The Public Service Loan Forgiveness Program offers an opportunity to eliminate student loan debt to employees in the public and nonprofit sectors.
Workers in those fields can fill out the Public Service Loan Forgiveness application. This is also called the Public Service Loan Forgiveness form.
Let’s take a closer look at the requirements to qualify for PSLF and how to successfully complete an application. Check out our broad overview of PSLF for more useful info.
Student Loan Forgiveness for Public Service: The Basics
You don’t want to waste your time filling out a PSLF form if you don’t qualify.
To receive consideration for approval, you must:
- Work full-time, and for 10 years total, for a qualifying public service entity: a local, state, federal, or tribal government entity or nonprofit.
- That includes everything from a local public works department or qualifying regional charity to the US Department of Education and Armed Forces.
- Have federal student loans through the William D. Ford Federal Direct Loan Program, or consolidate other federal loans into that direct loan program.
- The DOE explained that a private student loan, Federal Family Education Loan, or Federal Perkins Loan does not qualify. However, it is possible to consolidate the last two loan types through the Direct Loan program.
- Make 120 qualifying payments, on time and in full during your loan term, into an income-driven repayment plan while working for a qualified employer.
If you meet these conditions, you can have the rest of your student loan debt waived!
Review the DOE’s FAQ page on PSLF for more details. If you need more support, try the DOE’s Public Service Loan Forgiveness phone number: 1-855-265-4038.
Key Needs for Your Public Service Loan Forgiveness Application
The DOE recommends submitting the PSLF form annually, as well as whenever you change employers. This helps the DOE keep records of your time in public service and can make the final application process much easier.
You may be surprised to learn the form is relatively brief. That makes it easier to complete, saving you time in the long run.
The PSLF form requests the following information for each employer:
- Organization name
- Federal Employer Identification Number
- Address
- Website
- Starting and ending dates of your employment
- Employment status
- Average hours worked per week
- Employer certification of information provided
If your employer is not a government organization, you’ll have to provide additional information. That includes not-for-profit eligibility and the specific type of public service the entity engages in.
Make Certifying That Much Easier
Are you struggling with public service loan forgiveness processing? Let QuickConfirm help you manage your public service loan forgiveness requests by verifying that the form is completed, signed, and dated. We’ll even distribute it, at no cost, to the employer to finalize! Request a demo or learn more about QuickConfirm to get started!