Student loan forgiveness is a process that provides relief to borrowers by either reducing their overall loan balance or eliminating it entirely. In certain circumstances, a borrower may be eligible for complete loan forgiveness which will completely erase the outstanding loan debt. Additionally, some lenders may offer partial forgiveness, which can reduce the amount owed in monthly payments, provide interest rate reductions, or extend repayment periods. To be eligible for student loan forgiveness, borrowers must meet specific qualifications set forth by the lender and may include employment in a public service field, military service, economic hardship or other special cases.