Apply for Public Service Loan Forgiveness After completing 120 verified PSLF payments through certified employers, you can apply for loan forgiveness by completing anECF formand checking that you believe you are eligible for PSLF. Then, you wait for your paperwork to be processed.
People also ask
How does public service loan forgiveness work?
How Public Service Loan Forgiveness Works To qualify for PSLF, you must be employed in government or a 501 (c) (3) nonprofit job. Also, your loans must be in a qualifying income-driven repayment plan. Each full, on-time payment made while satisfying these requirements will count toward the required 120 payments for forgiveness. 1
How do I apply for student loan forgiveness?
To qualify for forgiveness, I must be employed full-time by a qualifying employer when I apply for and get forgiveness. 3. By submitting this form, my student loans held by the Department may be transferred to FedLoan Servicing. 4.
How to apply for PSLF loan forgiveness?
After making 120 monthly payments and while still working for a qualified employer, the borrower must submit the PSLF forgiveness form to apply for loan forgiveness. Once the servicer verifies payments, the remaining loan balance is forgiven. How To Qualify for PSLF Borrowers will need to meet several requirements to qualify for PSLF.
How do I transfer my student loans to FedLoan Servicing?
By submitting this form, my student loans held by the Department may be transferred to FedLoan Servicing. 4. If the Department determines that I appear to be eligible for forgiveness, the Department may contact my employer before granting forgiveness to ensure that I continue to work for the employer.