Public Service Loan Forgiveness (PSLF)

The public service loan forgiveness (PSLF) program is designed to reward people who commit to a variety of work. This program is available to People who:

• Work for 501c3 non-profits
• Work for the military
• Work for the government

Public service loan forgiveness (PSLF) programs are meant to relieve the person of their student loans when they have participated in providing services that benefit others or the country.

Public service loan forgiveness (PSLF) may require you to have worked for a qualifying organization for a certain amount of time, such as ten years full-time at a 501c3 non-profit organization. This program may require a variety of documents to prove your work history, employment duration or military service. You will need to read the requirements carefully. Good websites will help you with this understanding and prepare the documents quickly and easily at affordable pricing. Different programs require different documentation which can take time to assemble if done on your own.

Attaining public service loan forgiveness (PSLF) rarely has tax implications. Debt consolidators and other companies often recommend programs that may reduce your debt but may lead to tax implications. In fact, you will probably never hear a consolidator or servicer even mention tax implications leaving you exposed and making decisions without the proper information. It is always good to confirm tax repercussions when resolving your student loan concerns.

When preparing documents for public service loan forgiveness (PSLF), be wary of other sites which do not advertise their price. Many of them refuse to tell you the documentation preparation price until after they figure out how desperate you are or what your financial situation is. This is almost predatory because they seem to judge how much they can get from you instead of being transparent about their fees.  If you experience this, you should run. Proper services should keep the document preparation fees below $100 regardless of what documentation you need.