-

What is plsf? -Public Service Loan Forgiveness

By Rajendra Sep 29,  2022

– A federal loan forgiveness program designed to encourage & reward those who choose jobs in public service with the opportunity to have federal loan balances  forgiven.

– All  employees who work full-time for a public service  employer can qualify,  regardless of job title.

Make 120 qualifying payments while working for a public servicer employer.

How do you get it?

1

Keep all your federal loans federal

Only federal loans are eligible for PSLF, so you should not refinance your federal loans into private loans if you think you may qualify

2

Get on an income-driven repayment plan

A repayment plan like REPAYE offers payments based on the lowest percentage of income and maximizes your potential forgiveness benefit.

3

File an Employment Certification Form 1-2 times a year:

Your employer will need to verify the information and sign off on it in order to prove your eligibility.

Who qualifies as a “public service” employer?

government agencies (federal, state, city, local, and tribal)

the military

non-profit hospitals

White Dotted Arrow
White Dotted Arrow
White Dotted Arrow

public schools and universities

charities, including 501(c)3 organizations

White Dotted Arrow
White Dotted Arrow