How Does Student Loan Forgiveness work

+1 vote
asked Apr 23, 2017 in Credit by kintuy (130 points)
I have student loans that I cannot afford to pay off and wanted to look into getting a student loan forgiveness.

If I get student loan forgiveness does it mean I don't have to pay back anymore of my Student Loan?

1 Answer

0 votes
answered Apr 23, 2017 by Shawn (99,990 points)
With a Student Loan Forgiveness program you'll be required to make at least 120 payments. That's 10 years of payments. So no you won't get all your debt wiped away and if you haven't paid 10 years of payments you have a ways to go.

See if you can work some odd jobs to help pay down the debt otherwise it can affect your credit score and ability to get a mortgage, or other loan in the future.

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