Public Service Loan Forgiveness Program (PSLF)
The U.S. Department of Education is implementing a new income-driven repayment plan, the SAVE plan, that calculates payments based on income and family size—not loan balance—and forgives remaining balances after a certain number of years. Unlike PSLF, you do not have to be in public service to qualify. This fact sheet, like any other student loan resource shared by NASP, is not financial advice, and you should consult with your student loan servicer before making any changes to your existing repayment plan.
The Public Service Loan Forgiveness program (PSLF) is the preeminent federal loan forgiveness program available to school psychologists who meet various qualifiers and requirements, including working for 10 consecutive years in a public service role and making all payments over the 10-year period on time. Only certain federal loans are eligible for forgiveness. The resources below can give you a general overview of the program, if and how you might qualify, how to apply for forgiveness, and more.
PSLF FAQs (June 2023)
The Department of Education's new PSLF regulations go into effect on July 1, 2023. Learn about how your application will be impacted and find answers to frequently asked questions on the PSLF Coalition website.
Get Ready: Student Loan Payments Will Resume at the End of Summer Policy Matters Blog (June 2023)
Federal student loan payments will resume after more than 3 years of being paused. Student loan interest will resume starting on September 1, 2023, and payments will be due starting in October 2023. If you have federal student loans, it is important that you are prepared to resume making payments so that you are not held liable for late payments or lack of payment.
Press Release: Department of Education Announces Actions to Fix Longstanding Failures in the Student Loan Programs (April 2022)
This release from the Department of Education covers planned corrective actions that will address forbearance steering, income driven repayment plans, and public service loan forgiveness.
Public Service Loan Forgiveness (PSLF) Overhaul Policy Matters Blog (October 2021)
In this Policy Matters Blog post, Kelly Vaillancourt Strobach, describes announced changes to the PSLF program and answers some commonly asked questions.
Lunch and Learn: Public Service Loan Forgivenss (October 2021)
This recording from an Instagram live session facilitated by Kelly Vaillancourt Strobach answers questions about the upcoming PSLF changes from school psychologists.
Fact Sheet: Public Service Loan Forgiveness Overhaul (October 2021)
This fact sheet from the Department of Education outlines upcoming changes to the PSLF program that would increase the number of borrowers eligible for forgiveness, streamline the forgiveness process, and improve outreach and communication with eligible borrowers among other changes.
Public Service Loan Forgiveness Program CQ Article (May 2020)
In this CQ Article, Caden Fabbi, NASP Manager of Policy and Advocacy, details the Public Service Loan Forgiveness Program's requirements and outlines a checklist and other resources for potential participants.
Public Service Loan Forgiveness Q+A (June 2020)
In this Policy Matters Blog post, Karah Chapman, school psychologist and NASP Board Member, answers a Q+A regarding her successful experience with the Public Service Loan Forgiveness Program.
Public Service Loan Forgiveness Program (PSLF) Policy Matters Blog (April 2017)
In this FAQ, Kelly Vailancourt Strobach, NASP Director of Policy and Advocacy explains in detail how the PSLFP applies to school psychologists.
Public Service Loan Forgiveness Program Webinar (May 2019)
The Department of Education held a "Understanding the Basics of the Public Service Loan Forgiveness Program" webinar in May 2019. Check out the video of the webinar below.