Federal student loans provide special benefits that several different loans don’t. One benefit is the ability to qualify for Student loan forgiveness under special circumstances, the government might forgive half, or all, of your federal student loans.

This means you’re not responsible to make payments on your loan payments. Another benefit is there may be some situations where you may qualify to have your loans canceled or discharged.

Here are some of the most common types of loan forgiveness and discharge.

• Public Service Loan Forgiveness
• Closed School Discharge
• Teacher Loan Forgiveness
• Total and Permanent Disability Discharge
• Borrowers Defense to Repayment

Public Service Loan Forgiveness

Under the Public Service Loan Forgiveness Program, eligible borrowers will have their federal student loans forgiven after 120 qualifying payments (10 years). Currently there are no limits on the amount that can be forgiven and forgiveness is not taxable income.

Learn more about the Public Service Loan Forgiveness eligibility requirements, and how to apply.

Closed School Discharge

This program is available if you attended a school that closed while you were enrolled or if you withdrew 120 days before the school’s closure. In some cases, The government may extend the 120 day period.

Learn more about the Closed School Discharge eligibility requirements, and how to apply.

Nurse, Social Workers and Teacher Loan Forgiveness

The state has come up with a new way to hopefully help with the state’s teacher shortage. It has come up with a new program that offers teachers up to $24,000 in student loan forgiveness. State Superintendent Kirsten Baesler says the amount of loan forgiveness depends on the teacher’s job and where it is located. Those selected will receive between $12,000 and $24,000 worth of loan forgiveness over four years.

Learn more about the Teacher Loan Forgiveness eligibility requirements, and how to apply.

Total and Permanent Disability Discharge

Total and Permanent Disability Discharge is available to federal student loan borrowers who are disabled and unable to engage in any substantial gainful activity (employment) because of a physical or mental impairment.

The discharge would provide you with relief on your student loans by removing the debt completely that is under your name. You must be able to prove to the Department of Education (DoE) that you are in fact permanently disabled.

Learn more about the Total and Permanent Disability Discharge eligibility requirements, and how to apply.

Borrowers Defense to Repayment

Under the law, you may be eligible for loan forgiveness (a discharge) of the federal Direct Loans you took out to attend a school if that school committed fraud by doing something or failing to do something, or otherwise violated applicable state law related to your loans or the educational services you paid for.

This can apply to you regardless of whether your school closed. This process is called borrower defense to repayment, and the law requires borrowers to submit a claim in order to receive debt relief.

Learn more about the Borrowers Defense to Repayment eligibility requirements, and how to apply.

You are Not Alone

You can decide to talk to a financial advisor to help you navigate and understand your loans as well as providing you with professional assistance to file your claim professionally and guarantee the best possible outcome.