Loan Forgiveness
/ˈloʊn fərˌgɪvnəs/
Definitions
- (n.) The partial or total cancellation of a borrower's obligation to repay a loan, usually by a lender or government authority.
The student received loan forgiveness after meeting all the qualifying criteria.
Forms
- loan forgiveness
Related terms
See also
Commentary
Loan forgiveness provisions often depend on specific eligibility rules and may have tax implications for the borrower.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.