Student Loan Forgiveness For Professors: PSLF Is The Top Choice

• You qualify for Public Service Loan Forgiveness if you work full-time at a public or non-profit college or university and have federal Direct Loans.

• You can combine teaching hours from multiple eligible institutions to meet the 30-hour per week requirement for PSLF as an adjunct professor.

• You should reapply for PSLF even if previously denied, as recent program changes have expanded eligibility and simplified the application process.

Yes, you can get student loan forgiveness as a professor. In fact, most professors qualify for at least one of the many student loan forgiveness programs the Education Department offers. The Public Service Loan Forgiveness (PSLF) Program is the most powerful and popular option.

You qualify for PSLF if you work full-time for a city, state, or tribal college or teach at a non-profit school. This applies to all types of professors:

• Tenured professors at state universities

• Adjunct instructors at community colleges

• Any other teaching position at a qualifying institution

Even if your loan servicer told you that you don’t qualify because you have the wrong type of loans, or if your application was previously denied, you can still apply for forgiveness. Recent changes the Biden administration made to the PSLF program have expanded the eligibility requirements and simplified the process.

Related:

• Does Working For a University Qualify For PSLF?

• School Counselor Student Loan Forgiveness

• Biden Student Loan Forgiveness

• How to Apply For Student Loan Forgiveness

The PSLF Program forgives the remaining balance of your federal student loans after 10 years of full-time work with a qualifying employer. Here’s what you need to know as a professor:

1. Qualifying Employment: You must work full-time (at least 30 hours per week) at an eligible institution. This includes public colleges and universities, private, not-for-profit colleges and universities, and tribal colleges. Adjunct professors can qualify by combining hours from multiple eligible employers to reach 30 hours per week.

2. Eligible Loans: Only federal Direct Loans qualify. If you have FFEL Stafford or Federal Perkins loans, consolidate them into a Direct Consolidation Loan to make them eligible.

3. Repayment Plan: You must be on an income-driven repayment (IDR) plan. These plans can lower your monthly payments based on your income and family size.

4. 120 Qualifying Payments: Make 120 monthly payments while working for eligible employers. These don’t need to be consecutive, so sabbaticals or job changes won’t reset your progress.

5. Annual Certification: Submit the PSLF form yearly to certify your employment and track progress.

6. Forgiveness Application: After 120 qualifying payments, apply for forgiveness. If approved, your remaining balance is forgiven tax-free.

You can also get credit for past qualifying employment dating back to October 2007, when the PSLF program started. This means if you’ve been working as a professor at a qualifying institution since then, those years of service count towards your 10-year requirement, even if you weren’t aware of the program or didn’t certify your employment at the time.

Related: Are Stafford Loans Eligible for PSLF?

Adjunct professors can qualify for PSLF if they work at least 30 hours per week on average. As an adjunct, you can meet this requirement by working 30 hours at one institution or by combining hours from multiple eligible institutions. This means you can teach a few classes at one school, one at another, and even one at a third. As long as each school is a government organization like a state school or a nonprofit entity like a private liberal arts college, you can get PSLF credit.

The U.S. Department of Education has implemented new guidelines for calculating teaching hours for adjunct faculty. Under these guidelines, employers must credit adjunct faculty with at least 3.35 hours of work for every credit hour taught. This means:

• A 3-credit course would count as at least 10.05 hours per week

• Teaching 9 credits (typically 3 courses) would count as 30.15 hours, meeting the full-time requirement

Non-teaching duties such as course preparation, grading, office hours, and departmental meetings also count towards your total hours.

To certify your employment for PSLF, submit the PSLF form annually or whenever you change employers. If you teach at multiple institutions, you’ll need to submit separate forms for each eligible employer.

Related

• Nonprofit Employee Student Loan Forgiveness: PSLF & More

• Is PSLF Retroactive?

To be considered for PSLF, you only need to submit a PSLF Employment Certification form. The easiest way to do this is by using the PSLF Help Tool at studentaid.gov. Here’s how it works:

1. Use the PSLF Help Tool: This online tool allows you to check if your employer is already in the Department of Education’s database, request a review of your employer’s eligibility if it’s not in the database, prepare and sign your PSLF form electronically, request certification and signature from your employer electronically, and generate your PSLF form for manual signature if needed.

2. Check your loan type: Ensure you have Direct Loans. If not, consolidate your federal loans into a Direct Consolidation Loan at studentaid.gov.

3. Enroll in an income-driven repayment plan: Choose a plan like Income-Based Repayment (IBR), Pay As You Earn (PAYE), or the Saving on a Valuable Education (SAVE) Plan at studentaid.gov.

