Overview: College and scholarship research are arduous tasks and even the most accomplished students may experience difficulty in closing the financial aid gap. Consequently, over half of all first-year college students will assume student loans and their parents will assume Parent PLUS or private loans. Students who commit to a college prior to identifying the sources of money to pay their college costs will find themselves under tremendous pressure to accept an offer of admission and make an enrollment decision, followed by a nonrefundable enrollment deposit. A frequently stressful senior year and anxiety-filled college admissions process results in many students and families making hasty decisions, which can have significant long-term consequences in the amount of student loan debt assumed by students and parents. Beyond interest rates and when loans begin accruing interest, it is important to identify which student loans can be forgiven and what future requirements you must fulfill to do so.