PUBLIC SERVICE LOAN FORGIVENESS (PSLF)

ARE YOU ELIGIBLE FOR FEDERAL STUDENT LOAN FORGIVENESS?

For informational purposes only.

PUBLIC SERVICE LOAN FORGIVENESS
PSLF ELIGIBILITY

If you work for a non-profit agency or the government, you may be eligible for federal student loan forgiveness after 10 years of repayment. 

PUBLIC SERVICE LOAN FORGIVENESS
PSLF PROGRAM

This program does not apply to any non-federal loans made or held by RISLA. For the most complete and up to date information, please visit Federal Student Aid

This page is for informational purposes.

PSLF PROGRAM

The Public Service Loan Forgiveness (PSLF) program forgives the remaining portion of your qualifying federal direct student loans after 120 qualifying payments under a qualifying repayment plan while working for a qualifying employer. So what exactly does that mean? 

 

QUALIFYING LOANS

Direct Loans

Only Direct Loans, including Subsidized and Unsubsidized, Stafford, Graduate PLUS, and Consolidation loans are eligible for this program.

Your loan(s) must not be in default.

Plus Loans

PLUS loans are only eligible if consolidated under the Federal Direct Consolidation Loan program. 

Federal Family Education Loan Program

Federal student loan issued prior to July 1, 2010, may have been made under the FFELP loan program. FFELP loans do not qualify for PSLF. However, you may consolidate these loans under the Direct Consolidation Loan program to become eligible for PSLF.

See PSLF Limited Waiver for additional details for qualification of FFELP payments.

Federal Student Loans

Find out what kind of federal student loan you have at My Federal Student Aid

QUALIFYING PAYMENTS

Payments After Oct. 01, 2007

Qualifying payments must be made after Oct. 1, 2007, must be for the full amount due, and must be within 15 days of the due date. Only payments made under a qualifying repayment plan while you work for a qualifying employer are eligible. 

 

Payment Timeline

Qualifying payments do not need to be consecutive, for example if you have a period of employment with a non-qualifying employer and then return to a job with a qualifying employer. 

  

Ineligible Payments

Payments made while you are in school, grace, deferment or forbearance are ineligible. 

Automatic Payments

It is recommended  enroll in autopay to ensure your payments are sent each month on time. 

Helpful Resources

Public Service Loan Forgiveness Limited Waiver Opportunity

LEARN MORE

Learn about PSLF program details

LEARN MORE

Loan Simulator helps you calculate student loan payments and choose Federal student loan repayment option that best meets your needs and goals.

LEARN MORE

Information on all federal student loans, and access to the federal consolidation loan application.

LEARN MORE

Call 855-265-4038 to speak to PSLF specialist.

QUALIFYING EMPLOYERS

PSLF is less about what you do, and more about who you work for. Working full-time for any of the below types of employers may qualify you for PSLF:

  • Federal, state, local or tribal government organizations.

  • 501(c)(3) tax-exempt not-for-profit organizations.

  • Not-for-profit organizations that provide certain types of qualifying public services, but are not tax-exempt under Section 501(c)(3).

  • If you work full-time as AmeriCorps or Peace Corps volunteer, you may also qualify.

HOW TO APPLY

Helpful steps when applying for PSLF Public Service Loan Forgiveness.

Employment Certification Form
Submit the Employment Certification Form.

US Dept of Education notes, too many borrowers wait to take this step and find out after years of making payments, that the payments they have been making do not qualify for PSLF. By completing this step first, you ensure you are the right path to PSLF. You will need to resubmit this form annually and every time you switch employers. 

Department of Education

The DOE will determine if your loans and employment qualify for the PSLF program. They will notify you by letter or email of the number of qualifying payments you have already made, if you meet the the requirements. 

Qualifying Payments

Make 120 qualifying payments on a qualifying repayment plan towards your qualifying loans while working for a qualifying employer. 

Submit PSLF Application

After your 120th payment, submit your PSLF application to your loan servicer. 

QUESTIONS
QUESTIONS?

Contact a PSLF Specialist about PSLA Application Process.

RISLA PRODUCTS & SERVICES
COLLEGE PLANNING CENTER

Students and families can be overwhelmed with planning and how to pay for college.  We have experienced counselors that offer one on one assistance helping families understand all their options start to finish.

EDUCATION LOANS

We have been offering low cost, fix rate education loans for almost 30 years.  Helping students and families borrower responsibly to help achieve their higher education dreams.

REFINANCE

Refinancing may help you simplify and save when repaying student loans.  Combining outstanding balances, and securing a low interest rate with RISLA may reduce your overall repayment amount and possibly your monthly payment.

EMPLOYER REPAY

Employer Student Loan Repayment assistance is a tax-free benefit allowing employers to contribute towards the repayment of employee student loans.  This newest in-demand employee benefit helps reduce financial stress for employees while increasing retention and loyalty to employers.