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What is meant by loan forgiveness?

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Anonymous

12y ago
Updated: 8/20/2019

If an individual has all the charges of their student loan cancelled out by the government, that is considered "loan forgiveness". This was started in 2012

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Wiki User

12y ago

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What are some common questions about student loan forgiveness?

Common questions about student loan forgiveness include: "How do I qualify for loan forgiveness?", "What types of loans are eligible for forgiveness?", "What are the requirements for Public Service Loan Forgiveness?", and "How do I apply for loan forgiveness?"


What loan forgiveness options does Nelnet offer?

Nelnet offers loan forgiveness options such as Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, and Total and Permanent Disability Discharge.


Which loans are eligible for student loan forgiveness?

Federal student loans are typically eligible for student loan forgiveness programs, such as Public Service Loan Forgiveness and Teacher Loan Forgiveness. Private student loans are generally not eligible for these forgiveness programs.


How does loan forgiveness work?

Loan forgiveness information can be found on your local government website. They have all the tips you need and who qualifies for loan forgiveness programs.


How does forgiveness work?

Loan forgiveness information can be found on your local government website. They have all the tips you need and who qualifies for loan forgiveness programs.


How can I check on student loan forgiveness?

You can check on student loan forgiveness by contacting your loan servicer or the Department of Education to see if you qualify for any forgiveness programs based on your specific circumstances.


How can I apply for student loan forgiveness with Sallie Mae?

To apply for student loan forgiveness with Sallie Mae, you need to contact them directly and inquire about their forgiveness programs. They may have specific requirements and processes for loan forgiveness that you will need to follow.


Who should I contact for student loan forgiveness?

You should contact your loan servicer or the Department of Education for information on student loan forgiveness programs.


What is student loan forgiveness?

Student Loan Forgiveness is when a student can't pay a loan that he owes and so the government has money to pay for that loan if he/she is unable to make the payments on it.


How do you know if you are approved for student loan forgiveness?

You will know if you are approved for student loan forgiveness by receiving a notification from your loan servicer or the forgiveness program. This notification will confirm that your application has been accepted and your loans will be forgiven.


Do zero dollar payments count toward loan forgiveness?

No, zero dollar payments do not count toward loan forgiveness.


How can I effectively ask for student loan forgiveness?

To effectively ask for student loan forgiveness, you should research and understand the forgiveness programs available, gather all necessary documentation, and submit a formal request to your loan servicer with clear and compelling reasons for why you qualify for forgiveness.