The Relationship Between Your Income and Public Service Loan Forgiveness


Eligibility Requirements

1. You must work for a qualifying employer for at least 10 years

A “qualifying employer” includes any government organization, 501(c)(3) nonprofits, AmeriCorps or the Peace Corps or nonprofit organizations that don’t have 501(c)(3) status but provide a qualifying public service as their primary purpose.

2. You must have Direct loans and/or Direct Consolidation loans

3. You must make 120 separate payments under an eligible repayment plan

4. Your monthly payment under IDR must be less than your monthly payment under the standard plan if you want to receive forgiveness



Scenario 1

Scenario 2

Scenario 3

Scenario 4

Scenario 5