Public Service Loan Forgiveness (PSLF) and Temporary Expanded Public Service Loan Forgiveness (TEPSLF)
RISE AmeriCorps Members are eligible for forbearance of most federally-guaranteed student loans. In addition, interest payments that accrue during service may be eligible for repayment by AmeriCorps.
- The PSLF benefit is available only one time during all AmeriCorps service. However, you could choose to make qualifying PSLF payments under an income-driven repayment (IDR) plan during your service period.
- If you do not request a deferment or forbearance and instead make payments under an income-driven repayment (IDR) plan during your AmeriCorps service and that service lasts longer than 12 months, you could possibly receive credit for a larger number of qualifying PSLF payments than you would if you make a lump-sum payment.
- This is because you can receive credit for a maximum of only 12 qualifying payments if you make the lump-sum payment. But each payment you make under the IDR plan (including a scheduled payment amount of $0) while you are serving as a full-time AmeriCorps member counts as a qualifying PSLF payment if it meets all the requirements.
WHO IS ELIGIBLE: