REPAYE
loans qualify for PSLF and tend to suit borrowers planning for PSLF applications.
Federal student aid representatives will review your forms and tell you if your employer, payments, and
loans qualify for PSLF.
At the heart of the issue is the fact that not all federal
loans qualify for the PSLF program.
Federal student aid representatives will review your forms and tell you if your employer, payments, and
loans qualify for PSLF.
Which types of federal student
loans qualify for PSLF?
Your student
loan qualifies for the PSLF if you specifically received a loan under the William D. Ford Federal Direct Loan (Direct Loan) Program.
What
loans qualifying for PSLF?
Not exact matches
At this time, only federal direct
loans are eligible
for PSLF, but a consolidation of other types of
loans may indirectly provide
loan forgiveness to some
qualified borrowers.
If you work full - time
for a non-profit or
for the government, you may be eligible
for the Public Service
Loan Forgiveness (
PSLF) program, which forgives your remaining balance after as little as ten years of
qualifying payments made under any IDR plan.
If you have both Direct
Loans and other types of federal student loans that you want to consolidate to take advantage of PSLF, it's important to understand that if you consolidate your existing Direct Loans with the other loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolid
Loans and other types of federal student
loans that you want to consolidate to take advantage of PSLF, it's important to understand that if you consolidate your existing Direct Loans with the other loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolid
loans that you want to consolidate to take advantage of
PSLF, it's important to understand that if you consolidate your existing Direct
Loans with the other loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolid
Loans with the other
loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolid
loans, you will lose credit
for any
qualifying PSLF payments you made on your Direct
Loans before they were consolid
Loans before they were consolidated.
The Public Service
Loan Forgiveness (
PSLF) Program forgives the remaining balance on your Direct
Loans after you have made 120
qualifying monthly payments under a
qualifying repayment plan while working full - time
for a
qualifying employer.
If we determine that your employment
qualifies, we will then review your payment history (including any payments you made to another federal
loan servicer before your
loans were transferred) to determine how many payments made during the period of employment certified on the Employment Certification form are
qualifying monthly payments
for PSLF.
In addition, borrowers who have lump - sum payments made on their behalf under a student
loan repayment program administered by the U.S. Department of Defense may also receive credit
for more than one
qualifying PSLF payment.
It's important to understand that the Standard Repayment Plan
for Direct Consolidation
Loans is not the same repayment plan as the 10 - Year Standard Repayment Plan, and payments made under the Standard Repayment Plan
for Direct Consolidation
Loans do not usually
qualify for PSLF purposes.
However, only
qualifying payments that you make on the new Direct Consolidation
Loan can be counted toward the 120 payments required
for PSLF.
Loans from these programs do not
qualify for PSLF, but they may become eligible if you consolidate them into a Direct Consolidation
Loan.
If you've already made
qualifying payments on your Direct
Loans, but also have federal student loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
Loans, but also have federal student
loans that are not eligible for PSLF, a good option may be to consolidate your other federal loans without including your Direct L
loans that are not eligible
for PSLF, a good option may be to consolidate your other federal
loans without including your Direct L
loans without including your Direct
LoansLoans.
Please note you must be working
for a
qualifying employer at the time you submit the
PSLF Application
for Forgiveness and at the time the remaining balance on your
loan is forgiven.
However, if a Direct PLUS
Loan made to a parent borrower is consolidated into a Direct Consolidation
Loan, the new Direct Consolidation
Loan can then be repaid under the ICR plan, which is a
qualifying repayment plan
for PSLF.
Additionally, you must be working full - time
for a
qualifying employer at the time you submit the
PSLF Application
for Forgiveness and at the time the remaining balance on your
loan is forgiven.
Borrowers who do not
qualify for loan forgiveness under
PSLF may still
qualify for loan forgiveness in an IDR plan, but it will take longer — 20 or 25 years.
If you're on the 10 - year Standard Repayment Plan, you'll have paid your entire
loan balance by the time you've made enough payments to
qualify for PSLF
If you have an FFEL or Perkins
Loan, you'll need to consolidate it into a Direct Consolidation
Loan before the payments you make would
qualify for PSLF.
If you're making payments under an income - driven repayment plan and also working toward
loan forgiveness under the Public Service Loan Forgiveness (PSLF) Program, you may qualify for forgiveness of any remaining loan balance after you've made 10 years of qualifying payments, instead of 20 or 25 ye
loan forgiveness under the Public Service
Loan Forgiveness (PSLF) Program, you may qualify for forgiveness of any remaining loan balance after you've made 10 years of qualifying payments, instead of 20 or 25 ye
Loan Forgiveness (
PSLF) Program, you may
qualify for forgiveness of any remaining
loan balance after you've made 10 years of qualifying payments, instead of 20 or 25 ye
loan balance after you've made 10 years of
qualifying payments, instead of 20 or 25 years.
For example: You may be working in qualifying employment for PSLF and enrolled in IBR to receive lowered income - based payments on your Federal Direct Loa
For example: You may be working in
qualifying employment
for PSLF and enrolled in IBR to receive lowered income - based payments on your Federal Direct Loa
for PSLF and enrolled in IBR to receive lowered income - based payments on your Federal Direct
Loans.
Many of the jobs, in addition to providing you with a way to earn the education award
for student
loan repayment, also help you
qualify for PSLF.
