The majority of college graduates are likely struggling under the burden of student loans. It's sad that just when you should be starting out on the path to a brighter future you find yourself deep in debt with years of payments ahead of you. In addition, many of these graduates who hold these loans find themselves unable to pay them off, no matter how hard the try. The good news is that under Obama's Student Loan Forgiveness Program, there are several options that could help you get out from under this burden.

Public Service Loan Forgiveness:

Obama's Student Loan Forgiveness Program can help those who end up working for non-profit organizations or in government positions. In these cases, the repayment plan is usually based on your income so if you consistently pay down your debt for ten years then you may qualify for loan forgiveness. If you'd like to apply for this type of loan forgiveness visit service and fill out an application.

Teacher Loan Forgiveness:

This forgiveness plan is for teachers who have taught for at least five consecutive years in a low-income school or educational facility. It allows for forgiveness of up to $17,000 of student debt. There are, however, several eligibility requirements you must meet in order to qualify for this loan. For more information about it and the application visit

The Closed School Discharge:

There are times when schools may close for reasons that a student may not have any control of. If your college or university has closed, your loan debt may already be forgiven. There is certain criteria that must be met in order to qualify for a discharge of your debt but to get a release of your obligation, you'll have to file an application and request a discharge of your financial obligation.

Total and Permanent Disability Loan Discharge:

There is also a forgiveness plan for those who may have experienced a permanent disability that makes you unable to work. Those who usually qualify for this type of relief could be veterans or those with severe and irreversible medical conditions that prevent them from working. To get more details on the eligibility requirements of this type of loan forgiveness visit


In most cases, bankruptcy cannot completely dissolve your responsibility to repay federal loans. However, in a few rare cases, if you can prove that repayment of the loan could pose an undue financial hardship on the borrower, forgiveness is possible. Cases where this has been approved are few and far between but if you have the right combination of difficulties you could get the entire loan forgiven.


There is also the case where you die prior to paying off your student loan. In most cases, once your next of kin presents proof of death, the loan is usually discharged with no consequences to your beneficiary.

Paying off student loans can often take years to do. However, with Obama's Student Loan Forgiveness Program many people will be able to get relief from the heavy burden of paying for a higher education.