Is this forgiveness truly possible?
In reality it would be too good to be true if the loans were to be forgiven the moment one enrolled. There are many different programs and forgiveness types. however, the forgiveness programs are spread out monthly over a term of 120/240/300 months based on qualifications.
At this point, the objective is to have the loans paid off and that is why the programs are stretched out over a period of time to give you a chance to make payments that are fair to your situation.
Why would the government forgive my loans?
This is because student loan debt is at 1.5 trillion dollars nationwide and it is the only form of debt that not even bankruptcy can resolve.
Federal student loans are a huge problem in America.
Some students either could not complete school or never truly found themselves using the degrees they pulled an obscene amount of loans for. Others are in their field, but are not compensated properly. Due to these situations becoming more of a common denominator in the realm of student loans, the federal government made these forgiveness options available.