Student Loans: Public Service Loan Forgiveness

With the skyrocketing cost of tuition and the frustrations of an economy trying to turn-around, there should still be a glimmer of hope for many students going into public service jobs.

In 2007 the Public Service Loan Forgiveness Program (PSLF) was created by Congress to encourage full-time employment in public service jobs. New income based payment plans were introduced and, under certain conditions, a borrower may qualify for forgiveness of their loans after 10 years of payments.

Today, the Department of Education further clarified the requirements by releasing the Employment Certification Package to help borrowers track their progress toward PSLF. Materials in the package include;

• Letter to Borrower
• Instructions for the form, and
• Employment Certification for Public Service Loan Forgiveness form

For more information about federal financial aid visit: www.studentaid.ed.gov