Student Loan Forgiveness

Student loan forgiveness requires the federal government to cancel part or all of an educational loan. Loan forgiveness can provide students with profound debt relief after four to eight years of studying at a college or university, including graduate school.

Some students can erase debt with volunteer work.

While the federal government can cancel or reduce the debts you owe via student loans, the circumstances under which they will offer debt forgiveness is specified by the types of forgiveness programs. Different programs offer different levels of forgiveness or will repay your college debts. Remember that scholarships or grants are not loans and do not need to be repaid.

Volunteer work can help provide you with loan forgiveness or funds to help pay off your loans. Many large-scale volunteer organizations offer specific college loan forgiveness or debt relief programs based on your time spent in service.

AmeriCorps offers a variety of service programs that you can become involved in. Tutor kids, clear trails, renovate houses, provide disaster relief and work with others in a variety of projects. Devoting your time to AmeriCorps can earn you up $7,400 in stipends and another $5,000 towards student loans.

Volunteers in the Peace Corps can apply for deferment of different loan programs and may even earn cancellation of Perkins Loans (15% for each year of service to the Peace Corps). The Peace Corps members make a real difference in the lives of people throughout the world and in developing countries.

The Army National Guard offers a Student Loan Repayment Program for students who join. If you are a military veteran you may be eligible for educational assistance programs.

Community service offers you different opportunities for loan forgiveness, particularly in the fields of education, medicine and law.

The American Federation of Teachers offers many student loan forgiveness programs for students who serve as teachers at elementary and secondary schools in low-income and rural areas. Perkins loans may be forgiven for each year serving as a teacher. Contact your local school district to see if your schools are eligible.

The Equal Justice Works, once known as the National Association for Public Interest Law, helps law students access loan forgiveness at their law schools for work in public or non-profit positions. A law school student who graduates, passes the bar and serves as a public defender may find their student loans for law school forgiven.

Registered nurses and physicians who agree to practice law in economically-depressed and remote locations in need of medical care can seek loan forgiveness via the US Department of Health and Human Services. Physicians who conduct clinical medical research and devote time and resources to the effort may be eligible for the U.S. National Institutes of Health Loan Repayment Programs.

Many states, corporations and other organizations offer loan reimbursement or loan forgiveness programs. Investigate your options by contacting state or corporate offices and organizations related to your field of study.

• Free Federal Money for College
• Things to Take to College Dorm
• Ways to Decorate a College Dorm Room

• List of Ivy League Schools
• College Girls Flashing
• Scholarships for Future Teachers
• Drunk College Girls
• College Party

• Scholarships for Future Teachers
• Minority Scholarships
• Main Page
• Category:Financial Aid
• Direct Student Government Loans