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Public Service Loan Forgiveness
The Public Service Loan Forgiveness (PSLF) program is available only for federal loans held with the U.S. Department of Education's Direct Loan Program. If you have federal education loans with VSAC (which are part of the Federal Family Education Loan Program or FFELP) and want to pursue PSLF, you will need to consolidate with the U.S. Department of Education's Direct Loan Program.
Private education loans are not eligible for the PSLF program.
The PSLF program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments while working full-time for a qualifying employer. Payments made on your FFELP loans with VSAC (or any other FFELP servicer) do not count toward the 120 qualifying monthly payments for PSLF.
If you aren't sure if your employer qualifies, you can use this tool to check (you will need your employer's Federal Employer Identification Number, which you can find on your IRS Form W-2): StudentAid Employer Search
Additional Information and Next Steps:
- You can find more information about PSLF here: StudentAid Public Service
- To learn more about consolidation, please go to: StudentAid Manage Consolidation
- If you decide to consolidate, you will need an FSA ID to submit a consolidation application online. You can create an FSA ID here: StudentAid Create Account
- Once you have your FSA ID, you can submit your consolidation application here: StudentAid Consolidation
Remember that you never need to pay to pursue federal student loan forgiveness! Check out our blog post for more information and resources to avoid being scammed.