SOUTH CAROLINA — The federal government can forgive all or part of federal student loans if borrowers meet certain conditions. Forgiveness options, according to the KHEAA, include:

• Public Service Loan Forgiveness: Employees of a US federal, state, local, or tribal government or nonprofit organization are eligible for loan forgiveness after making 120 months of qualifying payments. For more details, visit

• Extended Utility Loans Forgiveness: Until October 31, borrowers can receive credit for prior repayment periods that would otherwise not qualify for the PSLF. For more details, visit

• Teacher Loan Waiver: To qualify, you must teach at least five full years at a low-income school in an eligible district. Depending on your field, you could have up to $17,500 in canceled student loans. For more details, visit

• Nursing loan waiver: You must be at least a registered nurse and agree to work full-time for at least two years in a critical shortage facility. If you stick to your agreement, 60% of your loan balance will be forgiven. Another 25% will be forgiven if you work a third year. Nurses who teach at an accredited nursing school may also qualify. For details, visit

One thing to remember is that the Internal Revenue Service may consider the reversed amount as income. You should speak with a tax professional to understand the impact this may have on your taxes.


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