Qualifying companies consist of:
- Federal Government businesses at any known level(federal, state, regional, or tribal)
- Tax-exempt, nonprofit companies
- Other kinds of nonprofit companies that aren’t tax-exempt if their main function is just a qualifying service that is public like general general public health, and
- AmeriCorps or Peace Corps, if you’re portion being a volunteer that is full-time.
PSLF relates to borrowers who’ve been having to pay on a repayment that is income-driven for a decade, and just Direct Loans meet the criteria.
Income-driven repayment plan forgiveness
Student loan forgiveness for certain jobs
Some careers provide education loan forgiveness either through a federal, state or regional system.
One of these could be the Teacher Loan Forgiveness Program made for instructors serving low-income communities. The following loans qualify for this program
- Federal Direct Loans ( unsubsidized or subsidized)
- Federal Stafford Loans (subsidized or unsubsidized)
- Federal Direct Consolidation Loans