Question

What is loan forgiveness?

Answer

Loan forgiveness is when a student has some sort of extenuating circumstance in which they will not be able to repay an education loan.  The remaining balance is then "forgiven" or no longer owed.

Some instances that merit loan forgiveness are:

  • Performing volunteer work
  • Performing military service
  • Teaching or practicing medicine in specific types of communities

Categories: Financial Aid | Student Loans
Tags: loan forgiveness student loans

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