How Many Borrowers Are In The Queue To Get Forgiveness?

There is a lot of confusion surrounding Public Service Loan Forgiveness’s criteria and how many people have actually received it. Here are some key points:

There are three main requirements to qualify for PSLF:

  • Direct student loans
  • Qualifying repayment plan
  • Certification of employment at an eligible/qualifying employer

When PSLF was established:

PSLF went into effect on October 1, 2007. So, if you started making qualified payments on day one, the earliest you could have seen your loans forgiven would have been October 2017.

How many borrowers are in the queue to receive forgiveness?

The numbers are from the most recent Federal Student Aid data.

Ryan Gutzeit is the founder and president of TSLHG He and his team have spent the last decade helping borrowers better understand their student loan repayment and federal forgiveness options. By educating borrowers, Ryan and the rest of the TSLHG team have saved thousands of borrowers from overpaying on their loans and helped them get debt-free faster.