Top 10 Best Student Loan Forgiveness (NO 9 is Unbelievable – Over $30,000)

Top 10 Best Student Loan Forgiveness

Top 10 Best Student Loan Forgiveness (NO 9 is Unbelievable – Over $30,000) – There are many student loan forgiveness programs, but in this post, I will be discussing the top 10 best student forgiveness programs that you can apply for, if you need some of your loans forgiven or canceled, as the case may be.

So are you a student who has so much loan debt, and doesn’t know how to pay it off? Apply today in any of the following loan forgiveness programs, so that your student loans can be canceled out for you.

We have gathered full details and names of the top 10 loan forgiveness programs that you can apply for, you will find all of them here in this post.


About Student Loan Forgiveness

Student loan forgiveness implies that students will not have to pay back some or all of the borrowed loans. In student loan forgiveness, the term “forgiveness,”  is used to refer to the process of “cancellation,” and “discharge” of the loans that students have collected and have tried to pay but have not finished the payment.

If you owe a lot of loans, which you think you will not be able to finish paying, then you can apply for Public Service Loan Forgiveness, it is the most common way people get their student loans forgiven, or canceled for them.

Student loan forgiveness is a process whereby a student at a college or university agrees to borrow money from a bank to pay for their education and after their studies they can pay for it.


Top 10 Best Student Loan Forgiveness

The following are the top 10 best student loan programs that we are going to discuss in this post; they include:

  1. Income-driven repayment forgiveness
  2. Public service loan forgiveness
  3. Teacher loan forgiveness
  4. Student loan forgiveness for nurses
  5. Perkins loan cancellation
  6. Closed school discharge
  7. Borrower defense to repayment discharge
  8. Total and permanent disability discharge
  9. Total and permanent disability discharge for veterans
  10. Discharge due to death.


Income-driven repayment forgiveness

There are four income-driven repayment forgiveness that allow you to cap your loan payments at a percentage of your monthly income.

Your remaining loan balance may be eligible for forgiveness in as early as 10 years when enrolled in one of these plans. However, the plan is mostly beneficial to those who have a large loan balance.


Public service loan forgiveness

Only government and qualifying nonprofit employees with federal student loans are the ones who are qualified for this loan.  After making 120 qualifying loan payments, eligible borrowers can have their remaining loan balance forgiven.

Teacher loan forgiveness

Those who are eligible for this loan forgiveness are teachers employed full-time in low-income public elementary or secondary schools, and they must have been working for five consecutive years. Loans of about $17,500 in federal direct or Stafford loans can be canceled out for them.


Student loan forgiveness for nurses

There are several options for student loan forgiveness for nurses who are shouldering student debts, they include:

  • Public Service Loan Forgiveness, 
  • Perkins loan cancellation,
  • NURSE Corps Loan Repayment Program
  • Public Service Loan Forgiveness is also an option




Perkins loan cancellation

If you work in public service for five years, as a borrower with federal Perkins loans, up to 100% of your loans can be canceled out for you.

Those who benefit more from the Perkins loan are teachers who work full-time in a low-income public school or who teach qualifying subjects, such as special education, math, science, or a foreign language.


Closed school discharge

As the name implies, close school discharge is a student loan forgiveness program whereby a student, may qualify for loan discharge if your school closes.

At the time of closure, whether you have been enrolled or have left within 180 days, without getting your degree, you can contact your loan servicer to start the application process, if you qualify for it.

Whatever the case, keep paying for your loan even as the application is in progress. You will no longer have to make loan payments, once your application is been approved. In some cases, some of the loans you have paid may be refunded to you or even all.


Borrower defense to repayment discharge

Some sets of students who may also qualify for this loan forgiveness are the borrowers defrauded by their colleges. 

What you need to do, is to apply with a borrower defense to repayment claim with the U.S. Department of Education, your loans are automatically discharged, at the discretion of the Education Department, if you qualify.


Total and permanent disability discharge

If you are disabled, and as a result of that, you cannot work due to being totally and permanently disabled, physically or mentally, it is easy for you to qualify and have your loans forgiven.

For you to be eligible to apply for the total and permanent disability discharge, you must show documents to prove that you are disabled.

Your loans will be discharged after all is said and done, but you will be monitored by the government for three years, after three years, if you fail to meet the requirements, your canceled loans will be reinstated.


Total and permanent disability discharge for veterans.

 Veterans with a total and permanent disability will be forgiven their student loans. It is done automatically, unless where state tax liability is involved, then it can be declined. 


Discharge due to death

 If you die, your death certificate is submitted to your debt voucher. Both the loans your parent’s PLUS loans used to pay for your schooling will be discharged if the holder of the coin is dead.


Other Student Loan Forgiveness Programs

The following are also student forgiveness programs that you can apply for:

  • State-sponsored repayment assistance programs
  • Military student loan forgiveness and assistance
  • Additional student loan repayment assistance programs


Frequently Asked Questions

Is student loan forgiveness true?

Yes, student loan forgiveness, cancellation, or discharge is a real program, but you, must be aware that there are fake people who post as student loan forgives, they will always ask you to pay an upfront payment before the cancellation.


You need to understand that there are legitimate federal forgiveness, cancellation, and discharge programs and there are also scammers too. The legitimate ones are free through the Department of Education, there may be other costs attached.



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