Cancellation of all or some part of the educational loan under certain circumstances or conditions rendered by the federal government is what school loan forgiveness connote. Inshort, forgiveness is a practice in which an individual has to serve the public in order to waive off some or whole of the school loan.
In order to qualify for forgiveness certain eligibility criteria is set. This includes- serving the military, doing voluntary Work, teaching or practicing medicine in selected communities, etc. School targets student loan forgiveness to obtain their views on education. This will help them in this, stable employment in certain occupations.