Knowing that you're on the right track goes a long way

1. Public Service Loan Forgiveness (PSLF)

• What It Is: A federal program that forgives remaining student loan debt for borrowers working in public service after making 120 qualifying monthly payments.
• Benefits: Complete loan forgiveness without a tax penalty, incentivizing public service careers in government or nonprofit sectors.
• Ideal For: Borrowers employed full-time by government organizations or qualifying nonprofits who want long-term relief from student loan debt.

2. Total and Permanent Disability (TPD) Discharge

• What It Is: Provides federal student loan forgiveness for borrowers who are unable to work due to a permanent disability.
• Benefits: Eliminates student loan debt entirely, relieving financial strain for individuals with significant disabilities.
• Ideal For: Borrowers who can provide documentation from the VA, SSA, or a physician verifying their total and permanent disability.

3. Teacher Loan Forgiveness

• What It Is: A program that offers loan forgiveness of up to $17,500 for highly qualified teachers working full-time for five consecutive years in low-income schools.
• Benefits: Reduces student loan balance for teachers committed to educating in underserved areas, incentivizing careers in education.
• Ideal For: Teachers in qualifying low-income schools or educational agencies, especially those teaching math, science, or special education.

4. Borrower Defense to Repayment Discharge

• What It Is: A discharge option for borrowers whose schools misled them or violated certain laws; offers loan forgiveness for eligible claims.
• Benefits: Forgives federal student loans entirely, helping victims of educational fraud regain financial stability.
• Ideal For: Borrowers who attended schools that made false promises or misrepresented their programs, leading to financial or academic harm.