What are the requirements for Public Service Loan Forgiveness?

What are the requirements for Public Service Loan Forgiveness?

To qualify for Public Service Loan Forgiveness (PSLF), you need to meet several requirements, including working for a qualifying employer, making 120 qualifying payments, and being on a qualifying repayment plan.

What types of employers qualify for PSLF?

Qualifying employers for PSLF include government organizations, non-profit organizations, and certain other types of public service organizations.

How do I know if my loans qualify for PSLF?

You can check if your loans qualify by reviewing your loan type. Federal Direct Loans are eligible, while others like FFEL or Perkins Loans may need to be consolidated.

What if I don't meet the 120 payment requirement?

If you don't meet the 120 payment requirement, you can continue making qualifying payments. You can also check if you're on the right repayment plan to maximize your eligibility.

Can I apply for PSLF if I'm still in school?

You can apply for PSLF while in school, but you won't start making qualifying payments until you graduate and begin working for a qualifying employer.