Do I qualify for student loan forgiveness?

If you qualify, student loan forgiveness can provide a helping hand in digging your way out of student loan debt. The key phrase, however, is if you qualify.

So, who actually qualifies for student loan forgiveness? There are a number of different pathways toward securing this coveted debt respite, and each come with their own set of strict qualification criteria.

Are you on an income-driven repayment (IDR) plan?

"If borrowers who enrolled in IDR plans have a loan balance at the end of their 20- or 25-year loan term, the government forgives the remaining amount of debt," said Yahoo Finance. The Department of Education offers a handful of different IDR repayment plans, designed to lower monthly payments based on income and family size.

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This option is only available for federal student loans, and you have to make it through the requisite number of payments until you see that eventual loan forgiveness. The next steps after forgiveness should take place automatically, erasing any amount you had not yet paid.

Do you work for a qualified public service employer?

Another common pathway to student loan forgiveness is Public Service Loan Forgiveness (PSLF), an option available to borrowers with federal Direct Loans who work in public service jobs, such as for the government or a non-profit.

To be eligible for PSLF, you must "work full time at a qualifying organization and make 120 on-time loan payments," after which forgiveness is granted, said LendingTree. Further, "those payments must be under a qualifying repayment plan, such as an IDR plan or extended repayment plan."

Do you work full-time as a teacher in a low-income school?

"If you're a teacher, you might be able to ditch up to $17,500 of your federal student loans," said Ramsey Solutions, a personal finance blog — but again, you will have to jump through a number of hoops first.

This includes having Direct Loans or Federal Family Education Loans that you took out before the end of your requisite teaching time and on which you have never had an overdue balance. Plus, you must "teach full time for five academic years in a row," specifically for "low-income students at an educational service agency or at the elementary, middle or high school level," said Ramsey Solutions.

Do you have federal Perkins loans?

If you still have a balance remaining on the no-longer-issued federal Perkins loans, you may find a path toward forgiveness, potentially getting "up to 100% of your Perkins loan canceled," through the Perkins loan cancellation and discharge program, said LendingTree. Generally, a "certain percentage of student loan debt" is forgiven through this program "after every year of service."

This option is available to a wide range of professions "under certain conditions," including educators, law enforcement, first responders, attorneys, military members and health care workers, among others, said Business Insider. "Most recipients work full time for at least one year," said LendingTree, and "additional eligibility requirements vary by profession but often involve working in a high-need or critical shortage area."