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Public Service Loan Forgiveness
On Jan. 31, 2012, a discussion on the Public Service Loan Forgiveness (PSLF) Program was held at UMB. During the discussion, U.S. Department of Education Under Secretary Martha Kanter and U.S. Rep. John Sarbanes of Maryland introduced a new Employment Certification Form to help borrowers track their progress toward PSLF.
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on Direct Loans after the borrower has made:
- 120 qualifying monthly payments
- under a qualifying repayment plan
- while working full-time for a qualifying employer
For detailed information on eligibility requirements, please visit the Public Service Loan Forgiveness page on the U.S. Department of Education’s website.
If you have questions about repayment plans for your federal student loans, you may contact your financial aid counselor to schedule an appointment.