Loan Discharge & Forgiveness
There are circumstances in which your Stafford or Perkins loan, or a portion of your loan, can be forgiven, or discharged. Below is a partial list of the most common forgiveness programs and discharge events. For a complete list, please contact Customer Service.
If you teach full-time for five complete and consecutive academic years in a low-income elementary school, secondary school, or educational service agency, you may be eligible for forgiveness of up to $17,500 on your Direct Loan or FFEL program loans. See StudentAid.ed.gov/teach-forgive for more information and a form you can fill out when you have completed your teaching service.
Public Service Loan Forgiveness (PSLF)
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 (10 years) qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.
The U.S. Department of Education announced a temporary period through October 31, 2022, during which borrowers may receive credit for payments that previously did not qualify for PSLF. Learn more about the limited PSLF Waiver opportunity.
Thinking about AmeriCorps?
AmeriCorps participants may receive up to $4,725 in education awards to help pay for college or help pay back student loans. Contact AmeriCorps for more information.
Enlisted in the Armed Services?
If you serve as an enlisted person in certain specialties of the U.S. Army, the Army Reserves, the Army National Guard, or the Air National Guard, the U.S. Department of Defense may, as an enlistment incentive, repay a portion of your Federal Stafford and Perkins Loans. Contact the U.S. Department of Veteran Affairs for details.
There are circumstances in which a student loan can be discharged, releasing the borrower of his or her obligation to repay a loan, such as Total and Permanent Disability and death. Typically, student loans are not discharged in cases of bankruptcy. If you think you may qualify to have your loan discharged, please contact your loan servicer.