Nelnet Student Loan Forgiveness Programs
Due to Nelnet’s partnership with the Department of Education, there are several Nelnet student loan forgiveness programs available to eligible borrowers.
Nelnet and Public Service Loan Forgiveness (PSLF)
Are you a borrower who works in the public sector or as a full-time volunteer in AmeriCorps or the Peace Corps? You might qualify for Public Service Loan Forgiveness (PSLF) if your loans are eligible.
To qualify for the PSLF program, you’ll need to make 120 on-time, consecutive payments on your eligible loans in addition to working for a PSLF-approved employer. But once you’ve met all the requirements, your loans could be forgiven entirely through the Department of Education.
Even if you’ve been denied for PSLF before, a new Temporary Expanded Public Service Loan Forgiveness (TEPSLF) could
help you get approved and become debt-free!
With FedLoan Servicing being the primary servicer for PSLF, all loans approved for the program will be moved to FedLoan as part of the forgiveness process.
Nelnet and Teacher Loan Forgiveness
Teacher Loan Forgiveness through Nelnet requires you to have eligible student loans and meet certain job-related requirements. But once these requirements are met, you might earn up to $17,500 towards your Direct Loans or FFEL program loans if you qualify.
For most borrowers, one of the toughest requirements for Nelnet Teacher Loan Forgiveness is teaching full-time at a low-income school or educational service agency for five consecutive years.
Educators who apply for Teacher Loan Forgiveness earn forgiveness through FedLoan Servicing, who is the primary servicer for the program. In addition, all remaining loans and their balances will be moved to FedLoan upon approval.
If you’re a teacher with a Perkins Loan, you might qualify for a Perkins Loan Cancellation if other requirements are met. You can learn more about a Perkins Loan Cancellation for teachers and other loan forgiveness programs for teachers
Nelnet and Total and Permanent Disability (TPD) Discharge
Nelnet specializes in its service offerings. One of these specialties is handling the Total and Permanent Disability (TPD) Discharge for disabled veterans and individuals through the Department of Education.
To qualify for a TPD Discharge, paperwork verifying your disabled status will need to be submitted. This can come from the Office of Veterans Affairs, your doctor, or the Social Security Administration. If your TPD Discharge is approved,
any balances remaining on your student loans can be forgiven completely.
The TPD Discharge gives disabled borrowers a way to have their student loans forgiven after meeting the program’s requirements. Loans eligible for a TPD Discharge include Federal Direct Loans, FFEL Loans, Perkins Loans, and TEACH grants.
Nelnet and Income-Driven Repayment Plans
To access certain Nelnet loan forgiveness programs, you might need to change your repayment plan for eligibility. Here are a few income-driven repayment plans that are available through Nelnet to consider.
- Income-Based Repayment (IBR) Plan
- Pay As You Earn (PAYE) Repayment Plan
- Revised Pay As You Earn (REPAYE) Repayment Plan
- Income-Contingent Repayment (ICR) Plan
- Income Sensitive Repayment (ISR) Plan
Income-driven repayment plans typically offer lower monthly payments, longer repayment periods, and may qualify you for one or more student loan forgiveness programs that can help you become debt-free.