loan forgiveness
Borrower's balance erasure
Loan forgiveness is the cancellation of debt by a lender, releasing the borrower from the obligation to repay.
The term appears most often in discussions of student loans, where government programs may forgive remaining balances after a period of payments or public service: She qualified for loan forgiveness after ten years of teaching.
Critics call such programs bailouts; supporters call them relief.
- defaultPreset standard option
- financial hardshipSevere money difficulties
- debt cancellationElimination of owed money
- educational accessAbility to receive schooling
- fresh startOpportunity to restart unburdened
clean slate · second chance · free and clear · debt · principal · poverty alleviation · social equity · grace period · student loans · student debt · eligibility criteria · monthly payments · consumer protection laws · debt settlement · freedom · tuition · legislative acts · public service
- loansloans, lend, borrow, auto loans, bank loans
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- Bailoutsbailout, bank bailout, bank bailouts, rescue package, rescue fund
- College Policytuition caps, federal funding, state funding, financial aid, student aid
- debt reliefdebt relief, debt settlement, debt cancellation, debt negotiation, debt consolidation
- Education Policyeducation policy, education reform, education laws, education funding, education budget
loan forgivenessdebt collection
Pursuing owed payments
wage garnishment · debt bondage · defaulting · foreclosure · repossession
loan forgivenesscollections
Gathered groups of items
garnishment · penalty fees · legal action · asset seizure · bankruptcy filing