Lawyer Public Service Loan Forgiveness
While the timeline for forgiveness is longer than other federal options your total balance could be forgiven making it a compelling option to consider.
Lawyer public service loan forgiveness. Eligible employment includes positions in the government and nonprofit sectors. The public service loan forgiveness program forgives your remaining federal loans once you ve made 120 qualified payments while working for a qualified employer. The following definitions apply to this section.
Public service loan forgiveness pslf is a critical program for millions of student loan borrowers. On this page we offer some helpful tips and best practices compiled from the department of education loan servicers advocacy groups and some of our very own lrap participants. Public service loan forgiveness why it exists.
To receive this type of student loan debt forgiveness you must make 120 qualifying monthly payments on an eligible federal student loan while employed full time by a qualifying public service employer. The american bar association was a leader in the effort to enact and implement the public service loan forgiveness program pslf section 401 of p l. Help preserve the public service loan forgiveness program pslf which enables law school graduates and other professionals to embark upon and remain in less remunerative public service careers by offering partial student loan forgiveness for a service commitment of ten years.
But the program has been riddled with problems. The public service loan forgiveness program is intended to encourage individuals to enter and continue in full time public service employment by forgiving the remaining balance of their direct loans after they satisfy the public service and loan payment requirements of this section. The trade off is that law school loan forgiveness programs are.
The public service loan forgiveness pslf program was created to encourage graduates to enter into full time public service employment. Student loan law as well as various law. For more information please contact cheryl constantine director of financial aid or diana beaudoin assistant director of financial aid at 617 353 3160 or bulawaid bu edu.
Public service loan forgiveness basic information public service loan forgiveness in depth questions answers public service loan forgiveness pslf help tool. Public service loan forgiveness pslf are you considering a career in public service and want to utilize public service loan forgiveness pslf. Public service loan forgiveness for lawyers.