"Loan cancellation" refers to the action of stopping or nullifying a loan agreement, where the borrower is no longer required to repay the remaining amount of the loan. Full definition
You might also be eligible for loan cancellation if you die or go bankrupt, or if your school closes or made fraudulent claims. (studentloanhero.com)
They offer a competitive student loan cancellation program that offers up to 70 percent of loan repayment for those who qualify. (studentloans.net)
Parent PLUS Loans can also qualify for student loan cancellation, which is different from student loan forgiveness (we explain the difference here). (thecollegeinvestor.com)