Does Public Service Loan Forgiveness Really Work?

Public Service Loan Forgiveness (PSLF) was a program designed by the Federal Government to “Forgive” the student loans of those who worked in public service industries after 120 qualifying payments

Public Service Loan Forgiveness is Confusing

For starters, the PSLF program is confusing. Student loan borrowers must become student loan experts to understand if they even qualify.

Public Service Loan Forgiveness Programs Could Be Cut

The budget proposal included cuts to income based repayments and billions in grants according to, Student Loan Hero. 

Colleges Market PSLF

One of their marketing tactics is to promote student loan forgiveness to prospective students especially in the fields of criminal justice, education and even nursing.

Should you wait for loan forgiveness?

Using the Income Based Repayment program, borrowers could make payments for 20 years then have their balance forgiven.

Calculate your student loans

Take your monthly minimums multiplied by 120, the required number of PSLF payments, to see how much you would pay over the course of 10 years. 


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