Academia Support Center

Education Your Way

Public Service Loan Forgiveness Program

First the TL;DR:The Public Service Loan Forgiveness Program forgives student loan debt for those working in public service.

Which seems quite obvious from the name alone.This is available to those who hold Direct Loans, work for a qualifying employer and make 120 eligible monthly on-time payments.Once all that’s done, any remaining debt is destroyed.

Sounds great, so how do I find out if I’m eligible?

If you work for some Government organizations at any level (Tribal, Local, State or Federal), Not-for-profit organizations that are tax-exempt under 501(c)(3) of the Internal Revenue Code, and even other types of 501(c)(3) class not-for-profits “If their primary purpose is to provide qualifying public services” among limited others.

Oh-kay so which types of loans are theoretically eligible?

If you’re got a loan under the Federal Family Education Loan Program (FFEL) or the Federal Perkins Loan Program you are currently not eligible for the PSLF. WAIT! You do have options.

If you consolidate your loans into a so-called “Direct Consolidation Loan” you may well become eligible.

The caveat is that only payments made under your new consolidated loan will be counted under the PSLF and that usually takes around 10 years.

Which brings us to our next topic. You may already be making qualifying payments!

Now bear with me here. The PSLF program requires 120 on-time payments while working for a qualifying employer, and the good news is that the payments don’t even need to be contiguous. If you’re been working for 30 (or part-time which totals to 30) while making regular repayments you may be closer to forgiveness than you think.

Want some expert advice? Contact our expert team by clicking here or call855-223-6307