Under what circumstances will the Government cancel an Educational Loan?
There are a number of certain circumstances the federal government will cancel all or part of an educational loan, called loan cancellation is called Loan Forgiveness.
In order to qualify for a Loan Forgiveness, a graduating student must generally meet any one of the following;
1. Perform volunteer work.
2. Perform military service.
3. Teach or practice medicine in certain types of communities.
4. Meet other criteria specified by the forgiveness program.