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Funding of Public Service Loan Forgiveness

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Joined 2012-02-07

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Do you know if under the Public Service Loan Forgiveness program it is 100% of your loan that is forgiven? It was my understanding that only a portion or percentage of the borrowers payments are forgiven.  Do you know how that works or how that is calculated?  Thanks.

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Total Posts: 604

Joined 2011-03-30

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Well, nobody earns PSLF before making payments on their loans for at least 10-years.  And PSLF is all or nothing, so if a borrower makes the right kind of payment, on the right kind of loan, while working in the right kind of job, 120 times, and proves all that to the satisfaction of the government, the entire remaining principal and interest is forgiven.