Given a passage and a query based on the passage, generate an unambiguous, concise and simple answer to the query from information in the passage. Note that the answer may not be present in exact form.
Q: Certain volunteer organizations offer student loan forgiveness in exchange for a certain amount of your time. If you volunteer for AmeriCorps, Peace Corps, or Volunteers in Service to America (VISTA) you can have up to 70 percent of your student loans forgiven. Circumstances for Student Loan Discharge: 1 Permanent disability or death. 2 Victim of identity theft. 3 Unauthorized signature of the loan by the school without your knowledge. 4 False certification of student eligibility. 5. Wait 25 Years or (20 Years for New Loans) If you have a federal loan and you're on an income-based repayment (IBR) plan, you can have the balance of your student loan forgiven after 25 years, or 10 years if you work in public service. Qualifying repayment plans for loan forgiveness. 1 Income-Based Repayment Plan (IBR) 2 Income-Contingent Repayment Plan (ICR) 3 Pay As You Earn Repayment Plan (PAYE) 4 Revised Pay As You Earn Repayment Plan (REPAYE) In certain situations, you can eliminate some or all of your student loans through a student loan forgiveness program. Depending on your degree and your current occupation, you may qualify for one of many student loan forgiveness programs. If you're wondering whether you can have your student loans forgiven through your job, ask someone in your human resources department. Here are 5 ways to get your student loans forgiven: The Income-Contingent, or Income-Based Repayment Plans qualify you for loan forgiveness after 25 years of on-time payments. Forgiveness based on 20 or 25 years of on-time payments is only available to Federal Student loans. Private student loans do not qualify. Student Loan Discharge. There's one additional way to achieve student loan forgiveness which is called discharge. It is generally awarded by a judge and can apply to both Federal and private student loans. Other states have additional student loan forgiveness programs that allow you to have student loans forgiven in additional situations. 1 You can always contact your loan board of education for information about having your student loans forgiven. You can have up to 100% of your Perkins Loans cancelled or broken down over five years. 1 15% per year for the first and second year. 2 20% for the third and fourth years. 3 30% for the fifth year. Drawbacks of Student Loan Forgiveness. In certain situations, you're required to report forgiven loans as taxable income. This may increase your tax liability that year and could result in a tax bill when you file in April. Not all student loan forgiveness programs require you to pay taxes on the forgiven debt. You can apply for IBR by contacting the lender servicing your loan. Loans taken out after July 22, 2014 on the IBR plan will be forgiven after 20 years instead of 25 years. President Obama recently announced plans to speed up that date to 2012. Visit the Federal Student Aid website and IBR Info for more information. Query: how long till student loans are forgiven
A:
Student loans are forgiven in 20 or 25 years.