Student Loan Forgiveness : How To Apply For Student Loan Forgiveness in 2022 ?



Student loan forgiveness program as the name explains itself, refers to forgiving the education’s debt for students who qualify for it, which means they don’t have to repay their whole loan or part of it.

If you want your loan forgiven, you should apply for it and continue your debt payment until you get accepted.

How does student loan forgiveness work 

As we mentioned before, forgiveness, cancellation or even discharge of a loan means that you can stop repaying some or all the loan. To understand how this program work, you should learn first the differences between forgiveness, cancellation and discharge.

These three terms are similar in a way, but used in different cases. For example, if you get a job and you’re no longer need to repay the loan, in this case we call it forgiveness or cancellation. If there is another case which is beyond your control, such as permanent disabilities or the closing of the school where you got your loan, you can get a discharge.

Types of forgiveness, cancellation and discharge

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Public Service Loan Forgiveness

You can get forgiveness if you get a job with the government or with a not-for-profit organization, you get it under the Public Service Loan Forgiveness(PSLF) Program, as the program forgives your remaining loan after you make a certain monthly payment under a qualifying repayment plan while working your full time.

Teacher Loan Forgiveness 

For this case, if a teacher works full-time for five consecutive academic years, either in an elementary school, secondary or educational service agency with a low income, he can get forgiveness for some of his loan, and that can go up to $17500.

Closed School Discharge

For a closed school loan discharge, you can get it in case your school closes while you’re still registered with them or soon after you withdraw.

Perkins Loan Cancellation and Discharge

You can have your whole Perkins Loan cancelled or a part of it, due to your employment or your volunteer services, it is also available for teachers.

Total and Permanent Disability Discharge

For a total disability or a permanent one, you can get a discharge of your federal student loans or even Teacher Education Assistance for College and Higher Education.

It’s available for Direct Loan, FFEL Program loan, and Perkins Loans.

Discharge due to Death

If the borrower dies, he will be discharged of his loan. It’s available for Direct Loan, FFEL Program loan, and Perkins Loans.

Discharge in Bankruptcy (in rare cases)

If you declare bankruptcy, you can get your federal student loan discharged.

It’s available for Direct Loan, FFEL Program loan, and Perkins Loans.

False Certification Discharge

As in this case, if your school and falsely certified your qualification to receive a loan, you have the right to get a discharge of your loan.

It’s available for Direct Loan and FFEL Program loan.

Unpaid Refund Discharge

It means if you quit from your school and the school didn’t make a required return of your loan funds to the loan servicer, you should ask for a discharge of the portion of the loan that your school failed to return.

Eligibility for Parent Borrowers

It’s the same process for parents as they’re the borrowers, so all what we mentioned above is similar for parents borrowers, such as if the student die or get a disability, the borrowers can benefit from a discharge of their child loan.

How Students Loan Forgiveness Works

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As we know so far, people can get released from repaying their loan, especially for those who work in certain public service occupations, such as teaching, military service and more.

How to apply for student loan forgiveness

Who is eligible for students’ loan forgiveness?

If you consider yourself qualified to get a forgiveness for your loan, which means you do any public service work or you have a disability, you can go straight to your loan servicer and apply for it, and if you have a Perkins Loan, you should contact the school or the loan servicer that made your loan. If you want to find out if you can apply for it, you should log into your personal account on the department of education, that will show you what loan you have and the list of the loans you have taken out.

How to apply for student loan forgiveness

You should start with consolidating your FFEL program loans and Perkins Loans into a direct consolidation loan by Oct.31, 2022. After you complete the consolidation, you must submit a PLSF form to your loan servicer.

If I qualify, what steps do I need to take?

In this case and if you qualify for forgiveness, cancellation, or discharge of the full loan, you are no longer asked to repay your loan. If you qualify for forgiveness, cancellation, or discharge of a portion of your loan, you will be responsible for repaying only the remaining loan. You should be aware that sometimes if you get a discharge in certain loans, you can also receive a refund of some or all the payments you made on the loan

Student loan forgiveness programs

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The government as many know offers you four main income driven repayment plans, which allow you to cap your loan payments at a percentage of your monthly salary. If you get accepted in one of these plans, your unpaid loan balance will be qualified for forgiveness after 20 or 25 years, depending on the plan you have. These plans can be more beneficial for people with large loan balances relative to their income.

