Private Student Loan Forgiveness: What You Should Know

The College Investor Audio Show · Nov 19, 2018 · 5m

Private student loan forgiveness is often promised, but the reality is far more complicated. Unlike federal student loans, which offer forgiveness programs for public service workers and income-driven repayment options, private student loans come with few—if any—paths to cancellation.

For millions of borrowers, this means struggling with high-interest debt that doesn’t qualify for relief. Private lenders, including banks and fintech companies like SoFi and Earnest, hold an estimated $130 billion in outstanding student loans, yet offer little flexibility when borrowers face financial hardship…