Are you a federal employee with outstanding student loans? Here is a program that may help: the Public Service Loan Forgiveness Program (PSLF).
PSLF encourages individuals to enter and remain working full-time in public service jobs. Federal employees can qualify for forgiveness of their remaining balance on certain student loans after 120 qualifying payments are made
To qualify for PSLF, borrowers must:
- Work for their federal agency full-time;
- Have qualifying federal Direct Loans; and
- Repay their loans under a qualifying repayment plan, either an income-driven repayment plan or the 10-year standard plan;
To learn more about PSLF, read their common questions document.