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Public Service Loan Forgiveness (PSLF)

Who It’s For: People who have worked full-time in a qualifying public service job for at least ten years while simultaneously making qualifying monthly payments.

How to Apply: Sign up for a qualifying payment plan; in most cases this means an income-driven repayment plan. Then, fill out an employment certification form and send it to the address on the form in order to verify that your employment qualifies for PSLF. It is recommended to re-submit the certification form once a year to be certain that you are still on track to qualify for PSLF.

Once you’ve completed 120 qualifying payments while working in your public service job, you can then submit the PSLF application itself.

What Loans Qualify: Any Direct loan. Please note that not all federal loans are Direct loans, so check with your servicer if you aren’t sure which kind you have.

How Much?: The full remaining balance on all eligible loans.

Anything Else I Should Know?:  There are quite a few variables that need to be met for this forgiveness option to apply. Work with your servicer to make sure you have the correct loan type, payment plan, and employment status. You should then follow up with your servicer at least once a year to make sure you’re still on the right track. We have a detailed write up on this program here.