4 Ways to Have Your
Student Debt Wiped Out .
1. Income-Driven
Repayment Plans.
Four federal income-driven
repayment programs — ICR, IBR,
PAYE and REPAYE — offer student
loan cancellations after 20 to 25 years.
2. Career-Based
Student Loan Forgiveness.
Military, educators, lawyers and healthcare
professionals who work in low-income areas
can often wipe out most — if not all — of their
debt through both state and federal programs.
3. Bankruptcy.
In extreme cases in which
a borrower can prove
"undue hardship," student debt could
possibly be erased in bankruptcy court.
4. Borrower Defense to Repayment.
A borrower who can prove that
their for-profit university broke
state laws can have their student
debt wiped out under this program