I'm going to be a bearer of bad news. There are only a few kinds of legitimate loan forgiveness programs currently available. Generally, they are for people working in public sector positions (think government roles, public servants, etc) and the other general is for teachers. Both require you to pay 120 on time payments (that's 10 years worth) before the balance of the loans are forgiven.
The only other "loan forgiveness" programs are ones based on an income-based-repayment plan. In that case, if after an agreed-upon time frame you still have not paid off your student loans (assuming you have made all your payments without missing any), the balance will be "forgiven". However, the fine print to this arrangement is that amount that are "forgiven" can be counted as income for the year they are dismissed. If that's the case, whatever loan amount that you are excused from can be used to calculate the income taxes you owe to the government.
My suggestion: don't take out student loans with the idea that they'll be forgiven. Unless there is a drastic change in the government/ education sector of the law, my guess is that student loans will always need to be paid for careers outside of public/teaching sectors.
If you want to read more about it, you can check here: https://studentloanhero.com/featured/is-student-loan-forgiveness-legit/
Also, beware of loan forgiveness scams! There are A LOT OF THEM. They will take your money, you won't be able to get it back, and you won't have any fewer student loans at the end of the ordeal, unfortunately.
Last updated Sep 19 at 11:10