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Public Service Loan Forgiveness (PSLF) is a program that can forgive federal student loans for borrowers working in qualifying public service jobs. To determine if you are eligible, it is important to review specific criteria and ensure you meet all requirements. This checklist provides an overview of the key points to consider.
Basic Eligibility Requirements
To qualify for PSLF, you must be employed full-time by a qualifying employer, have federal Direct Loans, and make 120 qualifying payments. Your employment must be with government organizations, non-profit organizations, or other qualifying public service entities.
Qualifying Employment
Employment must be with:
- Federal, state, local, or tribal government organizations
- Non-profit organizations with 501(c)(3) status
- Other qualifying public service organizations
Payment and Loan Requirements
Payments must be made:
- Under a qualifying repayment plan, such as Income-Driven Repayment or Standard Repayment
- On time, each month
- While employed full-time by a qualifying employer
Additional Tips
Keep detailed records of your employment and payments. Submit the Employment Certification Form annually or whenever you change jobs to verify your qualifying employment and payments. Regularly review your loan status and ensure all payments are correctly recorded.