Each spring, thousands of college students graduate with student loan debt. There are many programs designed to encourage public essay writing service by offering student loan forgiveness. Public Service Loan Forgiveness (PSLF) is a program that allows borrowers to have their student loans forgiven after 10 years of public service employment.
What Is the Public Service Loan Forgiveness Program?
Congress signed Public Service Loan Forgiveness into law in 2007. The goal was to encourage bright college graduates to accept positions in public service jobs that traditionally do not pay as well as similar positions in the private sector. The program recognizes the value of full-time employment with federal, state, or local governments or non-profit organizations and offers an incentive to long-term employees in these fields.
How Can I Qualify?
Borrowers can have the balance of their student loans forgiven if they:1. 1. Work full-time for a qualifying pubic service agency.2. 2. Make 120 qualifying payments on their student loan balances after October 2007.Borrowers will need to provide certification of full-time employment at a public service organization and proof of payment of the 120 on-time qualifying monthly student loan payments.