I have heard this for many years from several different quarters, but have never actually seen any means for applying for this. Is this true on any level? I am now retired (Registered Nurse) but still working on an "as needed" basis. Just wondering?

Not that I am aware of... in fact it's the only loan I know of that can't be forgiven in a bankruptcy. Forgiving them would also be grossly unfair to those of us who found ways to pay ours off not matter how difficult it was.

No, it is not forgiven. My husband is still paying his off 29 years after the fact.

Why would a lender lend out money if it could be left unpaid after 20 years?

Student loans come from federal funds. You know the government always wants their money back.

Surprisingly there are programs available (and you may not have to wait 20 years), each with their own set of requirements and circumstances as to what portion of the loan is forgiven. I know with teaching, for example, working in low-income schools (such as Title 1 schools), some teachers will be eligible after meeting requirements.

Check out public service loan forgiveness as just one place to start.

(wish I was eligible! )

Yes there are things you MIGHT be able to do that will offset your student loan balance. They depend on your major and your actions. As mentioned, teaching in an inner city school. Doctors can set up practice in areas not served by a physician. But it doesn't just happen when time has passed.

No, there is no "forgiveness".

However, depending on the statutes of limitations in each state, the creditor might no longer be able to go to court to collect. Generally this is figured from the last date the debtor made a payment.

I believe that, however, federal tax refunds may be garnished for student loans without the necessity of a lawsuit.

A bankruptcy discharge of a student loan is very difficult to get.