SLFCP allows qualifying federal student loans to be forgiven after 120 qualifying payments (10 years), while working for a qualifying public service employer.
If you work or have worked in public service such as government (federal, U.S. Military, state, local, or tribal) or certain non-profit organizations, you might be eligible for the SLFCP Program.
Getting SLFCP will require careful attention to detail. Here are some tips to achieve forgiveness as painlessly as possible.
Use the SLFCP Help Tool to figure out your next steps. This tool is provided by the U.S. Department of Education (ED) and is free to use.
Only federal Direct Loans can be forgiven through SLFCP. FFEL or Perkins Loans may qualify by consolidating into a Direct Consolidation Loan.
Save your digital receipts or monthly statements for every payment. Documentation is crucial for verifying your qualifying payments.
The SLFCP Help Tool tracks your progress to 120 qualifying payments. Check it regularly to ensure it matches your records.
Some borrowers have reported that their servicers' payment tallies do not match their personal records. Contact the servicer to resolve this issue. Submit a complaint with the CFPB or Federal Student Aid (FSA) if you encounter this problem.
Recertify your income-driven repayment plan and employer each year. The SLFCP Help Tool will guide you to the necessary forms.
If federal loans go into default, you'll need to rehabilitate or consolidate them to get back on track for SLFCP.
Deferments prior to 2013 and extended forbearances are automatically counted. File with FSA Ombudsman for shorter forbearances.
ED offers an online form to request reconsideration. Gather payment dates, tax info, and proof of employment and payments.
Paused payments count toward SLFCP as long as you meet all other qualifications. You will get credit as though you made monthly payments.
Visit the Department of Education for more information on the payment pause and SLFCP.
Public service employees can use these guides to ensure they are on track for loan forgiveness:
Most federal student loans are eligible for at least one income-driven repayment plan.
ED announced changes that bring borrowers closer to forgiveness under IDR plans with automatic credit for eligible periods.
No student loan borrower will have to pay any fees to receive credit toward forgiveness. If someone asks you to pay them to get loan forgiveness, it's a scam.
Only federal student loans managed by Department of Education qualify for the one-time IDR adjustment:
Visit the Department of Education's website for the latest SLFCP guidance