Student Loan forgiveness is has given to a person who works at a qualified job for a specific period of time and still has a loan to settle. For More Information visit - https://alumfinancial.com/student-loan-forgiveness/

1. Situations That Qualify You For
Student Loan Forgiveness
Source - https://alumfinancial.com/situations-that-qualify-you-for-student-loan-forgiveness/

2. Certain careers at the tertiary level will make you eligible for student loan
forgiveness and total discharge. There are different ways to have your student
loan forgiven or discharged. The first depends on your career while the second
is based on the number of years you make on-time payments when you are
enrolled in a repayment plan. Note there is a difference between having a
student loan forgiven and a loan being discharged.

3. Loan forgiveness is given to a person
who works at a qualified job for a
specific period of time and still has a
loan to settle. Loan discharge is a rare
occurrence but can be granted to loan
defaulters on certain grounds including
death, disability, and bankruptcy. To
lessen the burden of student loans,
Public Service Loan Forgiveness was
created.

4. The program is qualified for by graduates working in the public sector
encouraging them to pursue more careers in the public sector. Some of the jobs
that qualify loan forgiveness include jobs in government offices, jobs in non-
governmental organizations which are designated tax exemption and peace
Corp Volunteers who work in the army. Education, law enforcement and public
health are the most common public service careers that can guarantee student
loan forgiveness.

5. However, you should be aware that not all the Student Loan Repayment plans
guarantee you loan forgiveness. Some of the repayment plans may qualify you
while others may limit you the chances to get your student loan forgiven.
Income-Based Repayment Plan, Pay as You Earn Plan, Revised Pay as You
Earn Plan and the Income- Contingent Repayment Plan are the plans which can
qualify you to get your student loan forgiven.

6. Note also that consideration is put on the
Standard 10-year repayment plan. If you
need Public Service Loan Forgiveness,
enroll in a plan that lets you repay your
loan for a period of more than 10 years.
Loan discharge is another way of
achieving student loan forgiveness. A
discharge is normally awarded by a
judge under rare circumstances.

7. Permanent disability, death, false certification of the student eligibility and
unauthorized signature of the loan b the school are some of the circumstances
that could lead to a loan discharge. Discharge of student loans based on
bankruptcy grounds is a rare occasion that can be considered as technically not
impossible but very difficult to occur. Research more on student debt relief and
the difference between loan forgiveness and discharge before landing on your
preferred line of study.

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