Private Student Loan Forgiveness: Understanding Your Options
Looking for private student loan forgiveness? Private loans don't qualify for federal programs like PSLF, but that doesn't mean you're out of options.
Depending on your situation, there may be ways to reduce, settle, or potentially eliminate your private student loan debt.
Can Private Student Loans Be Forgiven?
There is no broad government forgiveness program for private student loans.
However, some borrowers may qualify for other forms of debt relief. Depending on your loan, financial situation, and account status, this can include:
What may be available depends on the details of your loan.
What About Sallie Mae, Navient, or Other Private Lenders?
Private student loan relief isn't limited to one lender. If your loan is with Sallie Mae, Navient, Discover, SoFi, or another private lender, your options depend on your specific circumstances.
A private loan also doesn't become eligible for federal forgiveness simply because you work in public service or have made payments for a certain number of years.
Find Out What May Apply to You
Rather than trying to determine your eligibility from a general list, start with your actual loan information.
Tell us about your loans
Share your approximate balance, payment, lender, and current situation.
Review your options
We'll help you understand which forms of relief may be relevant to your circumstances.
Decide what makes sense
If an appropriate option is available, you'll have the information you need to decide whether to move forward.
Private vs. Federal Student Loan Forgiveness
May qualify for programs such as PSLF, income-driven repayment forgiveness, or other federal discharge programs.
Do not qualify for those federal programs, but may have other forms of relief available through the lender, negotiation, debt resolution, or applicable legal protections.
If you have both types of loans, the strategies are usually different.
Frequently Asked Questions
Answers to the private student loan forgiveness questions borrowers ask us most often.
Can private student loans actually be forgiven?
Does PSLF apply to private student loans?
Can Sallie Mae loans be forgiven?
What if my private student loans are in default?
Does bankruptcy eliminate private student loans?
How much does the eligibility check cost?
See What Options You May Have
If you're struggling with private student loan debt, find out whether you may qualify for a relief option.