February 26, 2021

Which Jobs Qualify for Public Service Loan Forgiveness?

Forgiveness

On average, student loan borrowers owe $33,000 in student loan debt, totaling over 1 trillion and counting for all borrowers summed together. 

It’s depressing to think about how and why this happened, and unfortunately, the student loan debt crisis isn’t going away anytime soon.

However, if you work in public service, you could have the option to say bye-bye to a considerable chunk of your debt through the Public Service Loan Forgiveness (PSLF) program. Continue reading to learn which jobs qualify and how you can apply.

What is the Public Service Loan Forgiveness (PSLF) program?

The Public Service Loan Forgiveness (PSLF) Program is a snippet of the College Cost Reduction and Access Act of 2007 (CCRAA). It is also one of the four teacher loan forgiveness plans available to educators. PSLF’s goal is to forgive a part of a public service employee’s student loan debt once they satisfy its requirements.

Requirements and What To Expect

Multiple factors can affect a person’s qualification for PSLF. You can learn more about these qualifications from our blog The Ultimate Guide To Student Loan Forgiveness. But, here are the two primary requirements that you must meet before you can apply: 

  1. You’ve made 120 monthly payments while enrolled in an income-driven repayment plan.
  2. You’ve worked full-time (at least 30 hours per week) for a qualifying public service employer, while you made the 120 monthly payments.

If you think you already meet these requirements, you can apply!

  • You’ll submit your PSLF application and Employee Certification Forms to Fedloan. (The servicer that services all PSLF related forms and applications). 
  • Fedloan will then review and either approve or deny toys PSLF application, based on the information provided.
  • If you are approved, Fedloan will let you know by letter that the remaining balance of your debt will be forgiven.
  • If you’re denied, Fedloan will detail the reasons for your denial and you’ll then be allowed to reapply.

Qualified Public Service Employers

But first, let’s make sure that your employer is qualified as public service. Can you answer yes to any of the questions below?

  • Are you employed by the government?
  • Are you employed by a 501(c)(3) non-profit organization? Some examples include private and charter schools.
  • Are you employed by the Peace Corps or AmeriCorps?

Still not sure? Common jobs and careers that are eligible for PSLF are:

  • University, community college, public school, and public library employees
  • Public school teachers and teacher assistants
  • Military personnel, firefighters, and police officers
  • Federal agency employees
  • Non-profit hospital employees and medical professionals

For a more complete list of common jobs that qualify for PSLF, read our blog here: Does your Job Qualify for PSLF?

Ready to Apply?

Get the forgiveness you deserve! You can apply by downloading the PSLF application and Employee Certification Form (this will need to be completed and signed by each employer you’ve worked for during the 120 monthly repayment period), once the application and form(s) are completed and signed, you submit them to Fedloan. 

Or, Chipper can help by filling out the application and form(s) for you, making sure they’re filed correctly and submitting them on your behalf. And if you are denied for not having met all of the requirements for PSLF, we’ll do everything we can to get you on the right track! 💜


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.

See How Much You Can Save with Round-Ups

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