How to Get a Federal School Loan Dismissed
Your federal student loan may be partially or totally dismissed if you're eligible under one of three forgiveness programs. As of 2010, you may qualify if you're a full-time public school teacher in a low-income area, if you're a full-time public service employee or if your school closed prior to graduation from any program. If you don't qualify for one of these three programs, additional loan cancellation programs are available if you become permanently disabled or qualify to have your debt discharged in bankruptcy.
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Instructions
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Determine the program that qualifies you to receive the loan cancellation. The Federal Student Aid "Other Forms" webpage lists the eligibility requirement for each program (see Resources).
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Download the appropriate application form. Forms are available for free from the Federal Student Aid website (see Resources).
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Complete the application. Each application varies in format, but generally you must provide borrower and student information, as well as the remaining amount of debt that should be considered. In some cases the borrower and student information will be the same, but if you're a parent who took out the loan for your dependent child's education, complete the borrower section with your information and the student section with your child's information.
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Sign the application, and mail the original document plus any required attachments to:
U.S. Department of Education
Direct Loan Servicing Center
P.O. Box 5609
Greenville, TX 75403-5609
Retain a copy of your application for your records.
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