Public Service Loan Forgiveness Program

Want to work in a job that serves the public good but are concerned about how to repay your student loans with the salary? Great news: a portion of your student loans can be forgiven if you are employed in certain public sectors. To encourage student loan borrowers to work full-time in a public service career, the federal government created the Public Service Loan Forgiveness Program. If you qualify and remain employed full-time, then any remaining loan balance will disappear after making 120 payments on your Federal Stafford, Grad PLUS, or Consolidation Loans.

Make certain that all 120 payments are paid using one or more of the following repayment plans:

  • Income Based Repayment (IBR) Plan
  • Income Contingent Repayment (ICR) Plan
  • Pay As You Earn (PAYE) Plan
  • Standard Repayment Plan with a 10-year repayment period

For more information on the Public Service Loan Forgiveness Program, click here.