Public Service Loan Forgiveness
If you happen to be employed in certain public service jobs and in addition you have made at least one hundred twenty 120 payments on your Direct Loans (after Oct. 1, 2007), you may be pleased to learn that the remaining debt balance that you owe may be forgiven. However it should be of interest that only payments made under particular repayment plans may be counted towards the required one hundred twenty 120 payments. In addition you may not be in a default status on the loans that are forgiven. To obtain additional information on the public loan forgiveness program call (800) CUT BILLS or (800)288-2455.