May 26, 2021

How To Apply For Student Loan Forgiveness


If you have an outstanding balance on your student loan, there is some good news for you — you can apply for student loan forgiveness. Student loan forgiveness can put you in a position to remove the financial burden from your list of liabilities.

However, as you may have seen, the internet is not always helpful. In particular, “how-to” guides on student loan forgiveness are not exactly abundant. For this reason, many are at a standstill when trying to apply for student loan forgiveness programs like the PSLF.

Nonetheless, here’s more good news — you’re about to learn how to apply for student loan forgiveness. Keep reading to learn the steps on how you can get your outstanding student loan balance removed!

Step #1: Determine Your Eligibility

Before taking steps to apply for student loan forgiveness, you need to know if you are eligible. Eligibility for the Public Service Loan Forgiveness (PSLF) is based on several factors. Among them are:

Full-Time Employment With a Qualifying Employer

Full-time employment is at least 30 hours a week. Your employment also needs to be with a qualifying employer. Qualifying employers are:

  • Government organizations at all tiers of government
  • Tax-exempt non-profit organizations
  • AmeriCorps
  • Peace Corps
  • Contractors working for the above-mentioned

It is also possible to qualify if you work for two qualifying organizations on a part-time basis. This would still be considered full-time employment with a qualifying employer. You can verify the status of your past and current employers using the PSLF Self Help Tool.

Payment Requirements

Qualifying for the PSLF may take 10 years because of the payment requirement. At the time of writing, you need to have made 120 monthly qualifying payments to qualify for PSLF. Qualifying payment methods like income-driven repayment need to be the source of these payments.

You should also work for qualifying employers for each month you make the 120 payments.

Step #2: Secure Certain Documents

You will need two pieces of documentation to apply for student loan forgiveness using the Self Help Tool. These documents verify your employment status.

You will need W-2 forms from your current employer. As much as possible, you also need a W2 form for each qualifying employer you have been with. You also need to have your current employer’s Federal Employer Identification Number (FEIN).

Having the FEIN is crucial as this is one of the pieces of information you need to input into the Tool.

Step #3: Fill Out The PSLF Self Help Tool

The PSLF Self Help Tool is an online form for student loan forgiveness applications. You need to place accurate information about:

  • Your work history
  • Your employers
  • The payments you have made

Once you have filled out all the necessary fields, your payment history will be shown. From here, a PSLF servicer will review your application and determine your eligibility.

Completing the form will also show you if you qualify for the PSLF or the Temporary Expanded Public Service Loan Forgiveness (TEPSLF). The TEPSLF is another loan forgiveness program for those who do not qualify for the PSLF.

Often, the reason for disqualification is a non-qualifying payment.

Final Thoughts

This all may seem overwhelming to take in at once. This complicated process often leads to 99% of applicants being denied of a forgiveness program. At Chipper, we intend to change that. Utilizing our service, we help users properly file their documents and find the best potential repayment option for them! We help manage getting your loans ready for applying and streamline your repayment journey. Currently, 1-in-4 users at Chipper are eligible for forgiveness, of those users, we've averaged $10,407 in immediate loan forgiveness. Click here to get started finding the best repayment journey for you!

Use Chipper for Lower Payments

Chipper can help you find a student loan repayment plan that actually fits into your budget. You simply fill out your information and link your student loan account for us to generate your options in seconds. We help the average student loan borrower save over $300 a month off their student loan monthly payment. Lowering your monthly payment plan can game changing for your personal finance and can be done in minutes! Sign up for Chipper today to get on track with your student loans.

Use Chipper for The Best Path to Forgiveness

Finding your path to student loan forgiveness is easier than ever before. Chipper helps members find better Income-Driven Repayment (IDR) plans every day. Once enrolled in an eligible repayment plan, we can help you explore your forgiveness options and understand your path towards forgiveness. Sign up with Chipper today and get on track with your student loans.

Use Chipper for Round-Ups

Paying off your student loans doesn’t have to be a long and painful journey. Round-Ups are a way to directly pay off your loans with your everyday spending! By tracking your linked spending account(s), we will calculate the rounded up amount from each transaction in a week (IE spending $4.28 would add $0.72 to the weekly amount). We then initiate a payment towards your student loan for the weekly amount. Get chipping away on your student loans with Chipper today.

Use Chipper for Public Service Loan Forgiveness (PSLF)

The Public Service Loan Forgiveness (PSLF) program was created to provide relief to borrowers aiding the public sector. Unfortunately, 30% of applicants are denied due to incorrect paperwork. We can help! Chipper was created to solve this issue by assisting borrowers in understanding their options as well as allowing forgiveness eligible users enroll into the best forgiveness program available. Sign up for Chipper today to see your student loan forgiveness options and get the forgiveness you deserve.

Use Chipper for Teacher Loan Forgiveness (TLF)

The Teacher Loan Forgiveness (TLF) program was created to enable teachers working in Title 1 schools to receive student loan forgiveness of up to $17,500 (depending on their teaching subject). Chipper has helped teachers from all over the country qualify for TLF program and can help you get the forgiveness you deserve today. Find out if you qualify for forgiveness in minutes with our employer search tool.

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