Public Service Loan Forgiveness

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What is Public Service Loan Forgiveness (PSLF)?

The Public Service Loan Forgiveness Program ( PSLF), was established to encourage individuals to enter and continue in full-time public service employment by forgiving the remaining balance of their Federal Direct Student Loans after they have made 120 qualifying payments while working full time for a qualifying employer after October 1, 2007. Call  844-323-3328 to see if you qualify for PSLF Student Loan Forgiveness!

What counts as a government employer for the Public Service Loan Forgiveness (PSLF) Program?

Any federal, state, local, or tribal government agency is a considered a government employer for the PSLF Program. This includes employers such Doctors, Nurses, or Government organizations at any level such as the U.S. military, Law Enforcement, public elementary and secondary schools, public colleges and universities, public child and family service agencies, and special governmental districts (including entities such as public transportation, water, bridge district, or housing authorities).  

Call  844-323-3328 to see if you qualify for PSLF Student Loan Forgiveness!

What Counts as a Qualifying monthly payment under the Public Service Loan Forgiveness Program?

A qualifying monthly payment consist of any payments that you make:

  • after Oct. 1, 2007
  • under a qualifying repayment plan
  • for the full amount due as shown on your bill
  • no later than 15 days after your due date and
  • while you are employed full-time by a qualifying employer

What counts as a qualifying repayment plan for Public Service Loan Forgiveness?

Any income driven repayment plan such as:

  • PAYE - Pay AS You Earn 
  • IBR - Income Based Repayment 
  • ICR - Income Contingent Repayment 
  • ISR -  Income Sensitive Repayment

What not-for-profit organizations qualify as eligible employers for the Public Service Loan Forgiveness Program?

Eligible not-for-profit organizations include:

  • Emergency management
  • Military service 
  • Public safety
  • Law enforcement
  • Public law services
  • Childhood education
  • Public service for individuals with disabilities and the elderly

Public health: includes nurses, nurse practitioners, nurses in a clinical setting, and full-time professionals engaged in health care practitioner occupations and health support occupations, as such terms are defined by the Bureau of Labor Statistics

Public education: includes services that provide educational enrichment or support directly to students or their families in a school or a school-like setting:

  • Public library services
  • School library or other school-based services

Are loan amounts forgiven under PSLF considered taxable by the IRS?

According to the (IRS), student loan DEBTS forgiven under Public Service Loan Forgiveness are not considered income for tax purposes. For more details, check with the IRS or a CPA.

Call  844-323-3328 to see if you qualify for PSLF Student Loan Forgiveness!

How Does Income Determine Eligibility For (PSLF)?

Not directly, but your income is a factor in determining your required monthly payment amount under the Income-Based Repayment (IBR) Plan, Pay As You Earn Repayment Plan, and the Income Contingent Repayment (ICR) Plan, the three PSLF-eligible repayment plans that are the most likely to leave you with a remaining loan balance to be forgiven after you have made 120 qualifying payments.

We Encourage you to act soon due to the high demand this program may not be around. Call us today so that we can lock you in before Congress changes the guidelines.

Simply complete the short form above or call us at  844-323-3328!