If you work full - time
for a non-profit or
for the government, you may be eligible
for the Public Service
Loan Forgiveness (
PSLF) program, which forgives your remaining balance after as little as ten years of
qualifying payments made under any IDR plan.
The
PSLF program forgives 100 % of your remaining
loan balance after you've made payments
for at least 120 months (10 years), if you're employed full - time by a
qualifying employer.
If your answer to any of these is yes, then you may
qualify for the Public Service
Loan Forgiveness Program (
PSLF).
While it may be easy to
qualify for the
PSLF, only Direct
Loans are eligible
for the program.
The Public Service Forgiveness Program (
PSLF) is a popular program that forgives the remainder of your Direct
Loans once you have made 120 monthly payments on your
loan while working
for a
qualifying employer.
If you're a government employee, you'll
qualify for PSLF and get your
loans forgiven once you get back on track and make the right number of payments.
My plan is to continue in the public service field (and eventually
qualify for the
PSLF) however, I would like to consolidate my parent's PLUS
loan under my name, so it would be included in the
PSLF at the end of 10 years.
Borrowers who have Federal Direct Consolidation
Loans are also able to
qualify for PSLF (Public Service
Loan Forgiveness).
The suit says, «student
loan servicers, including Great Lakes, are contracted to and compensated
for helping consumers navigate the process of
qualifying for PSLF.
Because the ABA is not a 501 (c) 3 nonprofit, and lawyers are not necessarily under the employee of the state or «in the public service,» these lawyers and ABA employees are not currently
qualified for forgiveness on their student
loan debt under the
PSLF.
If I return to school and
qualify for an in - school deferment on my Direct
Loans that are in repayment, can I decline the deferment and make
qualifying PSLF payments while I'm in school?
What kind of documentation do I need to keep to show that I worked
for a
qualifying PSLF employer while making the required 120 payments on my Direct
Loan (s)?
The Standard Repayment Plan
for Direct Consolidation
Loans is not the same repayment plan as the 10 - Year Standard Repayment Plan, and payments made under the Standard Repayment Plan
for Direct Consolidation
Loans do not usually
qualify for PSLF purposes.
Carefully read the letter, including the description of the eligibility requirements, to understand why your
loans, employment, or payments didn't
qualify for PSLF.
If the U.S. Department of Defense (DOD) makes a lump - sum payment toward your Direct
Loans after a year of service as part of one of the student
loan repayment programs it administers, you will receive credit
for up to 12
qualifying payments
for PSLF.
Payments made under the Standard Repayment Plan
for Direct Consolidation
Loans would
qualify for PSLF purposes only if the maximum repayment period was set at 10 years, and that would be the case only if the total amount of the consolidation
loan and your other education
loan debt was less than $ 7,500.
For example, if you've made 20 qualifying Public Service Loan Forgiveness payments and then consolidate, you'll have to start from scratch and make 120 qualifying PSLF payments (the mandated number) before qualifying for forgivenes
For example, if you've made 20
qualifying Public Service
Loan Forgiveness payments and then consolidate, you'll have to start from scratch and make 120
qualifying PSLF payments (the mandated number) before
qualifying for forgivenes
for forgiveness.1
Once the
PSLF servicer has received all of the documentation needed to determine whether you
qualify for loan forgiveness, you will be notified.
If I receive
loan forgiveness under the federal Teacher Loan Forgiveness Program after completing five years of qualifying teaching service, will I also be able to qualify for P
loan forgiveness under the federal Teacher
Loan Forgiveness Program after completing five years of qualifying teaching service, will I also be able to qualify for P
Loan Forgiveness Program after completing five years of
qualifying teaching service, will I also be able to
qualify for PSLF?
If you use some or all of your Peace Corps transition payment or AmeriCorps Segal Education Award to make a lump - sum payment on your Direct
Loans, you'll receive credit
for up to 12
qualifying payments
for PSLF.
If you do not request a deferment or forbearance and instead make payments under an income - driven plan during your Peace Corps or AmeriCorps service, you could possibly receive credit
for a larger number of
qualifying PSLF payments than you would if you received a deferment or forbearance and then used your Peace Corps transition payment or Segal Education Award to make a lump - sum payment on your Direct
Loans.
For example, if only you were working for a qualifying employer when 80 payments were made and only your spouse was working for a qualifying employer when 40 payments were made, the payments can not be combined to count as 120 qualifying payments that would make the loan eligible for PS
For example, if only you were working
for a qualifying employer when 80 payments were made and only your spouse was working for a qualifying employer when 40 payments were made, the payments can not be combined to count as 120 qualifying payments that would make the loan eligible for PS
for a
qualifying employer when 80 payments were made and only your spouse was working
for a qualifying employer when 40 payments were made, the payments can not be combined to count as 120 qualifying payments that would make the loan eligible for PS
for a
qualifying employer when 40 payments were made, the payments can not be combined to count as 120
qualifying payments that would make the
loan eligible
for PS
for PSLF.
If you make
qualifying PSLF payments on a Direct
Loan and then consolidate that loan, you'll lose credit for the PSLF payme
Loan and then consolidate that
loan, you'll lose credit for the PSLF payme
loan, you'll lose credit
for the
PSLF payments.
At this time, only federal direct
loans are eligible
for PSLF, but a consolidation of other types of
loans may indirectly provide
loan forgiveness to some
qualified borrowers.