How do I know if my student loans will be forgiven?
To be eligible for forgiveness, you must have federal student loans and earn less than $125,000 annually (or $250,000 per household). Borrowers who meet that criteria can get up to $10,000 in debt cancellation. If you also received a Pell Grant during your education, you can qualify for up to $20,000 in forgiveness.
How long until student loans are forgiven?
Any outstanding balance on your loan will be forgiven if you haven't repaid your loan in full after 20 years (if all loans were taken out for undergraduate study) or 25 years (if any loans were taken out for graduate or professional study).
Are student loans being forgiven after 10 years?
Under the federal program, eligible borrowers can have their loans discharged after 10 years if they meet eligibility requirements.
How will student loans be forgiven?
Public Service Loan Forgiveness\n\n PSLF forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.