Parent PLUS Loans are eligible for the main Public Service Loan Forgiveness (PSLF) Program, but the loans don’t qualify for one of the program’s newest relief opportunities: the limited PSLF Waiver.
Since the Public Service Loan Forgiveness Program was created in October 2007, lawmakers have made three main changes to allow more parents and other public servants to benefit.
The first fix to the PSLF Program was made in 2017 when Congress created the Temporary Expanded Public Service Loan Forgiveness Program. TEPSLF gave borrowers in the Graduated Repayment or Extended Repayment plans credit towards PSLF even though they made their monthly payments under the wrong plan.
The next change occurred last October when the Biden Administration introduced the PSLF Waiver. This temporary program allows borrowers with the wrong loans — Federal Family Education Loans and Perkins Loans — to get retroactive credit toward PSLF for any payments they made toward their loans, even if the payments were late or for less than the amount.
The limited waiver has been a huge success. Over 113 thousand public servants have received $6.8 billion in loan cancellation through PSLF. But the White House — without explanation — locked parent borrowers out of this opportunity.
The last tweak came this year as part of a one-time account adjustment toward income-driven repayment forgiveness. Under the IDR Waiver, the Education Department will credit all borrowers, including parents, for time spent in forbearances that lasted over 12 straight months or 36 or more months cumulatively.
Ahead, learn how to get your parent loans forgiven if you work in public service.
Parent PLUS Loan and public service program eligibility:
Public Service Loan Forgiveness: Parents qualify.
TEPSLF: Parents qualify.
PSLF Waiver: Parents qualified for their student loan debt but not the PLUS loans borrowed for their children.
IDR Waiver: Parents qualify.
Related: Parent PLUS Loan Forgiveness