Plan Now for Future Financial Rewards. Paying off student loans can add financial stress to your life, that's why Congress passed the College Cost Reduction and Access Act in 2007, which includes the Public Service Loan Forgiveness (PSLF) program rewarding those who qualify and go into public service fields such as the ones that SHU's online programs provide training for: nursing, case management, and community outreach.
Students must maintain federally-insured student loans, make 120 payments, and work full-time in an eligible public service job for at least 10 years.
During the 10 years you make payments, sliding scale programs are available which determine fair and reasonable repayment amounts based on your financial situation and family size.
Only Direct Loans are applicable. PSLF covers federal Stafford, Grad PLUS, or consolidation loans as long as they are in the Direct Loan program. Borrowers with loans in the FFEL loan program must switch to the Direct Loan program to get this benefit. Direct Loans include:
If you don't meet these criteria, the Department of Education's regulations create a two-part test of other circumstances under which you may still be eligible if:
The staff at Sacred Heart University is available to help you discuss your financial aid options: just call us at 877-791-7181.
*Disclaimer: See http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp for complete program information. Sacred Heart University and its partners provide this general information as a service to you but cannot guarantee your acceptance to the program and make no guarantee regarding program details, continuity, and/or eligibility of applicants.