Can I combine PSLF and Teacher Loan Forgiveness?

As we have covered previously in order to qualify for Teacher Loan Forgiveness you need to have 5 years of qualified service along with meeting the other requirements and to receive Public Service Loan Forgiveness you must have 10 years of qualifying payments along with the other criteria.

What you cannot do is combine the two.  What I mean by this is let us say you have $20k in loan debt.  You work as highly qualified 3rd grade teacher for 5 years thus qualifying for $5k in loan forgiveness.  If you teach an additional 5 years and make qualifying payments, you are unable to have the other $15k forgiven (plus whatever interest is left).

However you are able to do them independently.  So in our example above, if you received your 5 years worth of forgiveness from TLF then did 10 more years under PSLF (a total of 15 years) the remainder of your balance would be forgiven as regular PSLF rules would apply.

This is something to consider when looking at both options as if you wish to do both it would probably be more advantageous to do PSLF.  But as always if you have any questions about your particular situation your loan representative (or me if I am able) is willing to help.

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