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CantGetThereFromHere CantGetT...
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How to be forgiven student loan debt?

If you've already consolidated your student loans and no matter how many years you pay, the interest addition never makes the balance go down, is there any way to be forgiven this loan debt?
Please help. I'm past middle age, a social worker, and these student loans make me think that taking the gas pipe is the only solution to get out from under.
bchbaby926 by bchbaby9...
Member since:
May 28, 2007
Total points:
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Best Answer - Chosen by Asker

As far as I know the only way to be forgiven a student loan is to prove total disability, meaning you are unable to work at all. As the other poster mentioned, not even filing bankruptcy will wipe out a student loan. I have a friend trying to get his forgiven - he hasn't worked in 4 years but all they keep doing is giving him extenstions. If you can prove financial hardship you may be able to do the same - just keep getting extensions. This at least "freezes" the balance - during the extension no interest is charged. Not sure of your situation but maybe this would buy enough time to save some money to pay it off.

Good Luck!
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Thanks for taking the time to answer. I knew the info, but appreciate your effort and consideration.

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Other Answers (6)

  • Sharon M by Sharon M
    Member since:
    January 02, 2007
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    19,719 (Level 6)
    I'd love an answer to this as well. I have been looking for a job for months now and it doesn't look good. And my loans are already in default. There has to be a way.
    • 1 person rated this as good
  • justagrandma by justagra...
    A Top Contributor is someone who is knowledgeable in a particular category.
    Member since:
    September 18, 2006
    Total points:
    110,577 (Level 7)
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    A Top Contributor is someone who is knowledgeable in a particular category.
    No, surely you make enough money to pay back your debt.
    Do you pay more than you have to each month? Is this just part of a pattern of debt that you are having difficulty with?
    You may need more debt help than with just this debt.
    Why, when so many have a school debt, and I did too by the way, should you be forgiven? You got the education, you have used it, fair is fair, pay it back.
    • 4 people rated this as good
  • tikababy by tikababy
    Member since:
    May 02, 2006
    Total points:
    13,226 (Level 6)
    Have you tried to transfer it to a low interest credit card? It is an option. Those don't go away.
  • Bill W - Year-Round-Hockey 【ツ】 by Bill W - Year-Round-Hockey 【ツ】
    Member since:
    April 13, 2007
    Total points:
    16,030 (Level 6)
    Try calling those debt/bankruptcy aid firms. I see their ads around all the time.
  • rachel by rachel
    Member since:
    October 27, 2006
    Total points:
    5,892 (Level 5)
    even bankruptcy doesn't wash out student loan debt.... good luck
  • redgator40 by redgator...
    Member since:
    January 29, 2007
    Total points:
    21,145 (Level 6)
    student loan debts can never be forgiven. there are actually considered good credit so you really need to find a way to pay. the loan rates are very minimal considering other rates. try calling your lender and get a deferment or forbearance.

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