The deletion of all or part of a debt that is rightfully due to the GNWT or a Public Agency. Forgiveness relieves the debtor of the obligation to repay the amount that is forgiven. The amount that is forgiven is removed from the records and no further collection action can be taken on that portion of debt that has been forgiven. Forgiveness shall not apply to a debt resulting from a tax or penalty, or to a student loan under the Student Financial Assistance Act