Student Loan Forgiveness (and Other Ways the Government Can Help You Repay Your Loans)

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Here's a common question from customers who have taken out student loans…Is it really possible to have my federal student loans forgiven or to get help repaying them?

The answer: Yes!

However, there are very specific eligibility requirements you must meet to qualify for loan forgiveness or receive help with repayment. Loan forgiveness means you don't have to pay back some or all of your loan.

You never know what you may be eligible for, so take a look at the options we have listed below.

1. Teacher Loan Forgiveness

If you teach full-time for five complete and consecutive academic years in certain elementary or secondary schools or educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness of up to a combined total of $17,500 on eligible federal student loans. Get the details about Teacher Loan Forgiveness here.

2. Public Service Loan Forgiveness (PSLF)

If you work full-time for a government or not-for-profit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you've made 120 qualifying payments—that is, 10 years of payments.  To benefit from PSLF, you should repay your federal student loans under an income-driven repayment plan. Learn more about PSLF now! If you're interested in PSLF, contact FedLoan, the PSLF servicer, as soon as possible at 1-855-265-4038.

If you have been denied loan forgiveness under PSLF because one or all of the payments you made on your Direct Loans were under a nonqualifying repayment plan, you might be eligible forTemporary Expanded Public Service Loan Forgiveness (TEPSLF). Learn more about TEPSLF and how to apply for this first come, first served opportunity.

3. Income-Driven Repayment (IDR) Plan

If you repay your loans under a repayment plan based on your income, any remaining balance on your student loans will be forgiven after you make a certain number of payments over a certain period of time. Learn more about IDR plans and how to apply.

4. Military Service

In acknowledgment of your service to our country, there are special benefits and repayment options for your student loans available from the U.S. Department of Education and the U.S. Department of Defense. Benefits include interest rate caps under the Servicemembers Civil Relief Act and Department of Defense student loan repayment programs. Learn more about federal student loan benefits for members of the U.S. armed forces.

5. AmeriCorps

The Segal AmeriCorps Education Award is a benefit received by participants who complete a term of national service in an approved AmeriCorps program—AmeriCorps VISTA, AmeriCorps NCCC, or AmeriCorps State and National. After you successfully complete your service, you are eligible to receive a Segal AmeriCorps Education Award, which can be used to repay qualified student loans.

6. Other Options

Check out the "Student Loan Forgiveness" page for information about other types of loan forgiveness and discharge that might be available if you meet certain conditions.

If the options listed above don't apply to you, but you need help making your federal student loan payments,  contact your loan servicer about the option to

  •  Switch your repayment plan to lower your monthly payments,
  •  Consolidate multiple federal loans into one loan which may result in a lower monthly payment, or
  • Apply for deferment or forbearance to temporarily postpone or reduce your payments.