PSLF (Public Service Loan Forgiveness): Who Qualifies and What You Get
Learn how to have your remaining student loan balance forgiven if you work for a government or non-profit organization.
The Public Service Loan Forgiveness (PSLF) program allows people with certain student loans to have their remaining debt cleared after working in specific sectors for a set period.
Who it's for
This program is designed for people who work for government organizations or non-profit entities.
What you get
If you meet the requirements, the remaining balance of your student loans will be forgiven after you have made a specific number of qualifying monthly payments.
What it costs you
To participate, you must enroll in specific repayment plans rather than standard ones. You will also need to provide documentation from your employer to certify that your work qualifies.
The catch to know
Many people assume all service-oriented jobs qualify, but this is not the case. For example, most commercial airlines are for-profit companies and do not qualify for this program.
How to apply
- Ensure you are on an eligible repayment plan.
- Submit employer certification forms to prove your employment status.
- Make your required monthly payments on time.
- Track your progress through the official portal: https://studentaid.gov