Student loan debt is one of the largest financial burdens facing residents of Daytona Beach and Volusia County. With the average Florida borrower carrying over $35,000 in federal student loans, understanding your forgiveness options is a financial necessity.
Public Service Loan Forgiveness (PSLF)
PSLF eliminates the remaining balance on Direct Loans after 120 qualifying monthly payments while working full-time for a qualifying employer.
Who Qualifies
- Employees of federal, state, or local government agencies
- Workers at 501(c)(3) nonprofit organizations
- Full-time employees (30+ hours per week)
- Borrowers on an income-driven repayment plan with Direct Loans
Income-Driven Repayment Forgiveness
| Plan | Monthly Payment | Forgiveness Timeline |
|---|---|---|
| SAVE | 5-10% of discretionary income | 20-25 years |
| PAYE | 10% of discretionary income | 20 years |
| IBR | 10-15% of discretionary income | 20-25 years |
| ICR | 20% of discretionary income | 25 years |
Teacher Loan Forgiveness
Teachers who work for five consecutive years in a low-income school may qualify for up to $17,500 in forgiveness.
Total and Permanent Disability Discharge
Borrowers who are totally and permanently disabled can have their entire balance discharged. If you are receiving SSDI benefits or SSI payments, the process may be expedited.
Borrower Defense to Repayment
If your school misled you about its programs, you may qualify for a full or partial discharge under the Borrower Defense rule.
Closed School Discharge
If your school closed while you were enrolled or within 180 days of withdrawal, you may be eligible for complete discharge.
Steps to Take Right Now
- Log in to StudentAid.gov and check your loan types and payment count
- Verify your repayment plan
- Submit employer certification annually if pursuing PSLF
- Avoid default
Explore our guides on the Child Tax Credit and SNAP benefits to maximize all available support.
See What Benefits You Qualify For
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Start Free Assessment →Frequently Asked Questions
Is forgiven student loan debt taxable?
Under current federal law, amounts forgiven through 2025 are not treated as taxable income. Florida has no state income tax.
Do private student loans qualify for any forgiveness programs?
No. All programs described apply only to federal student loans.
Can I qualify for PSLF if I work part-time at two qualifying employers?
Yes, if your combined weekly hours total 30 or more.
What if I already made payments under the wrong repayment plan?
Consolidating into a Direct Loan and switching to an IDR plan now ensures all future payments count toward forgiveness.
