Guide to Student Loan Forgiveness in Indiana (IN)

Q: What type of student loan qualifies for forgiveness in Indiana?

The type of student loan that qualifies for forgiveness in Indiana will vary depending on the loan forgiveness or repayment assistance program. Most national forgiveness programs, such as PSLF and Teacher Loan Forgiveness, offer forgiveness for federal student loans — private student loans are not eligible.

Q: Can you get your student loans completely forgiven in Indiana?

Indiana does not offer a student loan forgiveness program that will completely forgive your student loans. However, you might earn complete forgiveness from a national program, such as Public Service Loan Forgiveness. Federal income-driven repayment plans can also end in loan forgiveness after 20 or 25 years of repayment.

Guide to Student Loan Forgiveness in Indiana (IN)

Rebecca SafierUpdated October 16, 2023

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If you’re a student loan borrower in the Hoosier State, you might have options to get your education debt forgiven. According to the Education Data Initiative, the average student debt in Indiana is $32,874 per borrower. If you’re one of these debt-burdened graduates, you may have options for student loan forgiveness or repayment assistance. Read on for a closer look at student loan forgiveness in Indiana.

Does Indiana Have Any Student Loan Forgiveness Programs?

In terms of student loan forgiveness programs, the state of Indiana offers the Justice Richard M. Givan Loan Repayment Assistance Program. This student loan assistance program is available to qualifying lawyers who work in nonprofit organizations. While Indiana doesn't offer student loan forgiveness programs for nurses, teachers, or other professionals at this time, you might find student debt relief with a national program, such as Teacher Loan Forgiveness or the Nurse Corps Loan Repayment Program. Read on for a closer look at these student loan forgiveness programs, including how much assistance they offer and how to qualify.

Justice Richard M. Givan Loan Repayment Assistance Program

Earning your law degree can mean taking on a significant amount of student loan debt. According to the Education Data Initiative, the average law student who took out loans graduates with a $160,000 debt balance. Debt of this magnitude can be difficult to pay off, especially if you opt to work in a nonprofit organization after graduation. The Justice Richard M. Givan Loan Repayment Assistance Program offers financial assistance to Indiana lawyers who work in qualifying civil legal aid organizations. To qualify for this program, you must also be licensed to practice in Indiana and be an active member of the Indiana Bar Association. Funding for this program can fluctuate, but the maximum annual award is currently $5,000. Lawyers can apply for student loan assistance every year as long as they still owe student debt. Over time, this assistance could help you get your debt balance down to zero. Recommended: How to Pay Off Student Loans

National Student Loan Forgiveness Programs

While Indiana doesn’t offer any other student loan forgiveness programs, that doesn’t mean you’re out of options. Here are a few of the forgiveness programs that are available nationwide.

Public Service Loan Forgiveness

The Public Service Loan Forgiveness (PSLF) Program will forgive your entire federal student loan balance after 120 qualifying payments and 10 years in public service. You can work in almost any role, as long as you’re employed by an eligible organization. Qualifying workplaces include not-for-profit organizations and federal, state, local, or tribal government organizations.

Teacher Loan Forgiveness

The Teacher Loan Forgiveness program offers up to $17,500 in student loan assistance after five consecutive years of teaching in a low-income school. Teachers of science, math, or special education can get up to $17,500 toward paying off their loans, while teachers of other subjects can get up to $5,000.

Nurse Corps Loan Forgiveness

The Nurse Corps Loan Forgiveness Program will pay up to 85% of your education debt if you’re a registered nurse, advanced practice registered nurse, or nurse faculty. You must work in a critical shortage facility (or an eligible school if you’re nurse faculty) and have attended an accredited nursing program in a U.S. state or territory. Recommended: Guide to Medical School Loan Forgiveness Programs

National Health Service Corps (NHSC) Loan Repayment Assistance

This program offers up to $50,000 to licensed healthcare providers, including doctors, dentists, and behavioral clinicians. To qualify for the NHSC program, you must agree to work for two years at a qualifying site.

Where to Find Student Loan Assistance

You can find additional student loan forgiveness programs by scouring the Federal Student Aid website and checking out our student loan forgiveness guide. There are student loan assistance programs available for a variety of professions, including nurses, doctors, dentists, pharmacists, lawyers, teachers, military, and more. Some companies are also offering student loan assistance to employees. This benefit works like a 401(k) match — a company will match a percentage of your student loan payments up to a maximum amount per year. If you’re job searching, it might be worth prioritizing companies that will help pay off your student loans. Finally, you could get your federal student loans discharged in certain circumstances, such as total and permanent disability, closed school discharge, or borrower defense to repayment, which is available to students who were defrauded by their schools.

The Takeaway

The state of Indiana offers student loan assistance to Indiana lawyers working in nonprofit organizations. If you’re not a lawyer, though, that doesn’t mean you’re out of options. You could explore national student loan forgiveness programs, such as PSLF or Teacher Loan Forgiveness, and if you’re open to switching jobs, you might look for a company that will help you with student loan repayment. Refinancing student loans could be a strategic move to help with student loan repayment, as well. Pursuing a lower interest rate through refinancing could allow you to pay your student loans off sooner, as long as you don’t need access to federal plans and programs. If you’re interested in student loan refinancing, Lantern can help you find and compare competitive student loan refinancing rates.

Frequently Asked Questions

What type of student loan qualifies for forgiveness in Indiana?

What is the income limit for student loan forgiveness in Indiana?

Can you get your student loans completely forgiven in Indiana?

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About the Author

Rebecca Safier

Rebecca Safier has nearly a decade of experience writing about personal finance. Formerly a senior writer with LendingTree and Student Loan Hero, she specializes in student loans, financial aid, and personal loans. She is certified as a student loan counselor with the National Association of Certified Credit Counselors (NACCC).

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