Is it possible to have a student loan forgiven or discharged?

Yes, it is possible to have a student loan forgiven or discharged under certain circumstances. There are several programs available for borrowers who are struggling to make their student loan payments, including:

1. Public Service Loan Forgiveness (PSLF) This program is available to borrowers who work in a qualifying public service job and make 120 qualifying payments. After meeting the requirements, the remaining balance of their Direct Loans will be forgiven.

2. Teacher Loan Forgiveness This program is available to teachers who work in qualifying schools for at least five years. The amount of forgiveness depends on the subject taught and the level of the students.

3. IncomeDriven Repayment Plans These plans allow borrowers to make payments based on their income and family size. After making payments for a certain period of time (usually 2025 years), the remaining balance will be forgiven.

4. Total and Permanent Disability Discharge Borrowers who have a permanent disability that prevents them from working and repaying their loans may be eligible for discharge.

5. Bankruptcy Discharge While it is difficult to have student loans discharged through bankruptcy, it is not impossible in certain cases. Borrowers must prove that repaying the loans would cause undue hardship.

It is important to note that these programs have specific eligibility requirements and may not be available to all borrowers. It's best to consult with a student loan expert or financial advisor to determine the best course of action for your individual situation.