Student loan debt is an epidemic millions of students have to endure. In fact, stats show there are 44.2 million Americans living with student loan debt.
Forbes calls student loan debt the $1.3 trillion crisis. That’s about $37,172 per graduate for the class of 2016, which is a 6% increase from 2015.
Student loan help is big business for lenders and debt consolidation businesses. Americans are swimming in debt up to their eyeballs with nowhere to run.  Those who don’t know their options find themselves in a very tough position.
If you’re one of the unfortunate souls dealing with a mass amount of student loan debt, then continue reading!

Opt for Teacher Loan Forgiveness

This is an excellent choice if you’re a full-time teacher, or if you’ve taught for five years in a row in certain secondary and elementary schools. It’s also available to teachers who work in education service agencies that help families with low incomes.
There are various other qualifications you have to meet. You may be eligible for a debt forgiveness of up to $17,500.

Consider Public Service Loan Forgiveness

Those who work full-time for non-profit or government organizations may qualify for forgiveness. What’s great about this option is it removes all of your remaining balance owed.
But to qualify, you have to make at least 120 qualifying payments. That’s about 10 years worth of payments.

Check Out Income-Driven Repayment Plan

Anyone who’s making payments under an income-driven repayment plan may be eligible to have their remaining student loan balance forgiven. Of course, you’ll first have to make a certain amount of payments.
It may be easier to qualify if your remaining balance is higher than your annual income. Or if it’s close to it.

See the Military Service Options

Joining the military comes with various benefits. So it’s no surprise student loan debt forgiveness is one of the most popular ways to get debt relief. As a show of appreciation for serving your country, the U.S. Department of Education and United States Department of Defense offers special student loans.
If you apply for these, you can get certain benefits and repayment options not offered to others. For example, there are caps on the interest rates placed by the Servicemembers Civil Relief Act.
There are other types interest rate relief and repayment programs available as well.

Find Out About AmeriCorps

If you’ve completed a term of national service, you may qualify for the benefit known as the Segal AmeriCorps Education Award. You can use this benefit to repay student loans that are qualified under AmeriCorps.
This isn’t an all-inclusive list of student loan help options. But when all else fails, you can always file for bankruptcy.

Bankruptcy: An Alternative to Student Loan Help

If you’re battling student loan debt and have no options to relieve it, consider filing for bankruptcy. At Zolman Law, we offer representation for folks in this situation.
We can help you with the filling to ensure it’s done properly. This is ideal for anyone with the IRS and debt collectors breathing down their necks.
If you’re interested in this option, contact us for a free consultation!