13 Student Loan Forgiveness Programs To Discharge Your Debt

Student loan forgiveness has been a hot topic for the better part of the last four years. From the moment student loan payments were paused due to COVID-19, and President Biden stepped into the oval office, we have tirelessly watched the back and forth between Democrats and Republicans argue whether or not student loan forgiveness was possible or legal.

With every step forward we take towards a viable student loan forgiveness program, it seems like we are tossed 10 steps back. AKA we got some haters on the streets making it rather difficult for people to receive student loan aid. 

The latest SAVE plan blockage which would have allowed for payments to be cut in half is no different and unfortunately not surprising. 

But… though the process has been rocky, there has been some progress. 

Approximately 4.75 million Americans have received $167 billion worth of student loan forgiveness under the Biden - Harris administration. As of May 2024, one out of every 10 federal student loan borrowers have now been approved for some form of debt relief. 

Though we are still waiting for litigation to stop getting in the way of more widespread loan forgiveness, there are still opportunities for you to obtain student loan forgiveness with one of these 10 student loan forgiveness programs to discharge your debt.

13 Student Loan Forgiveness Programs To Discharge Your Debt 

Things you need to remember about loan forgiveness programs: 

Before we get to the loan forgiveness programs, I have to remind you of a few key important things to help you be as successful as possible obtaining loan forgiveness. 

First things first, your loan can not be in default. If you have defaulted on your student loans, you will have to bring the loan back into good standing. I strongly suggest contacting your loan provider to discuss how you can become current and back in good standing in order to be eligible for any of the loan forgiveness programs mentioned below. 

Another really important to remember is, scammers gon’ scam! Scammers love to prey on people when they are at their most vulnerable. Scammy debt relief companies will make all sorts of loan forgiveness claims to lure you in and then promise you the world for a fee. REMINDER: It costs nothing to apply for loan forgiveness and the only real loan forgiveness programs available are the ones below! Everything else is a SCAM and they are out to steal your hard earned money.    

Student Loan Forgiveness Programs

These plans (as with all the plans mentioned below) will be focused on federal loans. Specifically, these federal programs are offering complete student loan forgiveness after a specific amount of payments / time has passed. 

1. Public Service Loan Forgiveness (PSLF): The PSLF has had a major overhaul in recent years under the Biden - Harris administration which has allowed for much clearer and achievable guidelines. Prior to these changes, it was very difficult to apply and receive forgiveness through this federal program. Who is eligible? Government and qualifying nonprofit employees. Your federal loans will be forgiven (tax free thankfully) after you’ve made 120 qualifying (10 years) loan payments. With the adjustments to the PSLF, they have widened the aperture when it comes to what qualifies as a qualifying payment. You can learn more about the application process here. 

2. Teacher Loan Forgiveness: This is the second of the three loan forgiveness programs that teachers can apply to. Though it will not wipe out all of your remaining student loan debt like the PSLF, you can receive this loan forgiveness much quicker (in 5 years as opposed to 10). In order to receive this teacher loan forgiveness you need meet all of the following requirements:
   • Teach full time for 5 consecutive years at a qualifying low-income elementary or secondary school. For my NYC teachers specifically this is what is known as a “Title I” school. You can find a full list of eligible schools at the Teacher Cancelation Low Income Directory. 
   • You must have federal direct or or stafford loans to qualify

You can earn up to $5,000 in loan forgiveness as a full time elementary or secondary teacher who teaches humanities and $17,500 if you teach math, science or special education. This is the application to apply.    

3. Nursing Loan Forgiveness: This loan forgiveness program is for my nurses. The NURSE Corps Loan Repayment program pays up to 85% of qualified nurses’ unpaid college debt. It is a highly competitive program, so I recommend using the PSLF (if eligible) and the Perkins cancellation program in addition to increase your chance of receiving forgiveness. To be eligible for the NURSE Corps program, you must:
   • Be a licensed nurse, advanced practice registered nurse, or nurse faculty member. 
   • Received your nursing education from an accredited school of nursing located in the US  
   • Working full time in an eligible CSF in a high need area or in an accredited school of nursing. 

