Federal government offers student loan forgiveness programs
The federal government may forgive all or part of your student loans if you meet certain requirements.
The forgiveness options for federal student loans, according to the Kentucky Higher Education Assistance Authority (KHEAA), include:
For complete details on these and other programs, visit www.ed.gov.
One thing to remember is that the Internal Revenue Service counts the amount forgiven as income. You should talk with a tax professional to understand the impact it may have on your taxes.
KHEAA is the state agency that administers Kentucky’s grant and scholarship programs, including the Kentucky Educational Excellence Scholarship (KEES). The agency also provides financial literacy videos at http://itsmoney.kheaa.com and free copies of “It’s Money, Baby,” a guide to financial literacy, to Kentucky schools and residents upon request at .
For more information about Kentucky scholarships and grants, visit www.kheaa.com; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926, ext. 6-7214.