The first type of student loan forgiveness is the Public Service Loan Forgiveness (PSLF) program.
This program is available to those who work for a qualified employer in the public sector.
This includes government agencies, nonprofit organizations, and certain types of private-sector employers.
To be eligible, you must make 120 qualifying payments while working for a qualified employer.
Once you have made these payments, the remaining balance on your loans will be forgiven.
The second type of student loan forgiveness is the Teacher Loan Forgiveness program.
Teachers who work for educational service organizations or institutions with limited incomes are eligible for this program.
To be eligible, you must have been teaching for at least five years and have a loan balance remaining.