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Public Service Loan Forgiveness: Income-Driven Repayment Account Adjustment

Public Service Loan Forgiveness: Income-Driven Repayment Account Adjustment

There's still time to take advantage of new flexibilities related to Public Service Loan Forgiveness (PSLF), but don't delay. The Department of Education is conducting one-time account adjustments that give credit for all past federal student loan payments during periods where you worked in qualifying employment. Even payments on the wrong type of federal student loan, wrong repayment plan, and partial or late payments can be counted.

Here’s what you need to do to take advantage of the one-time account updates:

  • Apply for a Direct Consolidation Loan for any FFEL, Perkins, and other non-direct federal loans before 12/31/2023 to have past payments counted toward PSLF.
  • If you have Parent PLUS loans, new rules will count past payments on those loans as qualifying for the purposes of PSLF if you have certified employment periods.
  • You will need to apply for a Direct Consolidation Loan to make future qualifying payments for PSLF if you haven’t already made 10 years of payments.
  • Make sure you submit a PSLF form for all qualifying full-time employment since 10/01/2007 so that when one-time account adjustments are made you have your qualifying employment certified.
    1. Remember you will need to submit unique PSLF forms for each unique employer.

Need Support?

Contact a student loan coach by phone: (855) 353-9395 from 5am-5pm PST or email: