Explained: Student Loan Forgiveness for Government and Non-Profit Employees

11Apr
by La Comadre

It’s reported that 46 million people in the United States have student loan debt and a recent 2019 study found that the average student loan debt is $28,950. Now, according to the US Department of Education, over 100,000 of those individuals are eligible for student debt cancellation. 

Comadre, do you have outstanding student loans? Are you an employee of a Federal, State, local or tribal government? Do you work for a nonprofit organization? If you are an employee of a government entity or non-profit, you may be eligible for the Public Service Loan Forgiveness (PSLF) student debt relief program. And if you do qualify for the program, you’ll be able to cancel the balance of your existing student loans!

To be eligible for PSLF, you must meet the following 3 main requirements:

  1. be a full-time employee of a qualifying agency or organization
  2. have a direct loan or federal student loan
  3. made 120 qualifying payments toward the loan under an income-driven payment plan

Comadre, do you qualify for PSLF? Have you already been through the process? If you have, comment below on some advice for other Comadres applying for PSLF.
To read more about eligibility for this program, check out the website.

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La Comadre

We are Moms, Tias, Ninas and Play-Tias who love children in our lives and we want to help every child succeed in school. Navigating schools and education—from preschool to college—is hard. We want to help each other with this. We are all in this together with you. We want to be a resource for you and for all of the children you love. Whether you need some info or you have info to share, you know where to go…LA Comadre.

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