Full list of jobs that qualify for student loan forgiveness

THE cost of a college education remains an investment which can take years, sometimes decades, to pay off.

Today’s college student graduates with an average federal student loan debt of $37,113, according to EducationData, but there is a way to have your student loans forgiven.

Through the Public Service Loan Forgiveness (PSLF) program, your student loan debt can be wiped clean.

PSLF is a federal program created in 2007 under the College Cost Reduction and Access Act (CCRAA).

It forgives the remaining balance on direct federal loans after a you make 120 qualifying monthly payments while working for a qualifying employer.

Who is eligible?

To qualify for PSLF, you must work full-time for a government agency or for certain types of nonprofit organizations.

Eligible loans include federal direct loans and federal loans that were consolidated into a federal consolidation loan.

To benefit from PSLF, you will have to change to an income-driven repayment plan.

Qualifying repayment plans include all income-driven repayment plans:

• Revised Pay As You Earn Repayment Plan (REPAYE)
• Pay As You Earn Repayment Plan (PAYE)
• Income-Based Repayment Plan (IBR)
• Income-Contingent Repayment Plan (ICR Plan)

Once you switch to an income-driven repayment plan, PSLF will forgive your loan balance after you make 120 qualifying payments.

Payments are considered qualified if you’re working at an eligible job when you make them.

Private student loans, Federal Family Education loans and Federal Perkins loans are not eligible for public service loan forgiveness.

Which jobs qualify for public service loan forgiveness?

Here is a list of jobs that qualify for PSLF:

• Emergency Management
• Government (excluding time served as a member of Congress)
• Military service
• Public safety
• Law enforcement
• Public health
• Public education
• Social work
• Public interest law services
• Early childhood education
• Public service for individuals with disabilities
• Public service for the elderly
• Public library sciences
• School-based library sciences and other school-based services
• 501(c)(3) tax exempt organizations
• Teaching as a faculty member at a tribal college or university
• Teaching as a faculty member in a high-need subject area or shortage area
• Volunteering full-time for the AmeriCorps or Peace Corps

Once you’re ready to apply for PSLF, you will need to complete and submit the Public Service Loan Forgiveness Certification and Application form.

The Sun reveals a list of companies that will pay workers’ student loans.

Plus, when student loan payments start in 2022.

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