Public Service Loan Forgiveness
In 2012, a new student loan repayment plan, Pay As You Earn (PAYE) was passed into law. PAYE offers law graduates: 1) repayment through affordable monthly income-based payments and 2) loan forgiveness provisions. If a borrower elects PAYE and makes ten years of payments while engaged in full-time public service, the unpaid balance is forgiven by the federal government.
The following websites provide detailed information about the Federal Public Service Loan Forgiveness Program:
- U.S. Department of Education: Public Service Loan Forgiveness (PSLF) Website
- U.S. Department of Education: PSLF Fact Sheet
- U.S. Department of Education: PSLF Questions & Answers
- U.S. Department of Education: Income Based Repayment Plan
- National Student Loan Data System (NSLDS): The U.S. Department of Education's Database for Federal Loans
- FinAid.org
- Equal Justice Works
- Ask Heather Jarvis