Sample application letter to apply for student loan forgiveness due to unemployment or further studies. You can also use the below application for an extension in the loan payment date and period.
Request letter for Student Loan Forgiveness
Dear [Recipient’s Name],
I am writing to request forgiveness and remission of my student loan that I obtained through a mutual agreement with the faculty of the Electrical Engineering Department at Chicago State University.
As you may recall, I enrolled in the Electrical Engineering Course under registration number [Registration Number] during [Session/Date]. I agreed to repay the tuition fees in the form of a university loan after graduation. However, I now face a significant hurdle that may hinder my ability to repay the loan.
I am eager to pursue a Master’s degree in my field of study immediately after completing my graduation. Pursuing further studies would mean that I would not be able to work and earn a proper income to repay the loan. In this regard, I kindly request your understanding and consideration in forgiving and remitting the loan on which I agreed.
I assure you that I hold the value of education in high regard and recognize the value of repaying debts. However, my current circumstances will not permit me to fulfill this obligation. I would be immensely grateful if you would consider my situation and grant my request.
Thank you for your time and attention to this matter.
Sincerely,
[Your Name]
Apply for Student Loan Forgiveness
Dear [Recipient’s Name],
I am writing to appeal for the forgiveness of the student loan that I obtained during my enrollment at the University of Engineering and Technology. I was enrolled in a Bachelor’s degree program and was entitled to a loan equivalent to my tuition fee, which I had to repay after graduation.
Unfortunately, since my graduation, I have been unable to secure proper employment, and I am struggling to make ends meet. As a result, I have been unable to repay the loan, and I have received letters and reminders from your university for many weeks. I am tired of these constant reminders, and they have added to my financial burden.
Moreover, the employment opportunities in my field are limited, and the income generated by my peers is meager. Given these challenges, I kindly request that you consider forgiving my loan.
I understand the value of education and the importance of repaying debts. However, my financial situation has become dire, and I am unable to meet my obligations. I hope you will take my application under kind consideration and forgive my loan. This would provide me with the opportunity to start afresh and work towards securing a better future.
Thank you for your time and attention to this matter.
Sincerely,
[Your Name]
Application Letter by Student Loan Waived Off
Dear [Recipient’s Name],
I am writing to request that you consider waiving my student loan, which I obtained during my studies at the University of Lahore. I am currently enrolled in the BBA program, and my second-last semester is about to begin. Unfortunately, I am unable to pay off the loan, and I am struggling to meet my financial obligations.
I understand that student loans are an essential part of financing one’s education. However, given my current financial situation, I am unable to fulfill my obligation. I kindly request that you take my circumstances into account and waive my student loan.
I assure you that if given the opportunity, I will work hard to achieve financial stability and pay it forward by contributing towards the development of society. Your support would be an immense help to me and would allow me to focus on completing my studies without the added burden of debt.
Thank you for your attention to this matter. I am grateful for any assistance you may provide.
Sincerely,
[Your Name]
Sample Student Loan Forgiveness Letter in Mail
Dear [Recipient’s Name],
I am writing to request forgiveness of the student loan that I obtained during my enrollment at your esteemed institution. My name is Angelo, and I have been studying at your School of Management for the past two years.
I was granted a college loan to complete my degree, which I was supposed to repay with interest. However, I recently faced a significant challenge as my father, the sole breadwinner of our family, passed away. I am now responsible for taking care of my family, and it has become increasingly challenging for me to manage my finances. Given my current situation, I am unable to repay the loan as agreed.
I am writing to request that you kindly consider forgiving my student loan. I understand the importance of repaying loans and fulfilling my financial obligations. However, my current circumstances have made it challenging for me to do so. I hope that you will understand my situation and consider my request for forgiveness.
I am grateful for the education and support that I have received from your institution. I promise to work hard and give back to society in any way possible. Please let me know if there is any other information you require from me.
Thank you for your understanding.
Sincerely,
[Your Name]