Public Service Loan Forgiveness
Happy Tuesday, Foresters!
Today I wanted to write a little bit about Public Service Loan Forgiveness (PSLF) for federal loans. If you borrow federal subsidized, unsubsidized, or graduate loans and plan to work for a nonprofit or government employer in the future, you may qualify for the PSLF program.
The basic idea is that after making 120 monthly payments on an income-based repayment plan, any remaining balance due on your federal loans is forgiven. PSLF is something that you will sign up to participate in within 6 months of graduation (although you can always sign up later, as well) if you decide you are interested in and qualify for the program.
PSLF can feel like an overwhelming topic, and there is certainly a lot of information that you need to know if you are considering this option for repayment. It is not the best option for everyone. However, there are a variety of sources and people available to help you make the best repayment choice for your future goals, so you are not in this process alone!
If you would like to learn more about PSLF, visit StudentAid.Gov and peruse the available information. If you have any questions after reading through the information on the website, please feel free to reach out to me or to your loan servicer directly.
Your presence is missed on campus and HU staff, faculty, and administration are praying for you every day!
Stay safe and healthy, Foresters! Spring semester will be here before you know it.
Lisa Montany in Financial Aid
Posted By: The Office of Financial Aid
