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How to Qualify for Public Service Loan Forgiveness

Here are the main qualifiers to receive loan

forgiveness for public service workers: 


✪ You must make 120 monthly payments while working full time for a public service or non profit job. Qualifying jobs can be ANY government job, ANY 501c(3) non profit job, and ANY public school occupation (not just teachers). Private schools are eligible, as long as they are not for profit.


✪ Payments must be made towards DIRECT loans only. FFEL loans, and Perkins loans DO NOT qualify, however there is an administrative procedure which CAN convert them (or consolidate them) into Direct Loans. 


✪ The loan programs that qualify are INCOME DRIVEN plans, which are based on your income and family size primarily.

✪ Any loan payments made after October 2007 (which follow the above guidelines) can be researched, and therefore CREDITED towards the 120 monthly payments. This program is not based on when you took out your loans. Only Fed Loan customers can have their loans researched. 




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