Are you eligible for student loan forgiveness?

The University of Iowa is a public service employer which means as an employee, you may be eligible for Public Service Loan Forgiveness (PSLF). PSLF is a federal program that can provide financial relief to eligible borrowers by forgiving the balance of your loan tax-free after 120 qualifying payments.

Eligibility Reqirements

The PSLF program eligibility requirements are based on the bulleted points below and several other factors, including income, the debt amount, number of dependents, and other personal information. Even if your income is high, you may still be eligible. Savi can help determine your eligibility in less than 20 minutes of your time. 

• Employment in Public Service - you must work full time (30 or more hours) for each month you hope to count towards your 120 qualifying payments.
• Loans through the Federal Direct Loan Program - you must have a federal student loan issued through the Direct Loan Program of the U.S. Department of Education.
  • You may also qualify if you consolidate your federal student loans to a Direct Loan.
• Enrollment in income-driven repayment (IDR) plan - you must enroll in an IDR, which bases your payment on your income, debt amount, dependents, and other criteria.
• Ten years of monthly payments - you have to make 120 on-time monthly payments in the IDR, though not necessarily consecutive or with the same employer. Payments made before you switched to an IDR may also count toward forgiveness.