Public Service Loan Forgiveness
If you are a qualifying public interest employer, the Public Service Loan Forgiveness program is one of the most significant breakthroughs in a generation. Public Service Loan Forgiveness (PSLF) was established by the College Cost Reduction & Access Act of 2007 and offers loan forgiveness after 10 years of public service employment.
Breaking News: PSLF Loan Certification Form Released!
The Department of Education has released an Employment Certification for Public Service Loan Forgiveness form to assist borrowers in tracking their qualifying employment and qualifying payments as they work toward earning loan forgiveness.
Find out more about the certification process set up by the Department of Education and to download a copy of the form, instructions and a “dear borrower” letter.
How does it work?
If you are a qualifying public interest employer and your employees:
- Make 120 qualifying loan payments
- On Federal Direct loans
- While working full-time in a qualifying public service position
The federal government will:
- Forgive the balance remaining on those Federal Direct loans
Your employees must meet additional specific requirements before they can qualify for forgiveness.
If you are a qualifying public service employer, your employees who are taking the right steps may be working their way to forgiveness.
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