In some cases, you might be able to get your federal student loans cancelled. The charts below illustrate the conditions that would allow you to cancel part or all of your federal loans. While most of these opportunities could be used to forgive both undergraduate and graduate loans, you'll notice that they are available only for the federal loan programs, not private programs. Check with your Financial Aid Office, as well as potential employers, about any additional loan forgiveness benefits that might be available. Visit the Department of Education for more information about loan forgiveness programs at: http://studentaid.ed.gov/
| Perkins Loan Cancellation Conditions | Amount Forgiven |
| Full-time teacher in a designated elementary or secondary school serving students from low income families | Up to 100% |
| Full-time special education teacher (includes teaching children with disabilities in a public or nonprofit elementary or secondary school) | Up to 100% |
| Full-time qualified professional provider of early intervention services for the disabled | Up to 100% |
| Full-time teacher of math, science, foreign languages or other fields designated as teacher shortage areas | Up to 100% |
| Full-time employee of a public or nonprofit child/family services agency providing services to families from low-income communities | Up to 100% |
| Full-time nurse or medical technician | Up to 100% |
| Full-time law enforcement or corrections officer | Up to 100% |
| Full-time staff member in an education component of a Head Start program | Up to 100% |
| Americorps VISTA or Peace Corps volunteer | Up to 100% |
| Service in the US Armed Forces | Up to 50% in areas of hostilities or imminent danger |
| Stafford/Direct Loan Cancellation Conditions | Amount Forgiven |
| Full-time teacher in a designated elementary or secondary school serving students from low income families (additional funds may be available for math, science and special education teachers) | Up to $5000 of the aggregate loan amount that is outstanding after completion of the fifth year of teaching |
For New Hampshire residents, the Workforce Incentive Program (WIP) repays a certain percentage of education loans after working for the required number of years in specific shortage areas (typically education and nursing). Since shortage areas and the repayment amounts change every year, you should contact the NH Department of Education for more current information at www.nh.gov/postsecondary/financial/.
