Public Service Loan Forgiveness


The Public Service Loan Forgiveness program (PSLF) offers complete loan forgiveness to those who work in the public sector. This includes non-profit employees, Peace Corps volunteers, public school teachers and staff, and government employees to name a few.

How much in loan forgiveness can I receive from Public Service Loan Forgiveness?


In the Public Service Loan Forgiveness program, you may qualify for complete student loan forgiveness after 10 years or 120 payments instead of the standard 20-25 year forgiveness. Plus, there is no dollar cap on the amount of money that you can have forgiven through PSFL. Any qualifying loan balance that remains after 10 years is forgiven in its entirety. Best of all, the IRS does not view the forgiven debt as taxable income.

Who is eligible for Public Service Loan Forgiveness?


The PSLF program cares more about who you work for rather than what you do. To qualify, you must work or volunteer for one of the following:

  • A government organization at any level
  • A tax-exempt 501(c)(3) not-for-profit organization
  • A not-for-profit organization that provides qualifying public services
  • Working full-time


Program participants must also work full-time. You are considered a full-time worker if your employer considers you a full-time employee or if you work a minimum of 30 hours per week, whichever is greater. You must also be paying in an income-driven repayment plan to qualify. The Public Service Loan Forgiveness program forgives any non-defaulted loan borrowed under the William D. Ford Federal Direct Loan Program. Other loans like Federal Perkins Loans or Federal Family Education can become eligible for PSLF if you consolidate them into a Direct Consolidated Loan.


Click Here To Begin Your Loan Evaluation To See If You Qualify

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