Individuals who are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, may be eligible for the Public Service Loan Forgiveness Program. This program forgives the remaining balance on your direct loans after you have made 120 qualifying monthly payments while working full-time for a qualifying employer. So, that means that you cannot have your loans forgiven immediately. If you make a payment every month for 10 years, you are able to apply for the program.
- Be employed and work full-time for a U.S. federal, state, local, or tribal government or not-for-profit organization
- Have direct loans
- Repay your loans under an income-driven repayment plan
- Make 120 qualifying payments