal Direct Perkins
Public Service	Full-time professionals employed in public service	Any remaining debt after 10 years of repayment	Federal Direct
Military	Persons who served or are currently serving in the U.S. Armed Forces (Military service is also included under public service professions)	Partial cancellation of loan for service in the United States Armed Forces if military service was for a full year in a hostile area	Federal Direct Perkins
Child Care Providers	Persons with a degree in the field of early childhood education and who are childcare providers in a facility that serves a low-income community	Up to 100% of loan forgiven	FFELP Federal Direct

Listed below are websites you may find helpful for further research on student loan forgiveness. You may also contact your lender for additional information as well.

www.ed.gov
www.studentaid.ed.gov
www.ibrinfo.org
www.finaid.org/loans/publicservice.phtml
www.finaid.org/loans/forgiveness.phtml
www.studentaid.ed.gov
www.socialworkers.org