Qualification for the Public Service Loan Forgiveness Program is based on the following criteria:

  • Must be a full-time law enforcement or corrections officer
  • Must be employed by a local, state or federal law enforcement or corrections agency or facility that is publicly funded

Steps to Loan Forgiveness

  • Your federal student loan balance is forgiven after 120 on-time qualifying payments
  • Combine with Income-Based Repayment plan to significantly reduce your monthly payment
  • Convert ineligible loans with a direct consolidation loan, achieve one convenient monthly payment

Make Your Loans Eligible Through Consolidation

Only Direct Student Loans and Direct Consolidation Loans are eligible for the Public Service Loan Forgiveness program. If you have ineligible federal loans, you can consolidate them into Direct Consolidation Loans to make them eligible for loan forgiveness. We’re here to help you understand your current loan situation as well as your consolidation options. Call today.

A qualified payment is any payment made under the following repayment plans:

  • Income-based repayment
  • Income-contingent repayment
  • Pay as You Earn
  • Standard Repayment (If you remain on a Standard Repayment program for 10 years, your entire debt will be paid in full. You may still want to enroll in PSLF and get credit for these qualifying payments in case you switch to another payment plan during the term.)
  • Federal Perkins Loan Cancellation

This option is available for Perkins Loans only.

How to Qualify for Perkins Loan Cancellation

  • Must be a worn law enforcement officers
  • Or can be a person whose principal responsibilities are unique to the criminal justice system
  • Those with administrative duties within law enforcement do not qualify
  • Must be employed by a local, state or federal law enforcement or corrections agency or facility that is publicly funded

Full-time law enforcement and corrections officers are eligible for 100% loan forgiveness under the Federal Perkins Loan Cancellation program for service that includes August 14, 2008 and after.

Cancellation happens after 5 years, as follows:

  • Year one: 15% cancellation
  • Year two: 15% cancellation
  • Year three: 20% cancellation
  • Year four: 20% cancellation
  • Year five: 30% cancellation

If you have a Federal Perkins Loan, you must apply to the school that made the loan or to the loan servicer the school has designated. If you have any questions on Perkins Loan cancellation, contact the school or loan servicer.

Call 1-800-250-3333 for help with your student loans.