Public Service Loan Forgiveness

Public Service Loan Forgiveness is available to employees with government or a qualifying non-profit employees with federal student loans. Borrowers who are qualified for the loan forgiveness can have their remaining loan balance forgiven tax-free after making 120 qualifying loan payments. Until Oct. 31, 2022.

Teacher Loan Forgiveness

Teachers working full time in public elementary or secondary schools low-income may be qualified for Teacher Loan Forgiveness after working for five consecutive years. They can have up to $17,500. To qualify for this program, teachers must have taken out loans after Oct. 1, 1998.

Student loan forgiveness for nurses

Nurses with student debt have a few options for student loan forgiveness. There is Public Service Loan Forgiveness, Perkins loan cancellation, and also the Nurse Corps Loan Repayment Program, which may pay up to 85% of qualified nurses’ unpaid college debt. Public Service Loan Forgiveness remains then best option for most nurses, while few borrowers have Perkins loans, and the Nurse Corps program is highly competitive.

Obama/Biden student loan forgiveness

There’s no loan forgiveness called “Obama student loan forgiveness.” However, some student “debt relief” companies use it as a catch-all term for free federal programs, which they charge to attract borrowers in. If you encounter any company offering “Obama student loan forgiveness,” don’t get involved with them. If you want to benefit from federal programs like income based repayment or federal loan consolidation, you can process by yourself through the department of education.

Other student loan forgiveness programs

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There are a many other student loan forgiveness or payment assistance programs you may qualify for through federal or state programs. Qualification in these programs depends on your job and place of work.

State-sponsored repayment assistance programs

If you’re a licensed teacher, nurse, doctor or lawyer, you may know that in certain states you can benefit from programs to assist your repaying debt. For example, the Mississippi Teacher Loan Repayment Program may pay up to $3,000 per year for a maximum of four years on undergraduate educational loans to teachers with a certain teaching license for every year of teaching full time in a particular geographical or subject area.

Military student loan forgiveness and assistance

People in the Army, Navy, Air Force, National Guard or Coast Guard may qualify for their own loan forgiveness programs. In the National Guard, for example, soldiers and officers may receive up to $50,000 to pay off federal student loans through the Student Loan Repayment Program.

Other student loan repayment assistance programs (LRAPs)

It’s obvious that there may be other national or organizational student loan repayment assistance programs offered for public service professions. Let’s take The National Institutes of Health as an example, since it offers up to $35,000 in debt assistance annually to health professionals who are appointed by the institutes to conduct research.

Student loan discharge programs

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Closed school discharge

You may qualify for loan discharge if your school choose to close. At the time of the closing, you must have been registered with them or have left within 120 days, without receiving your degree. If you’re qualify for getting a forgiveness, contact your loan servicer to start the application process. But you should know that you will have to keep continuing you payment while the application is being processed. And you will stop the repayment once you get accepted and maybe get a refund.

Borrower defense to repayment discharge

 Borrowers that were deceived by their college may qualify for debt relief. All you need to do is to file a borrower defense to repayment claim with the U.S. Department of Education. Once you qualify, you may have your loans automatically discharged, at the discretion of the Education Department, if your school was involved in clear, widespread fraud or misrepresentation that affected a broad group of borrowers.

Total and permanent disability discharge

 If you can no longer work due to being totally and permanently disabled, physically or mentally, you may qualify to have your remaining student loan debt cancelled. To be qualified for a total and permanent disability discharge, you’ll need to provide documentation proving your disability. Once your loans are discharged, the government may monitor your finances and disability for three years. If you don’t meet requirements during the monitoring period, your loans may be reinstated.

Total and permanent disability discharge for veterans

Veterans who suffer from a total and permanent disability, will have their student loan debt discharged. The process will be automatic.

Discharge due to death

 If you die, and after your death certificate is submitted to the loan servicer, your federal loans will be automatically discharged. In case if it’s the parent’s Plus loan who used to pay for your loan, he will also be discharged.