Direct Loan borrowers working in specified public service occupations may quality for forgiveness of outstanding loan balances after making 120 monthly loan payments. To qualify, payments must have been made after Oct. 1, 2007, which means actual loan forgiveness under this program won’t begin until October 2017. Moreover, most federal student loans are fully repaid within 120 monthly payments. As a result, only borrowers who repay under certain flexible repayment options likely will qualify for public service loan forgiveness.

View details of this loan forgiveness option.