The path toward Public Service Loan Forgiveness (PSLF) presents some risks for borrowers. Because this program is an “all-or-nothing” benefit, it is important for you to understand that you must make 120 on-time, qualifying monthly payments in order to obtain loan forgiveness.
It is also important to know that these payments do not have to be consecutive. If you make a late payment or leave public service for a brief period, you will still be able to pick up where you left off and continue down the path to loan forgiveness. However, to obtain the biggest benefit under PSLF, you should strive to make your 120 on-time, monthly payments in 120 months.
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