Loan forgiveness refers to a process where an individual's debt is canceled or reduced due to certain circumstances. This could be because they were unable to repay their loan, or because they met specific criteria that qualified them for loan forgiveness. In some cases, this may also involve the discharge of student loans, which can provide relief to those who have struggled financially after completing their education. Overall, loan forgiveness is intended to help individuals in financial distress and provide a fresh start by eliminating or reducing their debt obligations.