Federal Student Loan Forgiveness

Another method of eliminating your federal student loan debt is by debt forgiveness.  Depending on the type of federal student loan forgiveness, sometimes, the forgiveness is taxable and sometimes it is not. There are a variety of ways to obtain a federal student loan debt forgiveness, including:

  • Teacher Loan Forgiveness. If your federal student loans were disbursed after 1998 and you teach full-time in an eligible elementary or secondary school for five consecutive years, you may be able to have as much as $17,500 of your federal student loans forgiven.
  • Public Service Loan Forgiveness. If you are employed in certain public service jobs and have made 120 payments on your federal direct loans (including consolidated loans), the remaining balance that you owe may be forgiven – tax free!
  • Income-Driven Repayment Plan Forgiveness. If you are in an Income-Driven Repayment Plan, such as the IBR Plan, ICR Plan, PAYE Plan or the REPAYE Plan, after your repayment period, any remaining loan balance is forgiven if your federal student loans aren’t fully repaid at the end of the repayment period.  Periods of economic hardship deferment and periods of repayment under certain other repayment plans will count towards your total repayment period.  Whether you will have a balance left to be forgiven at the end of your repayment period depends on a number of factors.

Please keep in mind that every student loan matter is different. If you have questions about your student loans or if you like to know if your federal student loans qualify for a loan forgiveness, and you would like to schedule a no-cost consultation, please contact our office by completing the form on this website or by calling us at 954-920-5355.


Leiderman Shelomith Alexander + Somodevilla, PLLC

Fort Lauderdale

2699 Stirling Road, Suite C401
Fort Lauderdale, FL 33312

T. 954-920-5355 | F. 954-920-5371


2 South Biscayne Blvd, Suite 2300
Miami, FL 33131

T. 305-894-6163 | F. 305-503-9447

© 2020 Leiderman Shelomith Alexander + Somodevilla, PLLC. All Rights Reserved. | Law Firm Essentials by PaperStreet Web Design

The hiring of an attorney is an important decision that should not be based solely on advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. The information contained on this website does not constitute legal advice and is intended for general informational purposes. Also, the information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney client relationship. Also, the information contained on this website is not intended to be an advertisement and any unauthorized use of the information is at the user's risk. Reproduction, distribution, republication and retransmission of any material contained on this website is prohibited without the express written consent of Leiderman Shelomith Alexander + Somodevilla, PLLC.