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Posted on: July 24, 2019

Are Student Loans a Boat Anchor on Your Finances?

Student loan debt

Let the Public Service Loan Forgiveness Program relieve the drain on your bank account. First, you must find out if you qualify for student loan forgiveness under the Public Service Loan Forgiveness Program (PSLF). In addition, you must be working full-time for a qualifying employer at the time you submit the application for forgiveness – the City of Plano meets the requirements because we offer the following public services:

  • Emergency management
  • Public safety
  • Law enforcement
  • Public library services

This program is funded through and serviced by the U.S. Department of Education (DOE). PSLF is intended to help you get out from under the burden of hefty college student loans – both undergraduate and graduate. The Public Service Loan Forgiveness Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan.

You can apply now or in the future.

If you are eligible for the program, please email or deliver the Employment Certification form to Teresa Exley for employer signature. These forms must be forwarded to the DOE FedLoan Servicing office in Pennsylvania for consideration. All questions regarding the program should be directed to the U.S. Department of Education.

Quick Links:
Public Service Loan Forgiveness Q&A
Eligible Loans
How Do I Apply for PSLF
Application Process

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