+ LR-Icons
Popular Questions Topics

Student Loan Forgiveness

PSLF is a U.S. government program that allows qualifying borrowers employed at non-profits and government entities to have their Federal Direct Loans forgiven after ten years of repayment under the Income-Driven Repayment (IDR) plan (120 payments total). To be eligible for the program, you must:

  • Be employed by a non-profit (must be tax-exempt under Section 501(c)(3) of the Internal Revenue Code) OR a U.S. government organization at any level (federal, state, local, or tribal) – including U.S. military service
  • Work full-time for that agency or organization
  • Have Federal Direct Loans (or consolidate other federal student loans into a Direct Loan)
  • Be enrolled in an income-driven repayment (IDR) plan
  • Make 120 qualifying payments
For more information, go to the Federal Student Aid website at StudentAid.gov/publicservice.


No, there is no minimum deposit to open this account.


If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of federal income driven repayment programs or student loan forgiveness, including but not limited to: Income Based Repayment (IBR), Pay As You Earn (PAYE) or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit https://studentaid.gov/.