4. Submit the PSLF Form: Complete and submit this form annually or when you change employers.

5. Continue making payments: Keep making payments under your chosen IDR plan while working full-time for eligible employers.

Are there any student loan forgiveness programs specifically for college professors?

No, there are no student loan forgiveness programs exclusively for all college professors. But the Faculty Loan Repayment Program (FLRP) assists professors at health profession schools, offering up to $40,000 for two years of service. For most professors, the PSLF program remains the best option for loan forgiveness.

How do summers and sabbaticals affect my PSLF eligibility?

Your annual employment certification covers you for 12 months, including summers. Sabbaticals and research leaves typically don’t affect PSLF eligibility if your employer still considers you a full-time employee during that time. Paid sabbaticals usually count towards PSLF. For unpaid leaves, check with your institution about your employment status. Continue making your income-driven repayment plan payments to maintain eligibility.

Can I qualify for PSLF if I’m a part-time or adjunct professor?

Yes, if you teach part-time at multiple eligible institutions, you can combine your hours to meet the 30-hour per week requirement. Keep detailed records of your hours worked at each institution.

What if my college or university isn’t in the PSLF employer database?

You can request a review through the PSLF Help Tool. This doesn’t mean your employer doesn’t qualify; it may just need to be verified.

I was denied PSLF in the past. Should I reapply?

Yes, you may now be eligible under the expanded rules. Resubmit your PSLF form to have your application reconsidered.

What happens to my PSLF progress if I switch institutions?

You can change employers without losing PSLF progress. Just make sure to certify your employment each time you change jobs.

Will consolidating my loans affect my PSLF progress?

Typically, consolidation resets your payment count to zero. But under recent rule changes, you may receive credit for payments made before consolidation.

How often do I need to recertify my income for my IDR plan?

Recertify your income annually. Your payments may change based on your income, but they’ll still count towards PSLF.

Can making extra payments help me qualify for PSLF faster?

No, only one payment per month counts toward your 120 payments. Making extra payments will not speed up the process.

What should I do after I’ve made 120 qualifying payments?

Continue making payments after you’ve submitted your final PSLF application. Your loans will remain in repayment until forgiveness is granted.

While the PSLF Program is often the best option for professors, there are other forgiveness options to consider — especially if you’ve had student loan debt for a long time or don’t qualify for PSLF.

Income-Driven Repayment Forgiveness

IDR forgiveness can be an excellent option for borrowers who’ve been repaying their loans for two decades or more, including those who only recently started working as professors. Under IDR plans, your remaining loan balance is forgiven after 20 or 25 years of qualifying payments, depending on the specific plan.

Eligibility requirements for IDR forgiveness include:

• Having federal Direct Loans (you can consolidate other federal loans to make them eligible)

• Enrolling in an IDR plan such as IBR, ICR, PAYE, or SAVE.

• Making consistent payments based on your income and family size

The recent IDR waiver and payment count adjustment have made this option even more attractive. Under these changes, borrowers can receive retroactive credit towards forgiveness for:

• Any month in repayment status, regardless of the payment plan, timing, or whether the payment was partial or late

• Certain periods of deferment and forbearance

This means you might be closer to forgiveness than you think, even if you haven’t been on an IDR plan the entire time.

Teacher Loan Forgiveness Program

While the Teacher Loan Forgiveness (TLF) program sounds appealing, it’s often not the best fit for professors. This program is designed primarily for K-12 teachers in low-income public schools or educational service agencies. Here’s why it’s not ideal for professors:

• Eligibility requirements: You must teach full-time for five consecutive academic years in a qualifying low-income elementary school, secondary school, or educational service agency.

• Limited forgiveness amount: The program offers up to $17,500 in forgiveness for highly qualified math, science, or special education teachers and up to $5,000 for other eligible teachers.

• Exclusivity with PSLF: You can’t receive credit for PSLF and Teacher Loan Forgiveness for the same period of teaching service.

Given these limitations, most professors will find PSLF or IDR forgiveness more beneficial for managing their student loan debt and achieving loan cancellation.

PSLF is the primary loan forgiveness program for professors, erasing your remaining federal student debt tax-free after 10 years of qualifying employment. Recent expansions under the Biden administration have broadened eligibility and simplified the application process, benefiting more borrowers.

But navigating PSLF can be complex, especially when seeking credit for past employment. The process can be time-consuming, and you may face challenges getting recognition for your previous work.

To streamline your journey and maximize your forgiveness potential, speak with one of our student loan experts. We’ll provide personalized guidance, ensuring you’re on the optimal path to loan forgiveness and avoiding common pitfalls along the way.