Under PSLF, all Direct Loans qualify. Federal Perkins Loans and Family Education Loans (FFEL) may be eligible for PSLF as well. To receive loan forgiveness, you must enroll in one of the qualifying payment plans listed on our website on the REPAYMENT OPTIONS page.
Under the government-funded student loan program known as Public Service Loan Forgiveness (PSLF), which first launched in 2007, participants agree to work in certain public service jobs for the government and nonprofit sector in exchange for loan forgiveness. In addition to meeting employment requirements, they must also make 120 on-time payments under certain types of repayment plans and meet other criteria.
There are a lot of details to get right if you hope to qualify, but the effort can be well worth it. After all, PSLF could lead to forgiveness of unlimited remaining student loans for borrowers who are struggling under the weight of their debt.
That sounds like a dream for cash-strapped professionals willing to work in high-need areas or for the public good, but the reality of the program has been nothing short of a nightmare.
The Department of Education just released its June 2019 PSLF Report, where the numbers have seen an improvement, but still leave a lot to be desired. Before we can make generalizations about the success or failure of PSLF, it’s important that we understand the details and nuances of the program.
