Collectively, the residents of Tennessee owe $27.8 billion in student loan debt. Compared to some of the other states, this is a rather staggering figure. Unfortunately, when it comes to Tennessee loan forgiveness programs, the residents of this state don’t have any options. However, there are other federal programs that can help. Continue reading to learn more.
What Qualifies You for Student Loan Forgiveness?
The requirements for student loan forgiveness vary from program to program. For now, let’s stick to the most common option – the Public Service Loan Forgiveness (PSLF) program.
To qualify for PSLF, you must be working at a public service position (for an eligible employer). During the course of your employment, you must make 120 monthly payments on a Direct Loan, after which, the outstanding debt will be forgiven.
Take a Look at Federal Student Loan Forgiveness Programs
There are several federal student loan forgiveness programs that are offered to all states – even Tennessee.
You can view the complete list of available programs on our detailed resource on student loan forgiveness programs and see if you qualify for them.
Tennessee Student Loan Forgiveness Programs
Tennessee is one of the few states in the US that does not have any student loan forgiveness program for its residents.
Don’t give up, though – as we mentioned earlier, there are several other federal loan forgiveness programs (apart from the PSLF) that you can test your luck with.
For example, if you’re an educator, you can test out your luck with programs offering student loan forgiveness for teachers.
Similarly, if you’re a nursing professional, there are options that offer student loan forgiveness for nurses.
Besides, there are income-based programs to consider as well.
Give them all a shot before giving up and picking the hard route.