Share this: Public Service Student Loan Forgiveness

“If you work full-time in a public service job, you may qualify for Public Service Loan Forgiveness.”

Is your organization working to keep good people? Demographic data tells us that millennials have record levels of student loan debt in proportion to their income. But, they aren’t alone. Some nonprofit staff are required to get degrees for which there is little financial return on investment. 

Ideally, your organization works to provide financial security for its most valuable assets: human resources.

Perhaps, though, the Federal Student Loan Forgiveness program will provide you, your staff, colleagues, or nonprofit-employed friends and family some needed relief. 

PS – You might also find the alternate payment methods useful. My personal household budget is greatly relieved by a several hundred dollar monthly reduction in my repayment because I use a plan based on my income. Enrollment has been painless and annual eligibility confirmation works seamlessly with filing my taxes. – Lettie

Click on the image or follow the link above to discover additional options and check eligibility.

“What must I do to have any remaining balances on my Direct Loans forgiven under the PSLF Program?”

  • You must make 120 on-time, full, scheduled, monthly payments on your Direct Loans. Only payments made after October 1, 2007 qualify.
  • You must make those payments under a qualifying repayment plan.
  • When you make each of those payments, you must be working full-time at a qualifying public service organization.

Click over to the Federal Student Loan Forgiveness to explore and see more answers to questions like these:

  • What must I do to have any remaining balances on my Direct Loans forgiven under the PSLF Program?
  • What loans are eligible for forgiveness?
  • What is a qualifying repayment plan?
  • What kinds of employment qualify?
  • How can I keep track of my eligibility?
  • What should I do after I become eligible for PSLF?

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