What is Public Service Loan Forgiveness (PSLF)?
The Public Service Loan Forgiveness (PSLF) program is a federal program intended to encourage individuals to enter and continue to work in full-time public service positions. If you are thinking about working in a public service (which includes federal, state, local government, or not-for-profit organizations), the PSLF program is a great opportunity to provide service and, in return, qualify for loan forgiveness.
The program provides forgiveness for the remaining balance (principal and interest) on your eligible Direct Loans after you have worked for a qualifying public service employer and made 120 qualifying monthly payments while enrolled in a qualifying repayment plan.