Employees of government or non-profit organizations may be eligible to receive loan forgiveness under the Public Service Loan Forgiveness Program. To qualify employees must;
- Work for a qualified 501c3 non-profit such as Family & Children’s Services.
- Have made 120 loan payments (10 years) while employed by a 501c3 non-profit.
- Loan payment history cannot include any late payments more than 15 days past due date.
- Loan payments have to be made while working full-time (at least 30 hours/week) for a qualifying employer. This can include multiple qualifying employers.
- Qualifying payments are payments made after October 1, 2007.