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Under student loan forgiveness, the remaining outstanding balance of principal and accrued interest on an eligible Federal Direct Loan will be forgiven for a student who borrowed and is not in default. This borrowers must also make 120 monthly payments on the loan.

Loan forgiveness is possible only under certain repayment plans, after Oct 1, 2007, while employed in certain public service fields.

You must be employed full time in a qualifying public service filed during the same period in which the 120 payments are made and at the time the actual cancellation is being granted.

For this loan forgiveness, eligible loans out of Federal Direct Loans Program are: Federal Stafford Loans Subsidized, Federal Stafford Loans UnSubsidized, Federal Parent PLUS Loans (parents, graduate, and professional study students), and Federal Consolidation Loans.

Loans from the Federal Family Education Loan (FFEL) Program are not eligible for loan forgiveness.

There is a trick that would allow you to have your FFEL loan forgiven. You would have to consolidate your loans into the Federal Direct Loan Program. This would require you to make 120 payments under the consolidated loan first, before you could apply for loan forgiveness.

Chances are you will have to meet additional eligibility requirements to conoliadate your FFEL loans into William D. Ford Federal Direct Loans.

In case you are not sure what kind of loans you have please visit the National Student Loan Data System at http://www.nslds.ed.gov.

Let SimpleTuition find the right student loan for you.

Student loan discharge refers to the cancellation of a loan, even one in default, due to school closure, false certification, borrower's death, or total and permanent liability.

Receiving loan forgiveness is not automatic. Students or parents must apply for it. For Federal Perkins Loans you will need to contact the school that made you the loan or the school's servicing agent who is managing the loan.

In case the loan is from the Federal Direct Loan Program contact the Direct Loan Servicing Center at: 1.800.848.0979 or visit them on the web at: http://www.dl.ed.gov.

For more contact information please visit our Financial Aid Contacts.

Knowing what reasons do not qualify student s for loan discharge it is easier to understand how student loan discharge works. Now we will take a look at what qualifies loans for discharge.

Stafford and PLUS Loan Discharge, Cancellation and Forgiveness Summary Chart

Our Perkins Loan Discharge and Cancellation Summary Chart shows student loans discharge reasons and how much can be forgiven for Federal Perkins Loans

Below listed are examples of public service full time jobs that would qualify you for student loan forgiveness:

  Emergency Management
  Government
  Military Service
  Public Safety
  Law Enforcement
  Public Health
  Public Education
  Social Work In a Public Child or Family Service Agency
  Public Child Care
  Public Library Service
  Public Service For The Elderly

Many students ask if student loan forgiveness applies to Federal Parent PLUS loans. The answer is Yes. This loan includes Parents, Graduate Students, and Professional Study Students.

In most cases the same forgiveness provisions that apply to Stafford loans apply also to PLUS loans.

In order to be eligible to have your remaining loan balances canceled, you must not be in default. On top of that you must have mad 120 payments on the eligible loans beginning after Oct 1, 2007. Earlier payments will not count.

Those 120 payments must have been made under any one or a combination of the following Direct loan program Repayment Options: standard repayment plan, income contingent repayment plan, income based repayment plan, other Direct loan payment plan.