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!

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