Do you have a public sector job or are employed by a qualified charity? Do you have a federal student loan taken out directly from the Department of Education (as opposed to a FFEL loan through a servicer like Sallie Mae) or a FFEL loan consolidated after that date? Then you might be eligible for a program called Public Service Loan Forgiveness (PSLF).

What Is Public Service Loan Forgiveness?

What is PSLF? It is a program created by Congress in 2007 in order to encourage people to enter and continue to work full-time in public service jobs. If you qualify for an income based repayment program (IBR or ICR) that allows you to extend your loan payment term past ten (10) years, it allows you to make 120 monthly payments on your loans and then discharge any unpaid balance!

How Do I Qualify?

In order to qualify for this program, you must

What's even better, any payment made starting July 1, 2007, while meeting these requirements, counts towards the 120 payments even before you have enrolled in the program!

This is great for teachers who have lots of student loan debt from a college and graduate school degree who need help affording the payments.

So What Do I Do?

If you are looking for a solution to your student loan problem and wondering if there is one, then there is a great way to find out for free! Just click here to provide me with all the details on your loans. I will then, for free and with no obligation on your part, look at your situation to see if I can provide you with a way to deal with them. If there isn't one, it didn't cost you anything. If there is, then I will contact you to schedule an analysis session with my office to lay out a plan of action.

If you would like more information about student loans, you can dowload my free book, I Graduated; Now What? A Guide to Dealing with Your Student Loans.

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Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.