Although there’s been a lot of controversy and confusion about student loan forgiveness, students should be aware that programs do remain, for which they may be eligible, to have at least part of their loans forgiven.
Public Service Loan Forgiveness (PSLF) is a federal program which is, perhaps, available to the most borrowers. The program forgives the remaining balance on a Direct Loan after 120 qualifying payments.
To qualify for PSLF, borrowers must work for a qualifying employer, which includes government agencies or nonprofit organizations, have Direct Loans, and ensure that payments count towards forgiveness by meeting specific requirements.
Borrowers who meet the qualifications for PSLF should consider repaying their loans in an income-driven repayment plan to make the most of the program.
Borrowers can use the PSLF Help Tool to determine if they qualify for the program.
