If you’re employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you would possibly be eligible for the general public Service Loan Forgiveness Program. Keep reading to ascertain whether you would possibly qualify. The PSLF Program forgives the remaining balance on your Direct Loans after you’ve got made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.

To qualify for PSLF, you must

be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization;

work full-time for that agency or organization;

have Direct Loans (or consolidate other federal student loans into an immediate Loan);

repay your loans under an income-driven repayment plan; and

make 120 qualifying payments.

To ensure you’re on the proper track, you ought to submit a Public Service Loan Forgiveness: Employment Certification Form annually or once you change employers. We’ll use the knowledge you provide on the shape to allow you to know if you’re making qualifying PSLF payments. this may assist you determine if you’re on the proper track as early as possible.

You must be directly employed by a qualifying employer for your employment to count toward PSLF. If you’re employed by a corporation that’s doing work under a contract with a qualifying employer, it’s your employer’s status—not the status of the organization that your employer features a contract with—that determines whether your employment qualifies for PSLF. for instance , if you’re employed by a for-profit contractor that’s doing work for a qualifying employer, your employment doesn’t count toward PSLF.

The official name for the government staff member student loan forgiveness is the Public Service Loan Forgiveness Program (PSLF). President George W. Bush introduced the PSLF in 2007. The purpose of the program is to encourage students like you who have borrowed to work full-time in the public sector. In doing so, the federal government will forgive your student loan debt. The public sectors include social workers, teachers, police officers, military, etc.

The government employee student loan forgiveness or PSLF has five eligibility requirements:

You must make 120 monthly payments
You must have the right loans
Make payments under the right repayment plan
You must complete the number of working hours
You must work with the right employer
What Loans Are Eligible For The Government Employee Student Loan Forgiveness?
The loan forgiveness program can forgive loans under the Direct Loan Program. Private loans are excluded. Also, other Education Department Loans such as Perkins, FFEL, etc. are not qualified.

If you’re able to consolidate your non-Direct Loan Program into a Direct Consolidation Loan, the consolidated loan that resulted will be eligible for the government employee student loan forgiveness. But you have to remember that the forgiveness resulted is contingent on making the 120 payments.

You can find out the types of loans you have by finding out from the National Student Loan Data System. Visit the studentloans.gov to know more about the consolidation of your loans.

Guidelines For Government Employee Student Loan Forgiveness For Public Service
You should make 120 payments to be able to have your loans forgiven under the program. You should make those payments:

In full
As scheduled
Under a qualified repayment plan
Every month
While you’re working full-time for a public service organization or a nonprofit.


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