How to Apply for Loan Forgiveness

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  • Loan forgiveness programs exist to draw students into careers that, while possibly less lucrative, improve the public good. In exchange for work in undeserved areas or in the Peace Corps, for example, a significant portion of their loans can be wiped clean. Read our how to apply for loan forgiveness guide to learn the critical details.

    As the result of volunteer work, teaching, military service, or other public service employment, the federal government may erase some or all of your student loan debt. The opportunities for loan forgiveness vary widely, from a year's commitment in a volunteer program to years of work in the public sector (after which, presuming you've made on-time payments throughout that period, the rest of your debt is simply wiped away). As what you decide to do professionally may be influenced by your degree of student loan debt, read on to understand the logistics of applying for student loan forgiveness and whether or not you will qualify.