Answer
The terms forgiveness, cancellation, or discharge mean roughly the same thing, but they are used differently. They mean that you are no longer required to repay some or all of your loan.
If you’re no longer required to make payments on your loans due to your job, this is generally called forgiveness or cancellation.
If you’re no longer required to make payments on your loans due to other circumstances, such as a total and permanent disability or the closure of the school where you received your loans, this is generally called discharge.
It’s important to remember that outside of the circumstances that may qualify you to have your loans forgiven, canceled, or discharged, you remain responsible for repaying your loan—whether or not you complete your education, find a job related to your program of study, or are happy with the education you paid for with your loan. Even if you were a minor (under the age of 18) when you signed your promissory note or received the loan, you are still responsible for repaying your loan.
For more in-depth information of loan forgiveness, Please go to: https://studentaid.gov/manage-loans/forgiveness-cancellation
If you’re no longer required to make payments on your loans due to your job, this is generally called forgiveness or cancellation.
If you’re no longer required to make payments on your loans due to other circumstances, such as a total and permanent disability or the closure of the school where you received your loans, this is generally called discharge.
It’s important to remember that outside of the circumstances that may qualify you to have your loans forgiven, canceled, or discharged, you remain responsible for repaying your loan—whether or not you complete your education, find a job related to your program of study, or are happy with the education you paid for with your loan. Even if you were a minor (under the age of 18) when you signed your promissory note or received the loan, you are still responsible for repaying your loan.
For more in-depth information of loan forgiveness, Please go to: https://studentaid.gov/manage-loans/forgiveness-cancellation