If you work full-time in a public service job, you may qualify for Public Service Loan Forgiveness

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


Help For Teachers To Buy Homes In California

The California Housing Finance Agency recently announced they were bringing back the Extra Credit Teacher Home Purchase Program to help teachers, administrators , and others who work in schools to get down payment assistance.

Extra Credit Teacher Home Purchase Program (ECTP)
ECTP is a deferred payment, forgivable interest subordinate loan for eligible teachers,
administrators, classified employees and staff members working in high priority schools (API
ranks 1-5), county schools or continuation schools throughout California. ECTP can only be
used for down payment assistance with an eligible CalHFA first mortgage loan.

For complete details and underwriting guidelines, please refer to CalHFA Program Handbooks
published on CalHFA’s web site. http://www.calhfa.ca.gov.
For questions about this bulletin, contact CalHFA Single Family Lending division by phone
916.326.8033; by fax 916.324.6424; by email at SFPrograms@calhfa.ca.gov. You can always visit
CalHFA’s web site at: http://www.calhfa.ca.gov or Single Family Lending division directly at

See the bulletin at:  http://www.calhfa.ca.gov/homeownership/bulletins/2013/2013-09.pdf