Loan Forgiveness Programs

Murray, KY – The 2007 College Cost Reduction and Access Act includes provisions that both reduce and erase financial debt for some university graduates. Students working in the public sector can sign up for a program that forgives their debts after ten years. Murray State University Student Financial Aid Officer Tony James says the measure was started because of the large debts many students incur these days.

"The income levels that they have are not even enough to substain the large debt that they have. So they're starting out at such a disadvantage, the government wanted to help out the best they could."

Those outside the public sector can also have their debts reduced through the Income Based Repayment (IBR) program. James says IBR focuses on workers with lower incomes and forgives debts after 25 years. For more information on how to participate in the program, visit