Military service members who served on active duty any time after Oct. 1, 2007, can get credit towards the Public Service Loan Forgiveness, but they’ll need 120 qualifying payments and Direct Loans before their debt is forgiven.
The Public Service Loan Forgiveness Program was created to encourage students to forego more lucrative careers in favor of potentially low-paying careers such as teaching, firefighting, or military service that benefit our society. It wipes out the remaining balance owed on your federal Direct Loans after you’ve worked full-time for the government or nonprofit organization and made 10 years’ worth of payments, for 120 qualifying payments, under an income-driven repayment plan.
The PSLF Program is open to all military service members and veterans who served on active duty anytime after Oct. 1, 2007 — in some cases, even if they never applied for relief. Members of the Reserves and National Guard may also be eligible for periods of full-time service. More on that is below.
You can use the PSLF Help Tool on the Federal Student Aid website, StudentAid.gov, to check your eligibility based on the types of loans you have and your employer.
Keep reading to learn more about PSLF for military service.
Related: Military Student Loan Forgiveness