Loan Forgiveness Programs

Under certain conditions, you may have all or part of your Stafford and Perkins loans forgiven or cancelled. You do not have to repay the amounts that are forgiven. Loan forgiveness programs are available to certain child care providers and teachers. Puerto Rico and a variety of State governments may offer forgiveness programs for other fields of study.

The IRS considers debts that are forgiven as income. You may have to pay income taxes on the amounts, depending on your total income in the year the debts are forgiven. Loan amounts can be cancelled gradually, which minimizes the impact of taxes.

Loan Forgiveness Programs
Title	Summary
Loan Forgiveness for Teachers	Certain teachers can have a portion of their Federal Stafford loans forgiven.

Seek out additional loan forgiveness opportunities that may be available in your state or commonwealth.