Forgiveness, Cancellation, and Discharge Programs
The U.S. Department of Education has information about federal student loan forgiveness, cancellation, and discharge programs.
Teacher Loan Forgiveness
The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, if you teach full-time for five complete and consecutive academic years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness programs.
Public Service Loan Forgiveness Programs
If you are employed in public service jobs and meet certain requirements, the remaining balance that you owe may be forgiven.
AmeriCorps is a national network of programs that helps communities throughout the nation. AmeriCorps offers several ways to get involved, from part-time local service programs to full-time residential programs. Members receive guidance and training so they can make a contribution that suits their talents, interests, and availability. AmeriCorps offers programs to help you put money towards towards your loan or future education costs.
The PeaceCorps is a federal agency that provides volunteers to foreign countries. Peace Corps Volunteers work in the following areas: education, youth outreach, and community development; business development; agriculture and environment; health and HIV/AIDS; and information technology. Within these areas, the specific duties and responsibilities of each volunteer can vary widely. Volunteers may apply for deferment of and partial cancellation of certain types of student loans.