Public Service Loan Forgiveness
If your students plan to work in the public interest, the Public Service Loan Forgiveness program, one of the most significant breakthroughs in a generation, can significantly reduce their educational debt burden. 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.
Printer-friendly versionBreaking 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 your students:
- 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
Borrowers must meet specific requirements before they can qualify for forgiveness.
Learn more about taking the right steps to qualify for PSLF.