What is the Public Service Loan Forgiveness Program?
The PSLF Program is intended to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers.
What must I do to have any remaining balances on my Direct Loans forgiven under the PSLF Program?
- You must make 120 on-time, full, scheduled, monthly payments on your Direct Loans. Only payments made after October 1, 2007 qualify.
- You must make those payments under a qualifying repayment plan.
- When you make each of those payments, you must be working full-time at a qualifying public service organization.
For more information go to: http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/public-service