Student Loan Forgiveness is a program that allows borrowers to have some or all of their student loan debt canceled. This can happen through various methods, such as working in certain public service jobs, meeting specific income requirements, or making consistent payments over a set period. The goal is to ease the financial burden on individuals who have taken out loans to pay for their education.
There are different types of forgiveness programs, including Public Service Loan Forgiveness and Teacher Loan Forgiveness. Each program has its own eligibility criteria and application process. Borrowers should research their options to determine if they qualify for any forgiveness programs that could help reduce their student loan debt.