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FAQ

What is Loan Forgiveness?

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

* Bureau of Labor Statistics (BLS), U.S. Department of Labor, Occupational Outlook Handbook 2022. BLS estimates do not represent entry-level wages and/or salaries. Multiple factors, including prior experience, age, geography market in which you want to work and degree field, will affect career outcomes and earnings. Herzing neither represents that its graduates will earn the average salaries calculated by BLS for a particular job nor guarantees that graduation from its program will result in a job, promotion, salary increase or other career growth.

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By selecting this button you agree to receive updates and alerts from Herzing University. Text HELP to 85109 for help, Text STOP to 85109 to end. Msg & Data Rates May Apply. By opting in, I authorize Herzing University to deliver SMS messages and I understand that I am not required to opt in as a condition of enrollment. By leaving this box unchecked you will not be opted in for SMS messages. Click to read Terms and Conditions and Privacy Policy.