Which student loan borrowers qualify for public service loan forgiveness in 2026?
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TL;DR
- To qualify for PSLF in 2026, borrowers must work full-time for a qualifying employer, such as government agencies, public schools, or eligible 501(c)(3) nonprofits.
- Only federal Direct Loans are eligible for PSLF; older loan types like FFEL or Perkins Loans must be consolidated into a Direct Consolidation Loan.
- Borrowers need to make 120 qualifying monthly payments under an eligible repayment plan, historically income-driven plans, while employed by a qualifying employer.
- Borrowers with loans disbursed on or after July 1, 2026, will generally need to use the new Repayment Assistance Plan (RAP) for payments to count towards PSLF.
- Regularly certifying employment with the Department of Education is crucial to track progress and avoid potential issues.
- Changes in regulations regarding qualifying employers are facing legal challenges, and borrowers should monitor guidance if their employer might be affected.
- Alternative options for managing student debt include income-driven repayment plans, loan consolidation, deferment, forbearance, and private refinancing.