Yes. The government will cancel any remaining balance on your federal student loans if you make payments for a certain amount of time through an income-driven repayment plan (IDR). Under current IDR plans, borrowers must make payments for either 20 or 25 years to have their loans canceled.
For more information on income-driven repayment, click here.
On Friday, March 27th, Congress passed the ‘‘CARES Act,’’ emergency legislation intended to meet urgent public health and economic needs in the face of the coronavirus crisis. Please visit our blog for the most up to date information on what this will mean for student loan borrowers.
Please understand that we do not provide legal advice about individual cases. This web site includes links to other resources for those who seek individualized legal advice or other help not offered here. This site is for people who already have student loans and want to know more about their options and rights.