How to get your student loans forgiven through PSLF

How to get your student loans forgiven through PSLF

To get your debt forgiven under PSLF, you must first complete the following standards.

  • Work for a qualifying U.S. government agency (federal, state, municipal, or tribal), a 501(c)(3) non-profit, or volunteer with AmeriCorps or the Peace Corps.
  • Have Direct Loans or Consolidation Loans.
  • Enroll in an income-driven repayment plan.
  • Make eligible payments for a minimum of 20 to 25 years.

Borrowers with commercial or federally held FFEL Loans must apply for a Direct Consolidation Loan by April 30, 2024 to be eligible for credit under the payment count changes.

If you believe you are qualified, apply for the program through the Department of Education’s website. You can also seek a Temporary Expanded PSLF form if some or all of your payments were not paid through a qualifying PSLF repayment plan. Please complete this form as soon as possible, since you may be eligible for loan forgiveness under this temporary arrangement.

News: Biden has just forgiven $5.8 billion in student debt: Here’s who benefits

Cancellation builds upon program amendments

Building on President Biden’s vow to provide as much federal student debt relief to Americans as feasible, today’s announcement results in unprecedented levels of forgiveness. Prior to the administration’s ongoing efforts to reform the PSLF program, only 7,000 borrowers achieved forgiveness – 2% of those registered.

President Biden has been able to provide relief to enrolled borrowers through the Higher Education Act, despite the fact that the Supreme Court overturned the administration’s prior cancelation bill last year.

New PSLF standards were adopted in April 2022, following a brief PSLF waiver that expired in October 2021. The new rules change how payments toward forgiveness are accounted for, making it easier to obtain forgiveness. According to the Education Department, this change is now being implemented and will be finished by July 1, 2024.


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