You can learn more about the process and application here. (Note: the program does favor funding those who need the most help financially) 

4. Income Driven Repayment Forgiveness: The IDR plan, just like the PSLF has gone through some huge changes that have made student loan forgiveness quite a bit more accessible. There are several IDR plans you can choose from that will adjust your monthly payment based on your income. After a certain amount of time (as early as 10 years) you will receive forgiveness on the remaining balance.  

Student Loan Cancelation Programs 

1. Perkins loan cancellation: This is the 3rd option that teachers have (second for nurses) when it comes to student loan forgiveness. If you have federal Perkins loan, you can receive 100% loan cancellation if you work in public service for 5 years. 

Misc Student Loan forgiveness Programs 

1. Military student loan forgiveness: If you are a military personnel in the Coast Guard, National guard, Navy, Army, or Air Force you may be eligible for loan forgiveness through the individual military branch itself. Each military channel will offer their own student loan forgiveness plan with differing qualifications.    
2. Student Loan Repayment Assistance Program (LRAP): Besides at the state level, there are national and organizational loan repayment assistance programs that offer loan forgiveness support for public service professionals. It is worth a very good google to look up LRAPs (loan repayment assistance programs) in search of similar programs for your career path. For example the National Institutes of Health who offer $35,000 in debt assistance annually to health professionals. While the District Attorney and Indigent Legal Services Attorney Loan Forgiveness Program (DALF) offers up to $20,400 for full time District Attorneys in NY state. For my lawyers, you can find LRAP’s in a consolidated list put together by the American Bar Association right here!
3. State sponsored loan assistance programs: Specific states will offer various loan forgiveness programs to licensed teachers, lawyers, doctors and nurses. To find out if your state offers a specific program, contact the higher education department of your state to find out if you qualify  

Student Loan Discharge Programs 

1. Your school closed: If your school closed before you could earn a degree, you can apply for closed school loan discharge and your federal loans will be dismissed. To be eligible for this particular loan forgiveness program you must meet these two conditions:
   • The school closed when you were still enrolled and you were not able to complete your program (this also counts if you were on an approved leave of absence) 
   • Your school closed in 180 days (essentially within 6 months) after you withdrew from a program without your degree  

If you meet the requirements, you would automatically receive a discharge application that would need to be submitted to your loan provider. If you think you should be eligble for this form of loan forgiveness, contact your loan provider directly in re: loan discharge application process. You can find the application here! Note the processing of this loan forgiveness type is currently paused due to a federal court delay. 

2. Borrower Defense Program: The most recent win for borrowers comes under the Borrower Defense program which provides loan forgiveness for people who have been  defrauded by their schools. There are several requirements and a list of schools that would qualify for this type of forgiveness. You can learn more about them and file an application here. 
3. Disability Discharge: This loan forgiveness program was one of the first steps towards loan forgiveness that the Biden-Harris administration were able to bring to life. If you can not work due to being permanently disabled (physically or mentally) you may be able to  have your remaining student debt canceled. Depending on your situation you will need to supply documentation to support your claim. This documentation should come from the Social Security Administration or a physician.  
4. Permanent veteran disability discharge: Similar to the previously mentioned disability discharge, if you served in the military and are permanently disabled (physically or mentally) you may be eligible for student loan forgiveness as well. Instead of documentation from SSA or a physician, you would provide documentation from the U.S Department of Veterans Affairs. It is important to note that for either types of disability debt discharge, the government may monitor your finances and disability for the next 3 years. Your loans may be reinstated if you do not continue to meet those requirements. You can learn more here.  
5. Death discharge: Though you can not apply for this loan forgiveness for yourself, if you do pass away, your federal student loans will be forgiven once a copy of a death certificate is sent to your loan provider. If your parent passes away and they took a parent PLUS loan for you, that loan is also eligible for loan discharge.  

If you think you are eligible for any of these forms of loan forgiveness, but you are not incredibly sure, I highly suggest reaching out to your loan provider and asking as many questions to clarify any areas of uncertainty. 

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