What is Public Service Loan Forgiveness (PSLF)?
PSLF is an abbreviation that stands for Public Service Loan Forgiveness.
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your loans after you make 10 years of qualifying payments.
In order to be eligible for PSLF, you must work over 30 hours per week for an eligible employer. Only certain types of loans and repayment plans qualify for PSLF. Qualification for PSLF is through the United States Government. Borrowers are not required to pay income tax on loan amounts that are forgiven through PSLF.