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Where can a student get help with a defaulted loan?

Ashley Howard

in Student Loans

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1 answer

Jessie Thompson on January 21, 2018

If it is a federally backed loan, it can't be usually be discharged in bankruptcy, although there are exceptions, but you do forgive loans for a number of reasons. From the Stafford loan site; Under certain circumstances, the federal government will cancel all or part of an educational loan. This practice is called "loan forgiveness". To qualify for the loan forgiveness, you must: . Perform volunteer work . to qualify for public service loan forgiveness . To perform military service . Teach or practice medicine in certain types of communities . Comply with other criteria specified by the forgiveness program, see their web site for the other forgiveness criteria they have you might meet. Most of them appear to be linked to the public safety, education, health care or work, the schools that disappeared before the program ended, the guarantor or the student has died, the student becomes totally and permanently disabled, but check carefully to see if you qualify under one of the many provisions.

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