In order to get rid of student loans without paying them in full, an individual can apply to a loan forgiveness or discharge program created by the federal government. If the student qualifies, all or a portion of the student loan debt can be eliminated.
A borrower who participates in community service, works in areas or fields that need help, or has extenuating and unpredicted circumstances might qualify for discharge or loan forgiveness programs.
With community service programs, the amount of the loan that is repaid is based on the borrower's service in the AmeriCorps program. Fields that are most often eligible for the profession program include teaching and health. With a military program, the individual can either have his education paid for while he is earning it, or he can enroll in an existing loan forgiveness program.
Examples of discharge programs include disaster, closed schools and financial hardship. Disaster programs are intended for the spouses of qualifying public servants who perished or became disabled due to injuries suffered from the 9-11 attacks. Closed school discharge programs apply to a borrower whose school closed down either while he was attending it or within 90 days of his leaving the school.