Get Omb No 1845 0017 Form

You can't receive credit for time in repayment if you don't consolidate and submit your PSLF [employment certification] form by that date,” says the Education Department. Even Direct federal student loan borrowers could benefit from Direct loan consolidation under the Limited PSLF Waiver, at least in some cases.

What student loans are not eligible for forgiveness? Private student loans, by definition, are private and are not eligible to be forgiven. These are loans the borrower owes to student loan providers and not the federal government.

You should consolidate your federal loans if you want to make a single monthly payment or need to consolidate to qualify for programs like Public Service Loan Forgiveness. If you want to save money by lowering your interest rate, consider private loan consolidation — also known as refinancing.

If you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program.

After you make your 120th qualifying monthly payment for PSLF, you'll need to submit the PSLF form to receive loan forgiveness. You must be working for a qualifying employer at the time you submit the PSLF form and at the time the remaining balance on your loan is forgiven.

Do you have to consolidate loans for PSLF? You'll need to consolidate your loans to qualify for Public Service Loan Forgiveness if you have FFEL or Perkins Loans. Parent PLUS Loan borrowers may also need to consolidate so they can qualify for a PSLF eligible-repayment plan: income-contingent repayment.

You can lose credit for your payments toward income-driven repayment (IDR) forgiveness. You don't have to consolidate all your federal student loans.