Public Service Loan Forgiveness Application Now Available
Apply by December to Qualify for Forgiveness
The Public Service Loan Forgiveness (PSLF) Program allows borrowers who work in public service to have their remaining federal student loan debt forgiven after they have made 120 qualifying monthly payments. The PSLF application is now available and borrowers must apply by December 31, 2023 to qualify.
How to Apply for PSLF
To apply for PSLF, borrowers can visit the StudentAid.gov website. The application is a simple form that takes about 10 minutes to complete. Borrowers will need to provide information about their employment history, student loans, and income. Once the application is submitted, it will be processed by the Department of Education.
Borrowers who are approved for PSLF will have their remaining federal student loan debt forgiven. The forgiveness will be applied to the borrower's account automatically. Borrowers will not need to do anything else to receive the forgiveness.
Eligibility for PSLF
To be eligible for PSLF, borrowers must:
- Be employed full-time in a public service job for 10 years.
- Have made 120 qualifying monthly payments on their federal student loans while working in public service.
- Have Direct Loans or have consolidated their federal student loans into a Direct Loan.
Borrowers who are not sure if they qualify for PSLF can contact their loan servicer or visit the StudentAid.gov website for more information.
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