Under certain conditions, you may have all or part of your Stafford and Perkins loans forgiven or cancelled. You do not have to repay the amounts that are forgiven. Loan forgiveness programs are available to certain attorneys, social workers, child care providers, nurses, and teachers.

The IRS considers debts that are forgiven as income. You may have to pay income taxes on the amounts, depending on your total income in the year the debts are forgiven. Loan amounts can be cancelled gradually, which minimizes the impact of taxes.

Loan Forgiveness Programs Quick Reference
TitleSummary
Loan Forgiveness for District Attorneys and Indigent Legal Services AttorneysDistrict Attorney and Indigent Legal Services Attorney Loan Forgiveness Program awards are being offered to retain experienced attorneys employed as District Attorneys, Assistant District Attorneys or Indigent Legal Services Attorneys throughout New York State
Loan Forgiveness for Licensed Social WorkersAwards are made annually to social workers licensed to practice in New York State who have at least one year of prior employment working in a critical human service area.
Loan Forgiveness for Nursing Faculty Licensed Registered Nurses teaching as nursing faculty or adjunct clinical faculty may have portions of their student loan balances paid.
Loan Forgiveness for TeachersCertain teachers can have a portion of their Federal Stafford loans forgiven.