Federal Direct loan repayment can be deferred while the student is enrolled in school at least half-time (6 or more credits). Types of Federal Student Loans.You may qualify for forgiveness of the remaining balance due on your eligible federal student loans based on your employment in a public service job. Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. Content. Where to apply for loan forgiveness. You may be eligible to have all your student debt canceled.