Tag Archives: LoanForgiveness

What Are Some Common Public Service Loan Forgiveness Mistakes?

If you are a full-time employee in a government agency or eligible not-for-profit organization, you may be able to qualify for student loan forgiveness after making 120 qualifying payments over 10 years. This is due to the Public Service Loan Forgiveness Program, or PSLF. Loan forgiveness, however, has a number of requirements that you must meet in order to receive it. There are a few mistakes people make that prevent them for qualifying. Mistake #1: You Did Not Enroll in An Income-Driven Repayment Plan You only qualify for PSLF if you enroll in and pay under an income-driven repayment plan. Most people who are enrolled in these plans see a deduction in their monthly payment amount anyway. Mistake #2: You Missed a Loan Payment Your payment will not qualify if it is more than 15 days late. So, make sure you are staying on top of your payments while working…
Read More »

Posted in Student Loans | Tagged | Leave a comment