Repayment

Loans Forgiveness/Discharge
Consider loan discharge/forgiveness of your student loan if you meet the federally mandated requirements. If you are eligible for loan discharge, your student loan will be forgiven and you will not have to repay the loan. Contact your lender for more information.

Possible reasons for student loan discharge include:

• Total and permanent disability
• Death
• Closed school
• Bankruptcy
• False certification
• Unpaid refund

For more information on student loan discharge please visit the FSA web site.

Teacher Loan Forgiveness
The Loan Forgiveness for Teachers Program allows qualifying borrowers to have a portion of their Federal Student Loans forgiven. In exchange for teaching in a qualified low-income school for five years, up to $5000 (maximum) of your outstanding student loans are forgiven or cancelled.

To be eligible you must meet the following conditions:

1. Loans must be made on or after October 1^st, 1998.
2. You must be employed as a full-time teacher for five consecutive years.  At least one year must be after the 1997-98 academic year.
3. You must teach at a qualifying school. Certain conditions allow for interruption of teaching service.
4. You must have an unpaid balance on your loan.

For more information on teacher loan forgiveness please visit the FSA web site.