What is the Public Service Loan Forgiveness program?

The Public Service Loan Forgiveness (PSLF) program is a federal program offered to eligible borrowers to forgive the remaining balance of their Direct Loans after making 120 qualifying payments while working full-time for a qualifying employer in public service. The qualifying employers include government organizations, non-profit organizations, and other types of non-profit organizations with specific tax-exempt statuses. Borrowers must be enrolled in a qualifying repayment plan and make the 120 required payments under this program. Once the 120 payments are completed, the remaining loan balance is forgiven without any tax implications. This program aims to incentivize and reward individuals who choose to work in public service by providing them with a pathway to have their student loan debt forgiven.