Loan Remission
Loan remission is when a government student-aid program cancels part of what you still owe after you meet set conditions. You borrowed the money first; later, a portion of the debt is written off, so you repay less. The rules vary by program. Some require you to finish school on time. Others forgive debt if you work in certain jobs after graduation, such as in underserved communities. Private bank student lines of credit usually do not qualify.
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