Video: How to Get My Student Loan Discharged or Forgiven

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Getting student loans discharged or forgiven is not common, but it is possible by majoring and working in a certain field, spending a certain amount of time in the military or having an undue hardship that forces bankruptcy. Discover the ways that student loans are forgiven with financial advice from a guidance counselor in this free video on student loans.

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Video Transcript

Hello. I'm Cheri Ashwood. I'm a guidance counselor, and today I'd like to talk to you about how to get your student loans discharged or forgiven. The repayment of student loans is about as unavoidable as death and taxes. But there are a couple of programs that will help you get them discharged or forgiven. In either case, you won't have to pay all, or a portion of the loans. Some of these programs may require you to major in a certain area, and work in a certain profession, a certain area of the country upon graduation. For example, a lot of education programs, there is a teacher shortage, there are a lot of programs that if you work in something like a low income school, or certain rural areas, that they will forgive all or a part of your student loan. I know that a certain extent of military time in the government will forgive or discharge a part of your loans, and then there's also, if you have an undue hardship, heaven forbid, you can file a Chapter Seven bankruptcy, and this may also discharge your student loans. I'm Cherie Ashwood. I'm a guidance counselor, and your future starts today.

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How to Get My Student Loan Discharged or Forgiven

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