Student Loan Forgiveness For Firefighters

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How To Qualify for Firefighter Student Loan Forgiveness

Qualification is based on the following criteria:

  • Must be employed full-time as a fire fighter
  • Must work for local, state or federal fire departments

How it Works

  • All remaining federal student loanbalance 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

Full-time firefighters 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.

About The Author

George Morris

In his 40-plus-year newspaper career, George Morris has written about just about everything -- Super Bowls, evangelists, World War II veterans and ordinary people with extraordinary tales. His work has received multiple honors from the Society of Professional Journalists, the Louisiana-Mississippi Associated Press and the Louisiana Press Association. He avoids debt when he can and pays it off quickly when he can't, and he's only too happy to suggest how you might do the same.