What are the eligibility criteria for student loan forgiveness?

Student loan forgiveness occurs when the remaining loan balance is removed or cancelled, leaving the borrower with no further legal obligation to repay it. In order to be eligible for student loan forgiveness in Wisconsin, borrowers must meet certain criteria. The first criterion is that the borrower must have made steady payments on his or her loans for at least 20 years. During this time, the borrower must have kept his or her loans in good standing, meaning that there were no missed payments or defaults. The second criterion is that the borrower must have taken out the loan in the first place for a qualifying purpose. This means that the loan must have been taken out to fund undergraduate, graduate, or professional degrees. The loan must also have been taken from an accredited Wisconsin college or university. The third criterion is that the borrower must be a Wisconsin resident. This must be verifiable by one of the following forms of documentation: a driver’s license, a Wisconsin ID card, a voter registration document, or a residential lease. Finally, the borrower must be willing to provide evidence of financial need. This evidence must be submitted in the form of a recent tax return or other proof of income. If all of these criteria are met, then the borrower may be eligible for student loan forgiveness in Wisconsin.

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What are the eligibility criteria for student loan forgiveness?

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