Public Service Loan Forgiveness
All incoming and current Humphrey School students are encouraged to familiarize themselves with the Public Service Loan Forgiveness (PSLF) Program. Most Humphrey School graduates pursue careers in the public and/or nonprofit sectors, and as a result, may qualify this program.
Participants who are employed in certain public service jobs and have made 120 on-time payments on their Direct Loans (after October 1, 2007), may have their remaining balance forgiven. Only payments made under certain repayment plans (IBR, ICR, or PAYE) may be counted toward the required 120 payments. Participants must not be in default on the loans that are forgiven. Federal Family Education Loan (FFEL) Program and Federal Perkins Loans may be consolidated into a Direct Consolidation Loan and payments made after consolidation may be counted towards qualifying PSLF payments.
Qualifying employment is any employment with a federal, state, or local government agency, entity, or organization or a nonprofit organization that has been designated as tax-exempt by the Internal Revue Service (IRS) under Section 501(c)(3) of the Internal Revenue Code (IRC).
More information on the Public Service Loan Forgiveness Program can be found here.