Can A College Loan Be Forgiven?

Yes, college loans can be forgiven, in whole or in part, depending on your profession and certain service criteria.The government, various types of student loan forgiveness programs for people in a particular profession that contribute to the economic well-being.

If you have a full-time teacher for at least five years in a row in a low income school district, and have borrowed funds through the Federal Stafford Loan Program, you can loan cancellation (Federal Teacher Loan Forgiveness Program) request. The main objective of this program is to encourage the existence of students who enter the teaching profession in some primary or secondary schools that provide education to families with low incomes. Teachers who can meet the qualifications for this assistance received everywhere by $ 5.00 to 17,500 of their student loans forgiven. In general, receive secondary science and math teachers and special teachers, the most benefits from this program. You can read more details and requirements for this program can be found here http://www.tgslc.org/pdf/teacher_loan.pdf

Social workers who work full time in the field of child welfare, public defense, fire brigade, police, educators, nurses and those in the maintenance of the public sector can college loans forgiven, so long enjoyed as the specified provisions of the Higher Education Act qualify based activities and the College Cost Reduction Act of 2007.

Doctors who may, in certain geographic areas underserved also avail the loan forgiveness program that allows up to $ 25,000 in student loan forgiveness, if qualified (full-time service in the specified geographical area for at least 2 years work). These include dentists, family doctors, midwives, etc.