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Qualifying for Public Service Loan Forgiveness: A How-To Guide

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Published in BenefitsWise

Public Service Loan Forgiveness (PSLF) offers debt relief to those in public service jobs. Here’s how to qualify:Understand Eligibility: PSLF applies to federal Direct Loans and requires you to work for a qualifying employer.

Choose the Right Repayment Plan: Income-driven repayment plans are generally the best choice for PSLF.

Certify Employment: Regularly submit Employer Certification Forms to confirm your public service employment.

Make Timely Payments: You must make 120 qualifying payments to be eligible for forgiveness.

Track Progress: The Department of Education provides tools to help you track your qualifying payments.

 

Consult Your Loan Servicer: They can help ensure you’re on track for forgiveness.

Apply for PSLF: After making 120 payments, submit your PSLF application.

Understanding the nuances of PSLF can pave the way to loan forgiveness and financial freedom.

Note: These articles are not a substitute for professional financial or legal advice. Always consult professionals for your specific needs.


This article was generated by Open AI with human guidance and editing along the way.

 

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