Most people think that the only way to get out of a student loan is to pay it off. In large part, this is true, because even declaring bankruptcy will not get your student loans forgiven or forgotten. However, there are some ways to get your student loans dramatically reduced or even forgiven in their entirety without even hurting your credit.

Here are three ways that lenders recommend that you employ to help lighten the load of your student loans:

**Remember, in order for a lender to forgive a debt outright, you sometimes have to take some pretty dramatic measures. However, if these options do not look like something that will work for you, do not give up hope. There are many other avenues to loan forgiveness that we will cover in later installments.**

1. Major Volunteer Work

Joining Americorps, the Peace Corps or VISTA (Volunteers in Service to America) can all put a major dent in your debt. Americorps and VISTA each provide a stipend of over 4,000 dollars that can be leveraged directly at your debt, and the Peace Corps will let you work off up to 70 percent of your total debt, assuming your loans came from a list of common member lenders. Before you sign up, check with your lender to insure that they will accept these funds when you finish your service.

2. Military or Public Service

Students in the Army National Guard may be eligible for a 10,000 dollar credit toward their student loans. Veterans are also eligible for aid, as are other members of the military. If you are a federal officer or a peace officer like a sheriff or policeman, then you may also be able to work off a certain percentage of your loan debt each year. State employees in certain states who make below a certain annual salary may also be eligible for partial or total forgiveness.

3. Teaching or Practicing Medicine

Many law schools and medical schools will forgive all of your student loan debt if you spend a certain number of years in non-profit or public service oriented positions. Sometimes you will need to work with your lenders, and other times the school itself or your current employer will need to negotiate with your lender for you. Talk with all three parties – the lender, the school and your employer – to find out what your options are. The federal government will also cancel or defer indefinitely loans taken out by teachers who work in certain areas of the country or teach in certain disciplines.

These are just a few of your loan forgiveness options. You can also work directly with your lender to work out a payment plan that will work for you and keep you paying something (even if it is not a lot), which is the lender’s ultimate goal.